Edition: Global  
One News Page
“Probably the fastest-access news portal in the world”
> >

Bank Of England Warn Of "Challenging" Outlook For Britain's Financial System

Zero Hedge Wednesday, 30 November 2016
*Ulster Bank Parent RBS Fails Bank of England Stress Test*



"Royal Bank of Scotland (RBS)(RBS.L) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year's Bank of England stress test, which warned of a *"challenging" outlook for Britain's financial system*.

The state-backed lender rushed out a statement following the announcement to say it would take a range of actions, including selling off bad loans and cutting costs to make up the capital shortfall identified by the tests of around 2 billion pounds.

The unexpected result underlines the litany of problems RBS is grappling with, which include a mounting legal bill for misconduct ahead of the 2008 financial crisis and difficulties selling off assets such as its Williams & Glyn banking business.

The lender said it had agreed a plan of action with the Prudential Regulation Authority, the Bank of England's enforcement arm, that should mean it does not have to tap markets to raise the money needed."
From Reuters



We warned of the RBS, Ulster Bank *‘£100 Billion Black Hole’* and the bail-in risk due to the ‘danger of failing' in June 2014 here

Bail-ins can now be used in the UK, EU, U.S. and G20 countries. Banks internationally and especially in Europe remain vulnerable.

After Cyprus, which country will be the next to suffer bail-ins? Will RBS and by extension Ulster Bank, be the first UK and Irish banks to be subject to bail-ins?

*Download Guide Here*

*Gold and Silver Bullion - News and Commentary*

*Gold prices firm as markets brace for OPEC meeting (Reuters.com)*

*Trump to tap ex-Goldman Sachs banker Steven Mnuchin as Treasury secretary (MarketWatch.com)*

*Trump to name Wilbur Ross as commerce secretary (MarketWatch.com)*

*Gold prices register third decline in 4 sessions (MarketWatch.com)*

*Trump is meeting with an ex-bank CEO who wants to abolish the Federal Reserve and return to the gold standard (BusinessInsider.com)*

*War on Cash and Gold In India to Benefit Silver? (TheConversation.com)*

*Trump Considers Strong Gold Standard Advocate for Treasury Secretary (AveryBGoodMan.com)*

*Italy Seen More Likely To Exit Eurozone Than Greece; Italian Bond Yields Surge (ZeroHedge.com)*

*What Investors Can Learn From Gold Priced In Yen? (Gold-Eagle.com)*

*Palladium: Signals of Market Supply Shortage (SafeHaven.com)*

*Gold Prices (LBMA AM)*

30 Nov: USD 1,187.40, GBP 952.06 & EUR 1,115.44 per ounce
29 Nov: USD 1,187.30, GBP 952.45 & EUR 1,119.98 per ounce
28 Nov: USD 1,189.10, GBP 956.51 & EUR 1,117.99 per ounce
25 Nov: USD 1,187.50, GBP 953.30 & EUR 1,121.83 per ounce
24 Nov: USD 1,187.25, GBP 953.60 & EUR 1,125.04 per ounce
23 Nov: USD 1,213.25, GBP 980.00 & EUR 1,143.00 per ounce
22 Nov: USD 1,217.55, GBP 978.91 & EUR 1,144.98 per ounce

*Silver Prices (LBMA)*

30 Nov: USD 16.67, GBP 13.39 & EUR 15.66 per ounce
29 Nov: USD 16.54, GBP 13.26 & EUR 15.61 per ounce
28 Nov: USD 16.68, GBP 13.45 & EUR 15.73 per ounce
25 Nov: USD 16.47, GBP 13.21 & EUR 15.55 per ounce
24 Nov: USD 16.31, GBP 13.09 & EUR 15.43 per ounce
23 Nov: USD 16.56, GBP 13.36 & EUR 15.59 per ounce
22 Nov: USD 16.76, GBP 13.46 & EUR 15.77 per ounce

*
Recent Market Updates*

*- Peak Silver – Supply Deficits Mean Higher Prices*
*- Bail In Risk – €4 Trillion Banking System In Italy Poses Contagion Risk as Referendum Looms*
*- Gold Down 13.5% In 13 Days – Trump Bearish For Gold?*
*- War On Cash Just Got Real – India and Citibank In Australia*
*- Russia Gold Buying In October Is Biggest Monthly Allocation Since 1998*
*- Stocks, Bonds, Pension Funds “Will Be Wiped Out…” – Rickards*
*- Physical Gold Is A “Long-Term Position” as “Hedge Against Governments”*
*- Gold Sell Off On Fed Noise – “Interesting Times” To “Support Gold”*
*- Islamic Gold – Vital New Dynamic In Physical Gold Market*
*- Peak Gold Globally – “Bullish For Gold”*
*- Gold Price Should Go Higher On Global Risks and Trump – Capital Economics*
*- President Trump – Why Market Loves Him and Experts Wrong*
*- ‘Helicopter Money President’ Trump To Create Inflation and Gold Will Rise*
0
shares
Share on
Facebook
Share on
Twitter
Post on 
Reddit
Share by
Email
 
