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06/03/2013
Bank Governor Demands RBS Split
Bank of England governor Sir Mervyn King has called for the Royal Bank of Scotland to be split up.
speaking to the Banking Standards Commission he said: "The whole idea of a bank being 82%-owned by the taxpayer, run at arms' length from the government, is a nonsense. It cannot make any sense.
"I think it would be much better to accept that it should have been a temporary period of ownership only, to restructure the bank and put it back. The longer this has gone on the more difficult that's become.
"This has dragged on unnecessarily long. I don't want to blame anyone for this but I think the lesson of history is we should face up to it.
"RBS is worth less than we thought and we should accept that and get back to finding a way to create a new RBS that could be a major lender to the UK economy.
"It's four-and-a-half years on (since RBS's rescue) and there is no immediate sign of it going back to the private sector. So I think that means that we have not been sufficiently decisive in either recapitalising the banks or restructuring them."
(GK)
speaking to the Banking Standards Commission he said: "The whole idea of a bank being 82%-owned by the taxpayer, run at arms' length from the government, is a nonsense. It cannot make any sense.
"I think it would be much better to accept that it should have been a temporary period of ownership only, to restructure the bank and put it back. The longer this has gone on the more difficult that's become.
"This has dragged on unnecessarily long. I don't want to blame anyone for this but I think the lesson of history is we should face up to it.
"RBS is worth less than we thought and we should accept that and get back to finding a way to create a new RBS that could be a major lender to the UK economy.
"It's four-and-a-half years on (since RBS's rescue) and there is no immediate sign of it going back to the private sector. So I think that means that we have not been sufficiently decisive in either recapitalising the banks or restructuring them."
(GK)
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RBS, which owns NatWest and Ulster Bank, have said services should be "largely back to normal" today (Monday) following computer problems that have affected thousands of customers. The banks will extend branch opening hours for a fifth day in an effort to help clear a backlog of work.
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RBS, which owns NatWest and Ulster Bank, have said services should be "largely back to normal" today (Monday) following computer problems that have affected thousands of customers. The banks will extend branch opening hours for a fifth day in an effort to help clear a backlog of work.
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Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
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Central Bank Governor Expects 'Substantial Loan'
The governor of Ireland's Central Bank has announced he expects the State to accept a 'substantial loan' from the EU. Patrick Honohan said this morning that a sum up to "tens of billions" would be expected in order for Ireland to secure its banks.
Central Bank Governor Expects 'Substantial Loan'
The governor of Ireland's Central Bank has announced he expects the State to accept a 'substantial loan' from the EU. Patrick Honohan said this morning that a sum up to "tens of billions" would be expected in order for Ireland to secure its banks.
26 June 2012
RBS Bank Problems Keep Man In Cell
A man who had been granted bail spent the weekend in prison because of the RBS computer systems breakdown. The defendant, who has not been identified, was allowed bail at Canterbury crown court in Kent on Friday but was kept in a remand cell until Monday because it was not clear whether his bail surety had been paid.
RBS Bank Problems Keep Man In Cell
A man who had been granted bail spent the weekend in prison because of the RBS computer systems breakdown. The defendant, who has not been identified, was allowed bail at Canterbury crown court in Kent on Friday but was kept in a remand cell until Monday because it was not clear whether his bail surety had been paid.
01 April 2009
G20 Protesters Attack RBS Bank
Riot police have been forced to take action as angry G20 summit protesters have forced their way inside an RBS office in London as violent clashes escalate. Windows were smashed at the branch and a number of demonstrators attempted to force their way through lines of officers who hit back with batons.
G20 Protesters Attack RBS Bank
Riot police have been forced to take action as angry G20 summit protesters have forced their way inside an RBS office in London as violent clashes escalate. Windows were smashed at the branch and a number of demonstrators attempted to force their way through lines of officers who hit back with batons.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
