Martin Arnold is joined by Sharlene Goff for news that Lloyds has been fined £226m for its part in the Libor manipulation scandal. Included in this was £8m for attempts to reduce the amount it paid back to British taxpayers following its government bailout. Daniel Schäfer reports on Deutsche Bank, which has received a letter from the US Federal Reserve that was highly critical of the quality and reliability of its reporting. And finally, Harriet Agnew joins Daniel and Martin to discuss the conti...
Jul 28, 2014•1 min
Patrick Jenkins is joined by Sam Fleming to discuss whether world leaders will be able to agree measures to solve the problem of "too big to fail" banks when the G20 meets later this year in Brisbane. Martin Arnold has news of US banks' second quarter results, where the footnote du jour is that profits took a hit as regulators imposed fines for various misdemeanours. Finally, Sam joins Daniel Schäfer to discuss the latest from the foreign exchange scandal, where the UK's Serious Fraud Office bri...
Jul 21, 2014•1 min
With the new Competition and Markets Authority expected to beguin an investigation into the competitiveness of Britain's retail banking sector, Richard Lloyd, executive director of consumer body Which?, joins Patrick Jenkins to discuss the areas that warrant attention. Also on the show, the FT banking team reports the latest development in the Forex scandal as the Department of Justice offers junior traders immunity deals, and looks developments in Portugal, where the troubles of Banco Espírito ...
Jul 14, 2014•1 min
Citi banks analyst Ronit Ghose joins the banking team to discuss the "investability" of European banks in light of the recent fine on BNP Paribas. Also on the show: How UK banks have been scaring customers unnecessarily with legal letters, and how western banks operating in Iraq have reacted to the advance of Isis. Patrick Jenkins is joined by Martin Arnold, banking editor and Sharlene Goff, retail banking correspondent. Hosted on Acast. See acast.com/privacy for more information....
Jul 07, 2014•1 min
Patrick Jenkins is joined by Martin Arnold, banking editor, for news on BNP Paribas, which has agreed to a fine of 8.9bn for dodgy dollar dealing. The French bank also has six months to prepare for a 12 month ban on dollar trading. Also on the agenda this week, Sam Fleming discusses the latest report from the Bank of International Settlements, and Sharlene Goff has news of more woes for Wonga, who must pay out millions in compensation to customers after chasing debt using fake law firms. Hosted ...
Jun 30, 2014•1 min
The banking team look TSB, Britain's seventh-biggest lender, as it floats on the London Stock Exchange, further reforms in foreign exchange trading as big banks move to automate processes to save money and miminise the risk of market manipulation and then that the brewing scandal at Banco Espirito Santo, Portugal's biggest bank, over the management of the group by the dynasty that has controlled it for decades. Martin Arnold, banking editor; Sharlene Goff, retail banking correspondent; Daniel Sc...
Jun 23, 2014•1 min
Patrick Jenkins is joined on the line by Jamil Anderlini, Beijing bureau chief, for news of the Chinese shadow banking sector, marking the start of a week-long FT series on shadow banking across the globe. Daniel Schäfer looks at credit default swaps, which have dropped in price and are proving more attractive than pricier government bonds. Finally, Martin Arnold has news from the UK payday lending sector, where Wonga's founder-chairman is departing and high street banks are considering entering...
Jun 16, 2014•1 min
Patrick Jenkins is joined by Sam Fleming for news of the Bank of England's latest systemic risk report. The results showed growing concerns among bankers over geopolitcs but confidence in dealing with any forthcoming property crash. Martin Arnold has the latest on Lloyds' flotation of TSB, where a subdued market is pushing the expected price down to around 15 per cent below book value. Finally, Martin and Michael Stothard, Paris correspondent, have an update on BNP Paribas, where Francois Hollan...
Jun 09, 2014•1 min
How the European Central Bank's monetary loosening policy might affect the continent's banking sector, the increasing competition for UK retail depositors' money from new challengers, and the growing political outrage in France over a $10bn fine imposed on BNP Paribas by US regulators. Sam Fleming, financial policy correspondent, Sharlene Goff, retail banking correspondent and Michael Stothard, Paris correspondent, join Martin Arnold. Hosted on Acast. See acast.com/privacy for more information....
Jun 02, 2014•43 sec
Patrick Jenkins is joined by Daniel Schäfer, investment banking correspondent, for news of Deutsche Bank, whose new €8bn rights issue is set to include €1.75bn from the Qatari royal family in a move that goes against co-CEO Anshu Jain's stated aim of steering clear of outside capital. Martin Arnold, banking editor, joins Daniel to discuss Credit Suisse, which is facing both monetary and criminal punishments over charges that it facilitated US tax avoidance. Senior Swiss politicians have also wei...
