"A European Commission plan to separate lenders’ consumer and investment-banking arms must be halted, said KPMG, auditor to some of Europe’s largest banks.
Proposals to harmonize rules for bank structure across the 28-nation European Union “should be shelved,” the accounting firm said today in an e-mailed statement.
The plans “will not add significant value alongside other regulatory reforms,” KPMG said, while countries including the U.K., France and Germany are already pursuing their own requirements on separating lenders’ trading and deposit-taking units." (Reuters)
Britons borrow record amount to own home: U.K. homeowners and first time buyers borrowed £19.1 billion in July to either get on the ladder or buy their next home, the highest monthly figure since the 2008 property crash.
Osborne declines to share details of Co-op meetings: George Osborne has declined to hand over details of meetings between Treasury officials and senior bankers to discuss the Co-op Bank’s failed attempt to buy 631 branches from Lloyds Banking Group.
wo policymakers voted for an immediate interest rate hike, indicated the BoE minutes
Minutes of the Bank of England’s (BoE) policy meeting in August revealed that two members, Martin Weale and Ian McCafferty voted for an immediate hike in the key interest rate to 0.75%. The rest of the Monetary Policy Committee (MPC) members voted to keep the rate at 0.5%. The MPC members were unanimous on maintaining the asset purchase facility at £375 billion. Additionally, the minutes showed that officials had downgraded the wage growth forecast for this year and placed more importance on sustainable growth rate.
S&P at (nearly) an all time high, ftse and Dax lagging, surely a stimulus announcement from the ECB on Friday, with the Dax bouncing comfortably off 9250 it could be a really good long play into the weekend, as for lloyds, bullish momentum returning
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