Source: Reuters Studio - < > Embed

News video: RBS fails stress test: BoE outlook "challenging"

RBS fails stress test: BoE outlook "challenging" 01:40

Royal Bank of Scotland says it will cut costs and sell loans to boost capital levels after failing this year's Bank of England stress test of seven British lenders. As Hayley Platt reports, Bank Governor Mark Carney also warned of a "challenging" outlook for Britain's financial system.

Recent related news

Bank of England's Mark Carney has been spotted at the White House

Bank of England's Mark Carney has been spotted at the White House
The Bank of England governor was spotted at the White House yesterday. But before speculation could go into overdrive about any possible moves to a new...
City A.M. - Business

George Orwell's Monetary Policy

George Orwell's Monetary Policy
Via Global Macro Monitor, *“Tightening is Easing”* *Since U.S. monetary policy began tightening in December 2015, the Fed has added liquidity to...
Zero Hedge - Markets

REMINDER: Laurentian Bank to announce its 2nd quarter results on May 30, 2017

*MONTREAL, QUEBEC--(Marketwired - May 23, 2017) -* On Tuesday, May 30, 2017, Laurentian Bank of Canada (TSX:LB) will publish its second quarter financial...
Marketwired - Press Releases

Huawei Holds Fifth Global Financial Summit in Beijing

- Open Ecosystem and ICT Innovation Accelerates Banking in the Cloud BEIJING, May 24, 2017 /PRNewswire/ -- On May 23, 2017, Huawei held its fifth Global...
PR Newswire Asia - Press Releases

Bonum Pankki Oyj: Bonum Bank Plc and POP Bank Group: Half-Year Financial Reports will be published on 22 August 2017

*Bonum Bank Plc and POP Bank Group: Half-Year Financial Reports will be published on 22 August 2017* Bonum Bank Plc Stock Exhange Release 19May 2017 at...
GlobeNewswire - Press Releases

INVEST Financial Announces Recruitment of Three Financial Institutions with Combined Total Assets of Over $5.5 Billion

INVEST Financial Announces Recruitment of Three Financial Institutions with Combined Total Assets of Over $5.5 Billion
TAMPA, Fla.--(BUSINESS WIRE)--INVEST Financial Corporation (INVEST), a member of National Planning Holdings®, Inc. (NPH), one of the nation’s largest...
Business Wire - Press Releases

Paytm Payments Bank: Features, interest, fees and all you need to know

Paytm has finally rolled out its Payments Bank, which is an almost-complete banking solution offered by the company. The digital wallet and e-commerce service...
BGR India - Technology

Andhra Bank shares down over 4% on disappointing Q4 results

Andhra Bank shares fell by over 4 per cent on Wednesday after the bank posted 32 per cent decline in net profit for the last quarter of 2016-17 financial year....
IndiaTimes - Business


You Might Like


Other recent news in Markets

California MILLION-Dollar Home Sales Hit An All Time HighMontana REPUBLICAN "Body-Slams" Guardian Reporter Over Healthcare Question
House Democrats Ask Deutsche Bank If Trump Accounts Have RUSSIA TiesTRUMP MEETS POPE - Nothing Crazy Happens
SAN FRANCISCO Launches Public Defender Office Dedicated To Illegal Immigrants"Secret" Russian Document Influenced Comey's Probe Into HILLARY CLINTON: Report
Global PETROLEUM, Natural and Synthetic Waxes Strategic Business Report 2017-2022: Focus on PETROLEUM and Mineral Waxes, Natural Waxes & Synthetic Waxes - Research and MarketsSoftBank Reportedly Amasses $4 Billion Stake in NVIDIA
Perfect Corp. & L'Oréal Paris Team Up at CANNES FILM FESTIVAL to Showcase 64 AR Beauty LooksEl Al ISRAEL Airlines Presented Today its Financial Results for the First Quarter of 2017

Twitter

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2017 One News Page Ltd. All Rights Reserved.  |  About us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Privacy Policy  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Help  |  Contact us  |  DMCA / Content Removal
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter   FIND us on Google+