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

Laurentian Bank to announce its third quarter results on August 29, 2017

*MONTREAL, QUEBEC--(Marketwired - Aug. 15, 2017) -* On Tuesday, August 29, 2017, Laurentian Bank of Canada (TSX:LB) will publish its third quarter financial...
Marketwired - Press Releases

Bank of Canada Report: Imagining a “Bitcoin Standard” Financial System

Bank of Canada Report: Imagining a “Bitcoin Standard” Financial System
In a 37-page long research paper, Warren E. Weber, research consultant at Bank of Canada who is also a visiting scholar at the Federal Reserve Bank of Atlanta...
Bitcoin Magazine - MarketsAlso reported by •The Cointelegraph

Britain’s new bank notes: secure, durable, but not for vegetarians

The Bank of England got some pushback when it decided to print new bank notes on polymer, which uses tallow — a hard, fatty substance usually made from...
Seattle Times - Front Page

Commonwealth Bank chief Ian Narev to leave bank by end of financial year

Commonwealth Bank chief executive Ian Narev will leave the bank by the end of this financial year.
Brisbane Times - Front Page

CIBC takes over PC Financial bank accounts, launches Simplii banking brand

CIBC takes over PC Financial bank accounts, launches Simplii banking brand
The Canadian Imperial Bank of Commerce is taking over President's Choice Financial bank accounts with a new online brand as it responds to the continuing trend...
canoe.ca - Americas


You Might Like


Other recent news in Markets

North Korea Threatens "Merciless Strike" As US-SOUTH KOREA Wargames BeginLeaked Chat Logs Reveal White Supremacists Joked About Ramming Charlottesville Counter-Protesters Before Event
Missile Destroyer USS JOHN MCCAIN Collides With Oil Tanker Near Straits Of Malacca"The Taps Are Gushing" HONG KONG ATM Withdrawals Surge As Facial Recognition Fears Spread
Mnuchin Rejects Call From YALE CLASSMATES To Resign, Defends TrumpTrump To Address Nation Tomorrow On "New Path Forward" In AFGHANISTAN
Losing Streak May Continue For SINGAPORE Shares

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+