RBS

rbsIf you’re going to team up with other banks to manipulate interest rates and engage in other shady behavior, just make sure to be the first one to go to regulators and let them know what you’ve all been up to. Read more »

The world’s biggest banks are overhauling how they trade currencies to regain the trust of customers and preempt regulators’ efforts to force changes on an industry tarnished by allegations of manipulation. Barclays Plc, Deutsche Bank AG, Goldman Sachs Group Inc., Royal Bank of Scotland Group Plc and UBS AG, which together account for 43 percent of foreign-exchange trading by banks, are introducing measures to make it harder for dealers to profit from confidential customer information and take advantage of clients in the largely unregulated $5.3 trillion-a-day currency market, according to people with knowledge of the changes. Banks have capped what employees can charge for exchanging currencies, limited dealers’ access to information about customer orders, banned the use of online chat rooms and pushed trades onto electronic platforms, according to the people, who asked not to be identified because they weren’t authorized to discuss their firms’ practices. [Bloomberg]

  • 26 Jun 2014 at 2:30 PM
  • Banks

Bonus Watch: R.B.S.

Chairman Sir Philip Hampton went seriously off-message yesterday, accepting the somewhat tenuous proposition that the comically-large bonuses of days gone by might have had something to do with the recent recession. On the bright side: R.B.S. has slashed bonuses by 75%, so no one needs fear another economic crisis. Read more »

  • 27 May 2014 at 3:34 PM

Layoffs Watch ’14: RBS

The bank is set to relieve a whole bunch of employees of the need to come into the office (ever again). Read more »

  • 02 May 2014 at 8:45 AM

Royal Bank Of Scotland Stuns Universe

They said it would never happen. Said they couldn’t do it. Said there wasn’t even a point in trying. Laughed at the prospect. Scoffed at the mere thought. Jeered at them in the City. Snickered about their pipe dreams in the pub. Shouted, “Come on now, mate, just give up already.”

They were wrong. Read more »

Maybe some banks pay any old bonuses they want (despite continuing to lose money) in order to keep up with the Joneses, Goldmans, and JPMorgans of the world, but RBS isn’t going to be one of them! Not while it lives under the government’s house! Read more »

  • 26 Feb 2014 at 10:45 AM

Bonus Watch ’14: RBS

Employees of the royalest bank in the UK should expect lower bonuses for 2013, but they will have the opportunity to serve tea and haul feta for customers free of charge, so things even out. Read more »