After the failure of Silicon Valley Bank UK’s UK branch in March, British banks were spared the cost of prefunding an insurance scheme for multi-billion pound deposits. In a Consultation
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Citigroup will launch an investment banking division in China to further its involvement in China’s financial markets, even though rivals are becoming more cautious in the country. A person familiar
HSBC will launch a payment app in the UK, which will offer foreign exchange at a low price to consumers. The global lender is looking to compete against digital rivals
The Treasury has refused to extend the supervision arrangements beyond this year. Under the so-called State Aid rules, which were in place when the UK was a member state of
In 2023, global banks will have eliminated over 60,000 jobs. This is one of the most significant years of cuts since the financial crises. They also reversed a large portion
Barclays reached an agreement to remain in its Canary Wharf HQ until at least 2039. This is a major boost for London’s Docklands Financial Centre after other high profile tenants
The bond markets are getting ahead of themselves by anticipating a sharp fall in the Bank Rate for next year. CPI inflation is down from double-digit levels last year. At
Investors have warned that the Bank of England is facing a stubborn inflation problem which may prevent it from reducing interest rates as dramatically as its peers next year. The
Western world’s biggest central banks will likely keep interest rates at the same level this week, amid concerns about stubbornly high inflation. This is despite expectations of sharp reductions in
The Bank of England has warned that private credit and leveraged loan markets are vulnerable to “sharp” revaluations. This is its latest warning about the risks in non-bank financing. The
Qatar’s sovereign fund has reduced its stake in Barclays. The UK bank is under pressure to revamp its strategy and improve performance by investors. Qatar Holding, a subsidiary of Qatar
Lloyds Bank’s chief executive has asked Labour and the Government not to impose a windfall tax in his industry, citing “nervousness”. Charlie Nunn is the chief executive officer of Britain’s
Barclays is considering dropping many investment bank clients to increase profits and reduce costs by £1bn. Barclays’ executives met more than once this year to discuss the restructuring. The codename
Andrew Bailey said that the economic outlook is the worst of all times, and Britain is struggling to increase low levels in growth. The Bank of England Governor expressed concern
Metro Bank will soon sell a significant portion of its mortgage portfolio to Barclays, after shareholders approved a £925m bailout deal. The troubled lender has been in discussions with potential
Lloyds Banking Group is preparing to restructure their business in order to focus more on digital services. A person with knowledge of the situation says that the bank will be
