Three bankers who brought down HBOS

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Three bankers who brought down HBOS

Three bankers who brought down HBOS
A report by the parliamentary commission on banking standards has accused three former senior HBOS executives of a “colossal failure” and called for them to be held to account by the City regulator.
The Guardian, p. 1-2
Also appeared in : The Sun, p.6, Financial Times, p.1, The Guardian, p.30, The Daily Telegraph Business, p.1, City AM London, p.1, The Daily Telegraph Business, p.4, The Guardian, p.31, The Independent, p.4, The Daily Telegraph, p.20, Independent i, p.7, The Independent, p.4-5, International Herald Tribune, p.1, Independent i, p.7, Independent i, p.2, Financial Times Companies and Markets, p.16, Financial Times Companies and Markets, p.17, Financial Times Companies and Markets, p.17, Daily Mirror, p.12-13, Daily Mirror, p.12-13, Daily Express, p.19, Daily Mail, p.6, Daily Mail, p.66, Daily Mail, p.65, Daily Mirror, p.8

Bank of Japan gets radical as ECB considers rate cut
The Bank of Japan announced a radical stimulus package and the European Central Bank primed the markets for a possible cut in interest rates to 0.5 per cent as soon as next month.
The Times, p. 41
Also appeared in : City AM London, p.16, The Daily Telegraph Business, p.5, The Daily Telegraph Business, p.1, International Herald Tribune, p.14, Financial Times Companies and Markets, p.32, Financial Times, p.11, City AM London, p.15, Daily Mail, p.65, Financial Times, p.6, Financial Times, p.10

Services data suggests triple-dip recession averted
The Bank of England’s Monetary Policy Committee yesterday voted against an expansion of QE, following news that the Purchasing Managers’ Index rose to 52.4, from 51.8 in February.
The Guardian, p. 28
Also appeared in : The Sun, p.42, City AM London, p.4, Metro London, p.47

Deutsche Bank investigated
The German central bank plans to send a team to New York next week to look into allegations that Deutsche Bank undervalued derivative positions worth billions of dollars to avoid a bailout during the financial crisis, people with knowledge of the inquiry said.
International Herald Tribune, p. 1
Also appeared in : Evening Standard London, p.48, International Herald Tribune, p.14

ECB poised for rate cut to ease euro pain
Mario Draghi said that the European Central Bank stands “ready to act” on interest rates if the eurozone economy weakens further.
The Daily Telegraph Business, p. 5
Also appeared in : International Herald Tribune, p.1, Daily Mail, p.65

Top Cypriot bankers tarnished by report
Two of the most senior executives at Bank of Cyprus may have deleted crucial e-mail documents last year relating to what proved to be a disastrous decision to invest heavily in Greek government bonds just before Greece’s international bailout in 2010, according to an investigative report commissioned by the central bank of Cyprus.
International Herald Tribune, p. 16
Also appeared in : International Herald Tribune, p.1

Monte dei Paschi chiefs face sanctions
The Bank of Italy has launched sanctions procedures against former directors of Monte dei Paschi di Siena.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18
Also appeared in : Financial Times Companies and Markets, p.32

Cypriot government warns of slump after bailout
Cyprus’s crisis-hit economy could shrink by 13% in 2013, according to Christos Stylianides, a government spokesman. He also told state television that the administration was determined to stay in the euro, comparing a departure to “jumping into the abyss”.
The Guardian, p. 29

Tepid response from investors to Barclays writedown bond
Barclays has issued its second total writedown bond in six months, receiving a lukewarm response from international investors amid criticism over the terms and handling of the deal.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 30

Slow progress on Basel III as nations delay
New regulations on capital requirements for banks – known as Basel III – were supposed to be phased-in at the turn of the year, after 27 leading central banks around the world agreed to adopt them.
City AM London, p. 6

U.S. judge dismisses Dexia claims
A US judge has dealt a devastating blow to a lawsuit filed against JPMorgan Chase that accused the country’s largest bank and its affiliates of duping investors into buying troubled mortgage-backed securities.
International Herald Tribune, p. 16

How George Osborne threw our guardian angel overboard
Ben Chu writes about Robert Jenkins who was an external mem¬ber of the Bank of England’s banking watchdog, the Financial Policy Committee (FPC), a person Chu refers to as our ‘guardian angel.’
The Independent, p. 53

Barclays in bid to boost its safety net
Barclays is issuing £660m of an unusual form of debt that will see it pay four times the interest rate on standard bonds.
Daily Mail, p. 67

The above articles appeared on 05/04/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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