Banks accused of failing borrowers: related news

Banks accused of failing borrowers

Banks have been accused of failing to keep their word on maintaining the flow of mortgage finance to would-be homeowners.

Uniform rates on bulk deposits hit small banks

MUMBAI: Small public sector banks have complained to finance secretary Arun Ramnathan that they are unable to mobilise deposits following the decision by PSU banks to offer uniform rates on bulk deposits. Smaller banks have said corporates were choosing large PSU banks over small banks for parking surplus deposits.

Party over for Irish borrowers as foreign banks owed almost US$1.2-trillion

Borrowers in Ireland, one of Europe's smallest countries, have racked up one of its biggest debt mountains, topping a trillion dollars, according to figures released by the Bank for International Settlements. Borrowers in Ireland, including a fast-growing international financial services industry based there, owe foreign banks almost US$1.2-trillion -- roughly half as much as those in Germany and almost as high as Spain's US$1.3-trillion. It puts Ireland in a trillion-dollar club, shoulder to shoulder with five of Europe's biggest economies, including Germany, France and the United Kingdom. One of Europe's smallest countries by population, Ireland has become one of its wealthiest in terms of per capita GDP but is now grappling with recession after a property bubble bust.

Banks not in a hurry to cut rates

MUMBAI: A likely cut in lending rates by banks may fall short of borrowers’ expectations. While some banks may do a token rate cut this week, and lower the rates for small-ticket home loans, many banks will take a call on bringing down rates across the board after the advance tax outflow, which takes out the liquidity from the system.

Banks' NPAs rise, don't compromise on credit quality: RBI

Mumbai, Dec 17 (PTI) The Reserve Bank of India today cautioned the banks against any compromise on quality of credit saying aggressive lending to the real estate and housing sectors, particularly by private and foreign banks, had led to a rise in NPAs for the first time in six years. The non-performing assets of banks shot up by Rs 6,136 crore to touch Rs 56,435 crore by the end of 2007-08, a development that is associated with defaults and non-payments by borrowers.

Banks, Lending and the Economy

Commercial banks have always played and, as far as I can see, will always play a role in the health of the economy. Commercial banks represent a kind of fulcrum of economic activity. If commercial banks are not lending at all, or are not moving toward an acceleration of lending, then one can bet that the economy will not be moving ahead in the near future. If commercial banks are lending modestly or are accelerating their lending, then it can be anticipated that the economy will be expanding or even over-heating.

Danish banks face tough times

(RTTNews) - The international financial crisis has affected the Danish banking sector adversely, the Danmarks National Bank said Monday. Banks were faced with the prospect of reducing their balance sheets.Currently, government guarantee for the banks' unsecured claims had facilitated access to liquidity. However, banks could face difficulties in obtaining finance given the present negative financial results of banks.

WRAPUP 1-Four Canadian banks report, profit falls at three

By Lynne Olver TORONTO, Dec 4 (Reuters) - Three of four Canadian banks reported lower profits on Thursday, but the results of the big players were either in line with market expectations or with the banks' own warnings in recent weeks. 'I would categorize today as a no-big-surprise day, which is a good thing in this environment,' said Craig Fehr, a financial services analyst at Edward Jones. Canadian banks are reporting results as financial services companies around the globe continue to grapple with the financial crisis and the sliding value of complex derivatives on their books. Many Canadian banks avoided large losses in this area, but they are facing fallout from the economic and stock market downturn, such as weaker profits from wealth management and rising loan-loss provisions.

Foreign Strategic Stakes in Chinese Banks

China's economy has been one of the fastest growing in the world. From 2003 to 2007, China's gross domestic product (GDP) grew 10.6% annually and by the end of 2007, China had became the fourth-largest economy in the world. The rapid economic growth has attracted many foreign investments to China's various industries. The banking industry has been one of the favorites, thanks to China's banking reforms and the process of opening up the financial industry. While legal restrictions make it difficult for individual foreign investors to invest directly in many Chinese banks, many Western banks have taken strategic stakes in Chinese banks over the last five years, and their shares offer an opportunity for investors to participate, albeit indirectly, in these banks' future growth.

DEALTALK-Santander's deal bodes well for European banks

By Daisy Ku LONDON, Nov 28 (Reuters) - Top Spanish bank Santander's full take-up for its jumbo 7.2 billion euro ($9.3 billion) rights issue bodes well for other potential European issuers, but only for the strongest players. Santander sees its core tier 1 capital ratio rising to 7.7 percent from 6.3 percent when it gets its funds, putting pressure on other European rivals to move to new standards of 7 percent for retail banks and over 8 percent for wholesale banks. 'Investor and regulatory pressure mean the bar has been raised for banks,' said a London-based banker. Since July 2007, 33 European banks have raised $115 billion in equity capital in total, with rights issues accounting for $90 billion, or 78 percent, Thomson Reuters data showed.

Banks accused of 'unacceptable' behaviour towards farmers

A NUMBER of leading banks have been accused of placing increased pressure on farm businesses following a survey of Scottish farmers.

