RBS withdraws credit

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RBS withdraws credit

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RBS withdraws credit
Royal Bank of Scotland has been accused of failing to support the recovery after official figures revealed that the taxpayer-backed lender withdrew £2.2 billion of credit from small businesses in the final nine months of last year, figures from the Bank of England’s Funding for Lending Scheme showed.
The Times, p. 35
Also appeared in : The Times, p.39

Bank use of Funding for Lending surges but business loans drop
Use of the Funding for Lending Scheme by banks surged in the last part of 2013, with nearly half of the borrowings made so far coming in the year’s final quarter. Banks drew down £18.79bn in the final three months of the year, out of £41.92bn in the six quarters the scheme has been active. Unlike previous quarters, the majority of banks eligible to do so made use of the scheme. Nationwide and Barclays made the largest drawings, hitting £6bn each, while RBS made a net repayment of £750m.
City AM London, p. 6

Bank of Ireland stocks plunge on poor lending
Investors fled the Bank of Ireland yesterday as it reported an unexpectedly large fall in lending volumes over the course of 2013.
City AM London, p. 10

Bank of Ireland chief upbeat on mortgage market recovery
Bank of Ireland CEO Richie Boucher says the Irish mortgage market is not as fragile as feared.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 21

Citi admits to inquiry
Citigroup has confirmed that a federal grand jury is investigating the bank, and its Banamex USA subsidiary, over compliance with the US Bank Secrecy Act and anti-money laundering requirments.
The Times, p. 35

Citi investors warned about revenue declines
Citigroup has warned that its consumer banking, trading and investment banking businesses could see its revenues decline.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 19

Nationwide poised to issue £750m coco
Nationwide is seeking to raise about £750m via an additional tier-one contingent convertible bond.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 30

E.C.B. chief sees risks in ‘anchored’ low inflation
Inflation in the euro zone is ”way below” the European Central Bank’s goal and the longer it stays at such low levels the harder it will be to get it back up to the target, the bank’s president, Mario Draghi, said on Monday.
International New York Times, p. 19

The above articles appeared on 04.03.2014. Reproduced with the kind permission of Kantar Media UK. All rights reserved.

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