May 19, 2014•1 min
Martin Arnold is joined by Daniel Schäfer for the latest at Barclays, which has shifted £400bn of assets out of its investment arm, and has come under scrutiny from the UK Serious Fraud Office over a 2008 cash call that saw Qatari investors paid fees equivalent to more than 7 per cent of the capital invested. Sharlene Goff takes a look at Standard Chartered, whose protest vote last week over pay proposals was the biggest of its kind this year. Finally, Sam Fleming has news that banks are bracing...
May 12, 2014•11 min
This week, Patrick Jenkins and the banking team discuss the vexed issue of pay at RBS and Barclays, as RBS has its bonuses blocked at twice the level of salary by George Osborne, and Barclays gets criticised by angry shareholders at a recent AGM. Daniel Schäfer, investment banking correspondent, discusses Deutsche Bank’s long-rumoured capital shortfall and predicts how the bank might react in future. Finally, Sharlene Goff, retail banking correspondent looks forward to the release of the first r...
Apr 27, 2014•14 min
This week, Patrick Jenkins and the banking team discuss the vexed issue of pay at RBS and Barclays, as RBS has its bonuses blocked at twice the level of salary by George Osborne, and Barclays gets criticised by angry shareholders at a recent AGM. Daniel Schäfer, investment banking correspondent, discusses Deutsche Bank’s long-rumoured capital shortfall and predicts how the bank might react in future. Finally, Sharlene Goff, retail banking correspondent looks forward to the release of the first r...
Apr 27, 2014•14 min
Martin Arnold is joined by Sally Davies, technology reporter, to discuss Facebook's interest in financial services, as the social media giant outlines plans to provide remittances and electronic money. Daniel Schäfer explores the different ways in which banks are getting around new bonus cap regulations, and Sharlene Goff has the latest on the Co-operative Bank, where a shortage of funds at the Co-op Group may trigger a number of clauses agreed between the two Hosted on Acast. See acast.com/priv...
Apr 13, 2014•16 min
Martin Arnold is joined from Hong Kong by Henny Sender, chief international finance correspondent, for an inside look at BlackRock, where plans for Larry Fink's succession are picking up speed. Sam Fleming has news that the Financial Stability Board is considering putting asset managers under closer scrutiny, treating them as Global Systemically Important Financial Institutions, a classification currently reserved for big banks and insurers. Finally, Dan Schäfer looks ahead to Q1 results for the...
Apr 07, 2014•1 min
Patrick Jenkins is joined by Martin Arnold for the fallout from US stress tests, where CitiGroup failed qualitative elements of the tests, putting CEO Michael Corbat under increased pressure. Six foreign-owned US banks also failed some elements, including Santander, HSBC and RBS. Sam Fleming has news of the Financial Conduct Authority, which has come in for criticism after comments about life insurers saw shares for some firms fall 20 per cent before a hasty clarification settled the markets. Si...
Mar 31, 2014•21 min
Patrick Jenkins is joined by Martin Arnold for the fallout from US stress tests, where CitiGroup failed qualitative elements of the tests, putting CEO Michael Corbat under increased pressure. Six foreign-owned US banks also failed some elements, including Santander, HSBC and RBS. Sam Fleming has news of the Financial Conduct Authority, which has come in for criticism after comments about life insurers saw shares for some firms fall 20 per cent before a hasty clarification settled the markets. Si...
Mar 31, 2014•1 min
Patrick Jenkins is joined by Anne-Sylvaine Chassany, private equity correspondent, for a look at how debt investors are abandoning normal creditor protections and snapping up riskier "cov-lite" loans at a faster rate and in greater proportions than at the peak of the credit bubble. Martin Arnold reports back from his interview with Jean-Laurent Bonnafé, chief executive of BNP Paribas, who sees investment banking going through a deep transition period as a result of regulation, capital requiremen...
Mar 24, 2014•1 min
As Russian banks and corporations begin to make alternative plans in anticipation of asset freezes in the US and Europe, Patrick Jenkins is joined by Martin Arnold, Daniel Schäfer, Sharlene Goff and Neil Buckley, east europe editor, to discuss the ripples being caused in the banking world by events in Ukraine. The team also look at the banks suspending bonuses for those under investigation in the forex scandal and at Barclays where senior exec bonuses are set to drop. Finally, they discuss UniCr...
Mar 17, 2014•1 min
Patrick Jenkins is joined by Sam Fleming, Daniel Schäfer, Sharlene Goff and Martin Arnold to discuss the latest on the Forex scandal, as estimates of the total amount of fines begin to circulate, ranging from $5-30bn. They also look at executive pay at the Co-op Bank, where shareholders and bondholders are expected to be asked to waive the new EU bonus cap and approve packages worth 200 per cent of salary. Finally, things are looking up for Greece, where the sovereign bond yield has dropped to 7...
