Bl***y Banks Again

We are no longer being 'Held to ransom' by British workers and their Trade Unions for a living wage. Instead today's challenge to our nation's stability and survival is the influx of Foreign investors and British shareholders, (among whom are doubtlessly many 'Honourable Members') and their insatiable greed for profit.

jp morgan has been fined
it seem everyday a bank is being fined etc etc

Remember that old saying "safe as the Bank of England"... has a hollow ring to it now!!!

Things were never as bad before deregulation...What is the problem with bringing the banks back under direct control of the government?
Without a manufacturing basis, we in the UK are forced to rely on honest actions and transactions between private enterprise corporations and banks spread across the world and the system is plainly seen to be failing.

If a thing is broken... Mend it.

Nobody seems to be mending anything. They seem to just patch up a bad system and throw good money after bad

So true fuzeta, our monetary system needs to be put back under Treasury control including hire purchase, mortgage rates, the shark-like payday loans should be declared illegal and the travesty of PPI needs paying back to individuals without the lengthy drawn out system of claiming what was fraudulently taken by corrupt bankers..

The lie of, 'internal market forces' has been seen to be no more than a corrupt cartel.

RBS IS BEING SUED BY SHAREHOLDERS OR SHOULD THAT BE EX-SHAREHOLDERS,INSTUITIONS AND PRIVATE INDIVIDUALS.

SINCE SEPTEMBER BANK SWITCHING SERVICE HAS BEEN INTRODUCED,MORE HAVE SWITCHED TO HALIFAX THAN LEFT.
MAIN REASON FOR SWITCHED,ERRERS AND BAD SERVICE.

Co-op Bank execs face BoE investigation

The Bank of England and the Financial Conduct Authority have confirmed they will launch investigations into the near collapse of the Co-op Bank







The PRA and the FCA have begun formal investigations into the near failure of the Co-op Bank









By Harry Wilson, Banking Editor

4:24PM GMT 06 Jan 2014



42 Comments





Former senior managers of the Co-op Bank are to be investigated by Britain’s two financial regulators over their role in the near failure of the troubled lender that last year discovered a £1.5bn capital shortfall.


The Prudential Regulation Authority (PRA), the Bank of England-run bank supervisor, and the Financial Conduct Authority (FCA) have confirmed they have begun an “enforcement investigation” into the Co-op Bank that will look at the actions of the lender’s “former senior managers”.


The launch of the investigation follows a two-month-long joint inquiry by the PRA and the FCA into the circumstances that led to the Co-op Bank’s troubles that will see the lender’s parent, the Co-op Group, give up control of the business to its bondholders.


The investigation could lead to former manager being fined, suspended and possibly banned from working in the financial services industry. The investigation could also lead to criminal action should the officials find any evidence of wrongdoing by individuals, though this would require a separate police investigation.


The Reverend Paul Flowers, the former chairman of the Co-op Bank, is already the subject of a police investigation into his alleged drug-taking, but will now face a probe into his professional conduct while at the bank, along with other former directors and executives.



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No timetable has been set for the work, but one source with knowledge of the process said it would likely take “several months”.

Similar investigations into the failures of HBOS and Royal Bank of Scotland took several years.

Cook' Signals Huge RBS Cost Cuts

The new boss of RBS is drawing up plans to shrink costs that will result in further job cuts, Sky News understands.

10:34pm UK, Wednesday 08 January 2014

BRITAIN-BANKING-STOCKS-BUSINESS-DIRECTORS-RBS
The head of RBS is preparing to take another axe to the lender's cost-base












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By Mark Kleinman, City Editor

The new head of Royal Bank of Scotland (RBS) is preparing to take another axe to the lender's cost-base in a move which could herald thousands more job cuts.

Sky News has learnt that Ross McEwan is working on the plans, to be announced alongside the taxpayer-backed bank's annual results in six weeks' time, under the codename Project Cook.

The name is understood to be a reference to Captain James Cook, the English explorer who sailed along the coast of Australia in 1770, and is a nod to the RBS chief executive's success in cutting costs at Commonwealth Bank of Australia, where he ran its retail operations for five years.

Mr McEwan's plans for RBS will not be finalised until next month, when he will announce the details to the City, but he has told colleagues that he expects "very substantial" cost cuts to be identified as part of his review.

The bank's workforce is already one-quarter smaller than the 161,000 people who were employed by it when taxpayers injected £45.5bn to rescue it in 2008.

More than 40,000 people have left RBS since then, many through redundancy, with others leaving as part of the sale of dozens of businesses by Stephen Hester, Mr McEwan's predecessor.

People close to Project Cook said that Mr McEwan would further shrink RBS's markets and international banking operations, as well as setting out plans for greater automation of high street banking services.

Over time, this would result in far more cost-effective operations that would require a smaller headcount, they said.

About 120,000 people now work for the Edinburgh-based bank.

In RBS's third-quarter results statement in November, the bank said that Mr McEwan was launching a review of its operations in an effort "to capture the full potential of its customer businesses".

"The review will aim to improve the bank’s performance and effectiveness in serving its customers, shareholders and wider stakeholders.

"This will include detailed plans to realign the Group’s cost base, with a cost:income percentage target in the mid 50s, down from 65% currently."

Even if RBS's income remained constant, that shift would entail slicing hundreds of millions of pounds from RBS's cost-base, but the sale of Citizens in the US and other business units will reduce the bank's profitability in the short term.

"The aim is to put more capital and resource into areas where they generate income, and that will be one focus of the review next month," said one source.

Since the November announcement, RBS has been hit by a series of further IT systems breakdowns which have inconvenienced millions of NatWest, RBS and Ulster Bank customers.

George Osborne, the Chancellor, is being kept informed about the progress of Project Cook, as is UK Financial Investments, the agency which manages taxpayers' 81% stake in RBS.

RBS, which declined to comment on Wednesday, is not alone among UK banks seeking to reduce its workforce.

Barclays, HSBC and Lloyds Banking Group have each either carried out or signalled plans to cut tens of thousands of roles as retail banking customers increasingly frequent use online and mobile-based services

JP MORGAN FINED AGAIN

LLOYDS AND TSB ARE HAVING PROBLEMS WITH THEIR SYSTEMS
IDEAL,MAYBE ALL RETAILERS SHOULD DO THEIR TRANACTIONS VIA PAYPAL.

RBS ARE FOUNDING MORE BAD ITEMS ON THEIR BOOK

http://www.bbc.co.uk/news/business-25918998

Yet still, no banker has been charged for dereliction of duty.!!!!

ulster bank to close ban branches

LLOYDS BANK TO SPEND ANOTHER 2BILLION ON PPI MISSELLING,MAKING A TOTAL OF22 BILLION SPEND BY BANKS ON PPI MISSELLING.

RBS AND NATWEST ISA CUSTOMERS HAVE HAD THEIR INTEREST UNDERPAID SO WILL BE REIMBURSED.

DETAILS OF 2000 BARCLAYS CUSTOMERS BANK DETALS WERE PASSED TO UNSCUPLIOS(SP?) WHO IN SOME CASES PERSUADE D CUSTOMERS TO INVEST IN RARE EARTH ELEMENTS THAT DIDN'T EXIST.
HAVE I HEARD IT ALL NOW?

other banks WERE ALSO INVOLVED,GREED SEEMED TO BE IN ALL TRADERS MIND.

BANKERS BONUSES ARE BACK ON THE AGENDA WITH BARCLLAYS AND RBS,METTHINKS.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10654373/Ross-McEwan-attempts-to-reassure-RBS-staff-amid-job-losses.html

Note.......RBS still managed to pay Bonuses.