“Regulators should not give in to special pleading from banks in implementing the reforms introduced as a result of the financial crisis.”
Plans are to be drawn up to give more confidence about the way banks measure their financial strength in the wake of the 2008 crisis.
‘Excessive, inflammatory and a red rag to the enemies of the free market.” The rocket fired at BG Group by Simon Walker, director general of the Institute of Directors, hits its mark. A pay package of up to £25m for incoming chief executive Helge Lund is absurd, even by modern boardroom standards, and should be rejected by BG’s shareholders.
House prices have fallen for the first time in 17 months, dropping by 0.2% in September and providing new evidence that the property market is cooling, according to the latest update from the UK’s biggest building society.
George Osborne has conceded that a housing bubble remains a threat to the recovery following comments by the International Monetary Fund (IMF) in its annual appraisal of the UK economy.
Royal Bank of Scotland has become the second major lender to clamp down on large mortgages, announcing it will restrict lending on loans above £500,000 as fears grow that the London property market is entering bubble territory.
The London property market is heading for a "natural correction" with the "frenetic" pace of buying beginning to fade, according to the head of Britain's biggest building society.
City regulators have brushed aside complaints by Barclays and Nationwide over tough new liquidity rules, saying UK banks would need to put them into effect as soon as possible, years ahead of an international deadline of 2018.