UK chancellor tells banks to chop bonuses

Instead of reducing loans on their balance sheets, which could starve the wider economy of credit, they should build up their capital reserves, possibly by tapping shareholders, the FPC added.


Lawyers wrangle over RBS 'gamble'

The bank's former directors include Sir Tom McKillop, who was RBS's chairman, and Sir Fred Goodwin, who orchestrated its expansion as chief executive.


KPMG receives industry recognition

KPMG picked up the Audit Award of the Year for its work with a new client, with the judges recognising that the firm had provided “innovative ways of adding value” and done so quickly.


B of I sells discounted loans to Tokyo bank

The announcement came as French bank BNP was said to be considering selling a private-equity portfolio. This could be worth more than $700 million, according to the Financial Times .


Euro banks need to deleverage

If correct, the estimate means that Europe faces a severe credit crunch even if its political elites agree to issue jointly guaranteed bonds and the ECB launches quantitative easing.


Europe’s single currency may unravel before action - UBS

European bonds slumped after Germany failed to draw bids for 35 percent of the offered amount at an auction of 10-year bunds this week, stoking concern the region’s debt crisis is infecting even the safest sovereign securities.


German banks want more time to raise capital

German banks appealed Thursday for more time to submit plans on raising their cash reserve levels to meet strict new capital requirement rules, according to a letter seen by AFP on Thursday.