There are reports that Barclays, Citigroup and Royal Bank of Scotland have frozen bonus payments right across the board for forex traders as fix-rigging investigations continue, according to the FT. So they’re going to withhold sharing the profits of the … Continue reading
The US Federal Deposit Insurance Corporation sued 16 of the world’s largest banks for colluding to suppress LIBOR and causing substantial losses to the 38 banks it held in receivership. Reuters has the story.
If European banks don’t get the SRM there could be big trouble but he is sure that they will come to an agreement on the SRM. EU politicians are aware of their responsibilities he adds. Righto. Being aware and acting … Continue reading
Germany’s BDB criticises the methodology behind the asset quality review and I’m surprised it’s taken this long for someone to come out and have a moan up. My money would have been on the Germans too This morning the ECB … Continue reading
So what did we learn from the BOE about the fx manipulations? Sweet FA in the main but. The committee pushed and pushed Carney and Fisher over what the BOE did or didn’t know about any manipulation before they opened … Continue reading
Allegations are as, if not, more serious than Libor scandal BOE has spared no expense on investigation and it has to be conducted fairly Will take necessary steps as warranted by probe We need to realise that this hearing is … Continue reading
On Oct 16th 2013. Investigation was opened immediately Individual was suspended for investigation into record management and keeping BOE’s rigorous internal controls Investigation will look at all relevant employees in the individuals working line Allegations came to BOE exec from … Continue reading
BOE heard no specific allegations until details started coming out last year Has I seen any evidence of rigging before last year would have reported it Carney FCA can investigate BOE staff Not in possession of any information that suggests … Continue reading
They’ve just taken a break after discussing all things Scotland and we’ll now be going into the FX stuff. Once again can be viewed live here.
Agrees that decision on back stop can wait for now. The fin mins are having their second day of meetings and passing comment at every opportunity. UK’s Osborne says he has a huge interest in a successful banking union. With … Continue reading