Home buyers are risking too much debt, says lender

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Home buyers are risking too much debt, says lender

Home buyers are risking too much debt, says lender
Nationwide has warned that home buyers could find themselves overloaded with debt as they gorge on cheap mortgages to keep up with soaring property prices.
The Times, p. 17
Also appeared in : Financial Times, p.4, Independent i, p.49, The Times, p.56, The Independent, p.63

North’s financial frailty shows in mortgage defaults
According to analysis published today, more of Northern England’s existing homeowners are having properties seized because they have defaulted on their mortgage repayments than their counterparts in the South.
The Times, p. 58

Lloyds offers ‘cashback’ accounts and refunds
Lloyds Bank has introduced “cashback” for current account holders in the hope of attracting new business.
The Guardian, p. 44

ECB faces pressure to cut rates amid US Treasury jibe at Berlin
The eurozone’s annual inflation rate unexpectedly slowed to 0.7 per cent in October, well below the ECB’s target.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : The Guardian, p.45, The Times, p.56, The Daily Telegraph Business, p.1-4, Financial Times Companies and Markets, p.34, Financial Times, p.12, Independent i, p.48

RBS suspends traders during foreign exchange investigation
RBS has suspended two traders in conjunction with an investigation into the potential manipulation of foreign exchange rates. A global probe by US, UK, and Swiss regulators is looking into whether banks colluded to set rates. London based executives at three other major banks have been put on leave, according to reports.
City AM London, p. 3
Also appeared in : The Times, p.55, Financial Times, p.1

RBS carves out £35bn toxic assets ‘bad bank’
RBS is to con-firm today that it will create a “bad bank” with £35bn of toxic assets following a review of its operations ordered by the Treasury.
The Daily Telegraph Business, p. 1
Also appeared in : Financial Times, p.1

Barclays and RBS sued by Fannie Mae over Libor scandal
Barclays and RBS are among 9 banks being sued by Fannie Mae over the alleged manipulation of the benchmark Libor interest rate, it has emerged.
The Independent, p. 59
Also appeared in : The Times, p.55

Bank of England backs better liquidity support
Commercial banks will have full-time access to liquidity support in five different foreign currencies, the Bank of England announced Thursday.
The Independent, p. 63
Also appeared in : Independent i, p.46

Consumer borrowing grows at fastest rate since before crisis
The Bank of England yesterday admitted to an error in its data and said consumer borrowing has been growing at its fastest rate since before the financial crisis five years ago.
The Guardian, p. 43
Also appeared in : The Guardian, p.44

Banks set for stricter rules on trading
Global regulators are cracking down on banks that try to game capital rules for their trading businesses by proposing new standards for the way lenders assess risk.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : Financial Times, p.1

JP Morgan and Citigroup put dealers on leave
JP Morgan’s top London-based currency dealer has been put on leave against a backdrop of regulatory inquiries involving a number of banks over allegations of possible manipulation of the foreign exchange market.
Independent i, p. 47

BNP Paribas eyes options amid higher capital levels
BNP Paribas has announced a better than expected rise in net earnings in the third quarter.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18

Irish banking hit by Danske withdrawal
Danske Bank has announced that it is closing all Irish business and personal banking operations.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 7

Danske Bank chief revises profit targets downwards
Danske Bank’s new chief executive has started his reign at Denmark’s biggest lender by abandoning its profit targets for the next two years.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18

Otkritie is now Russia’s largest private bank
Otkfitie Capital yesterday began its purchase of Petrocommerce Bank, an acquisition that will make it Russia’s largest private bank.
City AM London, p. 13

Is the glass ceiling cracking in finance?
Ben Chu reports that women seem to be breaking into the long male-dominated areas of economic policy making and financial regulation and questions how real the apparent shift is.
The Independent, p. 60

The madness of the $13bn JPMorgan settlement
Jacob Frenkel looks at JPMorgan Chase agreeing to pay $13bn to end US government investigations into mortgage bond sales.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 13

Bank of Japan tensions break out again over forecasts linked to easing
Tensions over the Bank of Japan’s stimulus programme erupted again yesterday, as three board members reiterated objections to the bank’s forecasts.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 8

Cash for access
Editorial accusing the Financial Conduct Authority of ducking the issue of fund managers’ willingness to pay fees to lobby corporate chiefs.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 12

The above articles appeared on 01/11/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.