Mar 10, 2014•1 min
The banking team has the latest on Russia where the central bank hiked interest rates in response to falls in the Rouble and the stock market amid fears of international sanctions against the country. Also on this week's show is un update on restructuring at RBS, where Ross McEwan says he will have to drastically downsize RBS' US investment arm in order to duck below the $50bn assets threshold that would see the bank subject to new regulations. Finally, bankers' bonuses are back on the agenda as...
Mar 03, 2014•16 min
The banking team discusses the varying fortunes of HSBC and RBS, the latest spat between the EU and Greece over the treatment of the Greek banking system, and Deutsche Bank reveals some details about how it will cope with the new obligation for foreign banks operating in the United States to have a US holding companies. Patrick Jenkins is joined by Martin Arnold,banking editor; Sam Fleming, financial policy correspondent; Daniel Schäfer, investment banking correspondent, and Peter Spiegel, Bruss...
Feb 24, 2014•1 min
Martin Arnold, banking editor, is joined by Sharlene Goff to dissect diverging fortunes of Barclays and its staff, where pay has far oustripped performance. Daniel Schäfer has new insight into the methods used by traders at banks embroiled in the Forex scandal, and Sam Fleming explains why Lloyds is hot under the collar over proposed ringfencing measures Hosted on Acast. See acast.com/privacy for more information.
Feb 17, 2014•1 min
Sharlene Goff has the latest on leaks and breaches at Barclays, as the bank loses 27,000 customers' data, and 2013 profits emerge a day early. Sam Fleming reports that Daniele Nouy, the new head of the Single Supervisory Mechanism, will let weak Eurozone banks die, and Patrick Jenkins is joined over the phone by Simon Rabinovitch, Shanghai correspondent, for news that the Chinese Development Bank is squeezing some of its foreign clients as domestic monetary conditions tighten Hosted on Acast. Se...
Feb 10, 2014•1 min
The banking team is joined by former Liikanen committee member Marco Mazzucchelli to discuss the latest on structural reform to European banks, and Sam Fleming explains the scenarios set out by the European Banking Authority for its upcoming stress tests. Daniel Schäfer has news of Bank of America's $8.5bn payout over mortgage mis-selling, and Martin Arnold sheds light on Lloyds' profit warnings and dividend problem Hosted on Acast. See acast.com/privacy for more information....
Feb 03, 2014•1 min
The banking team dissects Davos, including Mark Carney's about turn on forward guidance, discusses Credit Suisse's move to offer a wipeout bond as a bonus, and questions British banks' IT systems as Lloyds falls victim to the latest failure Hosted on Acast. See acast.com/privacy for more information.
Jan 27, 2014•1 min
Patrick Jenkins, financial editor, is joined by Daniel Schäfer for news of the challenges facing Deutsche Bank in 2014, where weak fixed income trading and high litigation costs have brought about a substantial profit warning. Sharlene Goff outlines Ed Miliband's aggressive plans to break up the big four UK retail banks, and Martin Arnold, the new banking editor, looks ahead to Davos where banking heavyweights will be hoping for a scandal-free 2014 and time to focus on growth Hosted on Acast. Se...
Jan 20, 2014•1 min
Patrick Jenkins is joined by Sam Fleming for news that banks have won concessions on Basel III debt rules. Sharlene Goff makes sense of the departures at Stan Chart as share prices falter, and Daniel Schäfer looks at the US banks suffering reduced profits as fines hit the results of JPMorgan and BoA. Hosted on Acast. See acast.com/privacy for more information.
Jan 13, 2014•1 min
In the first podcast of 2014 the banking team looks ahead to the introduction of the new bonus cap, continued fallout from scandals and new regulatory measures on either side of the Atlantic. Patrick Jenkins is joined by Alex Barker, EU correspondent, for the latest draft proposal on risky trading and bank splits. Sharlene Goff discusses European Banking Authority stress testing, the bonus cap and the ongoing forex manipulation, misselling and interest rate swap scandals. Hosted on Acast. See ac...
Jan 06, 2014•1 min
Patrick Jenkins is joined by Daniel Schafer and Sam Fleming to discuss how the Volcker Rule could impact upon banks either side of the Atlantic. Sharlene Goff has news of the latest fines for part-nationalised banks RBS and Lloyds, and looks at how Ireland's exit from European bailout status could affect the Bank of Ireland and Allied Irish. Hosted on Acast. See acast.com/privacy for more information.
Dec 16, 2013•11 min
