Banking Weekly
  • Replacement of Barclays chairman, Scottish independence debate and new Santander chief Sep 15, 2014 - 3:39 pm
  • Patrick Jenkins is joined by Martin Arnold, banking editor and Sam Fleming, financial policy correspondent, as well as Tobias Buck, Madrid bureau chief and Simon Hayes, partner at Odgers Berntson, to discuss the appointment of John McFarlane as Barclays chairman, the Scottish independence debate and the change of leadership at Spanish bank Santander.
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  • ECB initiatives to boost bank lending, Brussels disquiet over bankers' allowances and nervousness ahead of the Scottish referendum Sep 08, 2014 - 4:00 pm
  • Patrick Jenkins is joined by Richard Hopkin from the Association for Financial Markets in Europe and Sam Fleming to discuss the latest European Central Bank policy initiatives to boost bank lending. Daniel Schäfer looks at unease in Brussels over the way investment banks seem to be getting around bonus restrictions and Sam Fleming looks at growing nervousness ahead of the Scottish independence referendum.
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  • Lloyds' Libor fine, Deutsche's letter from the Fed and the rise of independent boutiques Jul 28, 2014 - 4:40 pm
  • 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 continued rise of boutiques, as former UBS chair Luqman Arnold joins former Glencore chair Simon Murray and three other senior partners so establish a new advisory business.
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  • Can G20 leaders tackle the problem of too-big-to-fail banks? Jul 21, 2014 - 5:30 pm
  • 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 brings the total to more than 15 authorities looking into the manipulation of rates, with the news that it may launch a criminal investigation.
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  • Competition in British retail banks, developments in the Forex scandal and the troubles of Banco Espirito Santo Jul 14, 2014 - 2:30 pm
  • 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 Santo are mounting and causing ructions around the peripheral eurozone.
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  • European banks' 'investability', UK banks' scare tactics and banking in Iraq Jul 07, 2014 - 5:00 pm
  • 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.
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  • BNP fined, BIS on central banks, and Wonga's imaginary law firms Jun 30, 2014 - 6:25 pm
  • 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.
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  • TSB floats, further forex reforms and tumult at Banco Espírito Santo Jun 23, 2014 - 3:40 pm
  • 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 Schäfer, investment banking correspondent; and Peter Wise, Portugal correspondent, join Patrick Jenkins on the show.
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  • Shadow banking, payday lenders, and the return of the CDS Jun 16, 2014 - 6:30 pm
  • 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 the market
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  • BoE risk report, TSB IPO hit by subdued market, and more on the embattled BNP Paribas Jun 09, 2014 - 5:55 pm
  • 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 Hollande's appeals to Barack Obama fell on deaf ears, meaning the bank remains on course for a record fine
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  • ECB monetary loosening, growing competition for UK deposits, and outrage in France over BNP Paribas fine Jun 02, 2014 - 5:20 pm
  • 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.
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  • Qatari money for Deutsche rights issue, Credit Suisse close to tax avoidance plea and new standards council for UK banks May 19, 2014 - 4:35 pm
  • 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 weighed in, calling for the resignation of CEO Brady Dougan and Chairman Urs Rohner. Finally, Sharlene Goff, retail banking correspondent, reports on Sir Richard Lambert's recommendation of a new standards council to monitor UK banks' behaviour, including their relationships with SMEs and handling of whistleblowers
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  • Barclays investigated over Qatari cash call, StanChart protest vote and Basel Committee on interest rate risks May 12, 2014 - 7:30 pm
  • 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 for a new fight over capital requirements as the Basel Committee moves to tighten regulations on risks linked to interest rate shocks
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  • The vexed topic of pay, Deutsche Bank’s capital shortfall and more bad news for the Co-op Apr 28, 2014
  • 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 report into what happened at the Co-operative Bank in the years leading up to the exposure of a huge £1.5bn capital hole in the bank’s balance sheet.
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  • The vexed topic of pay, Deutsche Bank’s capital shortfall and more bad news for the Co-op Apr 28, 2014
  • 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 report into what happened at the Co-operative Bank in the years leading up to the exposure of a huge £1.5bn capital hole in the bank’s balance sheet.
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  • Facebook looks at financial services, bankers dodge bonus cap and Co-op Bank faces new crises Apr 14, 2014
  • 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
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  • BlackRock plan for Larry Fink's departure, asset managers under scrutiny and Q1 results for the big banks Apr 07, 2014 - 4:15 pm
  • 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 big US and European banks, with JPMorgan among several big names expected to see falls in fixed income trading revenues
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  • US stress test results are in, FCA steps up scrutiny in new business plan, and major staff changes at UK state-owned banks Mar 31, 2014 - 6:25 pm
  • 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. Simon Gleeson, a partner at Clifford Chance, joins on the line to add his thoughts on an increasingly hands-on FCA. Finally, Sam and Martin weigh in on personnel movements at UK state-owned banks, with Lloyds chairman Sir Win Bischoff stepping down and Ewen Stevenson taking over as finance chief at RBS
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  • US stress test results are in, FCA steps up scrutiny in new business plan, and major staff changes at UK state-owned banks Mar 31, 2014 - 6:25 pm
  • 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. Simon Gleeson, a partner at Clifford Chance, joins on the line to add his thoughts on an increasingly hands-on FCA. Finally, Sam and Martin weigh in on personnel movements at UK state-owned banks, with Lloyds chairman Sir Win Bischoff stepping down and Ewen Stevenson taking over as finance chief at RBS
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  • Return of the covenant light loan, BNP Paribas boss interviewed, Russian ramifications and more Co-op chaos Mar 24, 2014 - 6:10 pm
  • 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 requirements and a shit to electronic exchanges. Daniel Schäfer has the latest on rumblings in Russia, where Austrian banks find themselves particularly exposed, and Sharlene Goff has news of the Co-op Bank, which needs to raise another £400m just three months after its rescue
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  • Russian repatriation, banks hold back forex bonuses, and UniCredit puts Pioneer Investments back on sale Mar 17, 2014 - 6:00 pm
  • 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 UniCredit’s aim to sell or float its Pioneer Investments arm as conditions in the Italian economy make a sale more likely
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  • Forex fines, exec pay at the Co-op Bank, and pressure easing on Greece Mar 10, 2014 - 5:15 pm
  • 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 per cent and domestic banks’ share offerings are being well received
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  • Rouble rocked, restructuring at RBS, and bonus deferrals Mar 03, 2014 - 6:07 pm
  • 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 evidence mounts that Parliamentary recommendations on bonus deferral terms are not being met. Patrick Jenkins is joined by Martin Arnold, banking editor, Sam Fleming and Daniel Schäfer
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