Banks accused of being Scrooge-like as SMEs struggle to find loans

The Federation of Small Businesses accused banks of being 'Scrooge-like' as its poll of 5,000 members showed that 30 per cent had seen an increase in the cost of banking in the past two months

UK, Banks accused of being Scrooge-like as SMEs struggle to find loans

The Federation of Small Businesses accused banks of being 'Scrooge-like' as its poll of 5,000 members showed that 30 per cent had seen an increase in the cost of banking in the past two months

Banks to provide information on salaries, interest to LTU

ISLAMBAD (January 06 2009): Banks would provide information on salaries and interest to the Large Taxpayers Unit (LTU), Karachi for monitoring of withholding taxes from the banking sector. It has been learnt here on Monday that the banks, who received notices for monitoring of the withholding taxes, have approached the LTU with the plea that it would be difficult for banks to simultaneously provide all kinds of withholding taxes related information in consolidated form.

Are banks making more money from savers than ever before?

As savings rates continue to plummet in the UK while banks appear intent on maintaining relatively high mortgage rates compared to the base rate, there is a feeling that UK savers are being used to fund more expensive consumer finance. As well as borrow money from the money markets the UK banks are allowed to lend against their asset base which is in effect their savings customers and loan customers. With many savings rates falling to around 0% already it appears the banks are already making "hay while the sun shines" by using savers deposits to increase their returns from customers lending money.

Foreign banks imperil TA rail project

Funding for the Tel Aviv light rail project is in jeopardy after the banks slated to finance the project advised the tender winner, the MTS group, that they cannot meet their obligations. The Royal Bank of Scotland, and KfW and Bayern banks of Germany, were to have lent ?1.4 billion through a consortium. The widening financial crisis is believed to be a major culprit in the banks' decision to withdraw from the project.

Weak Banks in Japan; Sanyo Electric Offer

Tokyo stocks fell marginally but for th week Nikkei 225 index plunged 7%. Japan lawmakers are likely to pass banks recapitalization plan next week allowing government to take direct stakes in struggling banks. Goldman Sachs slashed price targets for most banks by 50%. Honda trimmed wrkforce.

ACTIVITIES OF BANKS

That this House welcomes the actions of those banks which have already announced measures to help both small businesses and homeowners through the economic downturn; in particular welcomes pledges not to initiate repossession proceedings for a full six months after a customer first falls into mortgage arrears; further welcomes announcements to pass on base rate changes in full to commercial customers with a turnover of less than one million pounds in order to maintain constant price and availability of overdrafts during customer agreement periods, and to agree to any reasonable request for short-term finance for supporting viable businesses through temporary difficulties; and calls on the Government to ensure that the lead taken by those banks in receipt of Government funding is quickly followed by all banks, in order further to alleviate

CBN and banks offshore branches

The recent prudential/statutory requirements rolled out by the Central Bank of Nigeria (CBN), to Nigerian banks with offshore operations and others intending to do so, is a timely necessity that can help protect and strengthen the financial base of the banks at home. The requirements can also act as safety nets for the subsidiary banks in times of financial turbulence.

We are the banks

The past 18 months was a story about the collapse of lending to banks and by banks - and about how we as taxpayers came to the rescue by providing £600bn of loans, guarantees and capital to the banks, to keep them afloat.

How Much Do Banks Use Credit Derivatives to Hedge Loans?

Before the credit crisis that started in mid-2007, it was generally believed by top regulators that credit derivatives make banks sounder. In this paper, we investigate the validity of this view. We examine the use of credit derivatives by US bank holding companies with assets in excess of one billion dollars from 1999 to 2005. Using the Federal Reserve Bank of Chicago Bank Holding Company Database, we find that in 2005 the gross notional amount of credit derivatives held by banks exceeds the amount of loans on their books. Only 23 large banks out of 395 use credit derivatives and most of their derivatives positions are held for dealer activities rather than for hedging of loans. The net notional amount of credit derivatives used for hedging of loans in 2005 represents less than 2% of the total notional amount of credit derivatives held b

China to let foreign banks trade bonds more freely

BEIJING, Dec 5 (Reuters) - China said on Friday that it would expand the business scope for foreign banks registered in the country by allowing them to trade bonds for their clients in the interbank market. "Foreign incorporated banks in China will be allowed to trade bonds in China in the interbank market both for their customers or their own accounts on the same basis as Chinese-invested banks,"according to a four-page fact-sheet distributed after a two-day meeting of the Sino-American "Strategic Economic Dialogue".

Europe - Europe`s central banks set to cut rates sharply, New Star looks set for delisting as banks agree control, Buy-out groups eye Irish banks, Anglo-Irish Bank profits fall, shares drop, Commerzbank to shut M&A business, cut jobs in London

Alternative Market Briefing will update you on all important news and developments in the alternative investment industry.

Irish Government to recapitalise country's three biggest banks

Commenting on the Irish Government's plans to recapitalise the country's three biggest banks, Kevin Mountford, head of banking at moneysupermarket.com said: "British savers were attracted to the Irish banks two months ago when the Irish Government announced it would guarantee 100 per cent of deposits until September 28, 2010, outstripping the deposit protection available in the UK. Since then Anglo Irish in particular has been offering marketing leading savings rate and has attracted a lot of new custom from British savers. Many of these people, including customers with savings in the Post Office and Bristol & West, which are both backed by Irish banks, will have been very concerned to see media reports that these institutions were in trouble.

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