RBS

  • 21 Nov 2014 at 12:09 PM

RBS Messed Up But It’s Okay

rbs1-260x175RBS’s full-year 2016 capital ratio under the European Banking Authority’s “Adverse Scenario” is 5.7% versus 6.7% previously reported—meaning the bank just hurdled the minimum 5.5% pass rate. The EBA organized the stress tests, which were aimed to help restore confidence in bank balance sheets. RBS said it erroneously considered around billions of pounds of deferred tax assets as top quality capital. After comparing with other U.K. banks it realized its error and restated the calculation. [WSJ]

  • 03 Nov 2014 at 1:53 PM
  • Banks

RBS To Use Criminal Expertise For Good

New, New Scotland YardHaving spent a number of years getting pretty good at doing shady, underhanded, litigable and occasionally (allegedly!) illegal things, the Royal Bank of Scotland is ready to teach London’s finest how to catch others doing the same—the next step in its ongoing charm offensive. Read more »

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 »

  • 23 Jun 2014 at 2:42 PM

Bonus Watch ’14: RBS

Royal Bank of Scotland execs are going to receive bonuses, even though the UK government owns 81 percent of the place and it has only earned a profit six out of a possible 24 times since 2008. So this is cause for excitement. 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 »