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The metro related part says “Metro Bank jumped 113p, or 7.9 per cent, to £15.43 before its full-year results tomorrow. Traders said that the jump was thanks to short-sellers covering their positions in case the results are better than expected.“

Definitely felt like De Nero earlier after Trumps tweet. The awards ceremony where all he said was “f**k trump”!

Pfg is x10 the market cap of nsf as well!

Hopefully the accounting error was just that and the bad news to out and baked in. News like the bbc article is great to see as it gives a big push for those taking out mortgages etc where metro has been growing fast anyway. Also interesting was RBS stating it would lower its capital buffer which was lower than metros pre-error 19% anyway - was surprised how high this was (of course the challenger banks have more stringent limits than the big four)

The uncertainty around any RI puts many off but of course that’s an opportunity for others.

Two mentions as well. One recommending you avoid metro shares and the other a repeat of the bucketing of risk debacle.

The chance that they will raise capital does make me want to hold cash and wait rather than topping up, others must be in a similar position so keeping a lid on the SP. what with the current political turmoil cash has a few positives at the moment! Hoping any raise is not the full 300mm but as you say the expectation has been put out there. I remember PFG had an RI that caused a huge short squeeze so I can always hope for that - 71% one day rise that day :-)

The capital buffer was above 19%, then adjusted to around 15% once they correctly risked the commercial loans - so they still have more than strictly required by the BoE.

Thanks for the links. Shame that the telegraph one highlights a problem with 2FA that is affecting many online businesses by using metro as a headline example! Not out of the woods yet I guess

And no appearance of metro in the papers so far, hopefully the sp will be left to recover now

More reporting of cash call and the difficulties even for metro to do this. I know the corrected rating of £900m of commercial loans caused the capital ratio to drop from 19.1 to 15.8% but this is still well above the minimum so see reputational damage but not the need for more cash to restore what was a high ratio.

If you have life sentences that mean life people have faith in the system, but now a life sentence is around 14 years or half that with good behaviour (obviously that starts the day after the murder...). Start messing around with what people understand life to mean and they push back as trust is being eroded.

If there is any difference in SP on different broker sites auto trading apps will profit and remove the difference before you even notice. An incredible amount of money is put into such apps. The market for Metro has a high enough volume to keep the spread tight but if course the SP varies over the day.

Hopefully no bear trap! but recover from yesterday’s overreaction - and long may that continue

You obviously didn’t and your name calling is weak/childish. MTRO incorrectly categorising loans can be put down to error rather than intentional at the moment which is unlike subprime. But after 2008 all banks would have had to beef up their compliance depts to prevent this sort of thing happening- intentionally or otherwise. The fact it still happened puts a question mark over MTRO, any more issues discovered like this and that spells trouble, hence the big drop.

Gary, you should re-read my comment you’ve obviously not understood it.

Incorrectly risk-assessing loans has echos of sub-prime mortgages which helps explain the overselling imo today

A top up at 70.3 - the dip at EOD when it was holding above this all day seems like an opportunity- time will tell

Is the $45 pb breakeven referring to Brent or WTI? That’s quite a buffer if it is Brent

Obama had several govt shutdowns as I recall, seems to be becoming a feature of US political brinkmanship when dems/republicans lock horns.