Original post on mastodon.green

#UKbanks
#banking
#business
I'm no fan of big banks but this seems like a good idea. Shows how quickly the 'special' relationship has changed.

UK bank bosses plan to set up Visa and Mastercard alternative amid Trump fears
UK bank bosses plan to set up Visa and Mastercard alternative amid Trump […]

UK should tax banks on reserves held at BoE, think tank says LONDON (Reuters) -Britain’s government should tax banks on the billions of pounds they receive in interest from the Bank of England on the reserves they hold at the central bank, a think tank recommended on Friday. Around 22 billion pounds ($29.7 billion) a year, which goes to the banks as a result of the BoE’s bond-buying programme, represents a subsidy to the lenders at the expense of public services, the Institute for Public Policy Research said. Echoing calls made by other commentators in recent years, the IPPR said a new tax on the interest the banks receive would give finance minister Rachel Reeves more room to meet her fiscal rules. Reeves is widely expected to increase taxes again in her autumn budget - after raising them on employers in her first budget last year - as she is believed to be off course to hit the fiscal rules. "What started as a programme to boost the economy is now a massive drain on taxpayer money," Carsten Jung, associate director for economic policy at IPPR, said. "Public money is flowing straight into commercial banks’ coffers because of a flawed policy design." British banks hold hundreds of billions of pounds of reserves at the BoE, largely as a result of the central bank’s quantitative easing - or bond-buying - that was launched during the 2008-09 global financial crisis. Banks are paid interest on the reserves at whatever is the BoE’s current interest rate which is higher now than during much of the QE programme. Losses to the central bank are covered by the Treasury and ultimately tax-payers. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. BoE Governor Andrew Bailey has said the current system is essential to transmit changes in the BoE’s official interest rate through to the wider economy. In June, Bailey again defended the central bank’s programme of government bond purchases and sales after it came under fire from some politicians - including from within Brexit campaigner Nigel Farage’s Reform UK party - for its cost. In May, Bailey and Reeves raised the prospect of the BoE making money from its new system for providing reserves to banks after racking up huge losses from its bond-buying programme. ($1 = 0.7402 pounds) The best opportunities often hide in plain sight—buried among thousands of stocks you'd never have time to research individually. That's why smart investors use our Stock Screener with 50+ predefined screens and 160+ customizable filters to surface hidden gems instantly. For example, the Piotroski's Picks method averages 23% annual returns by focusing on financial strength, and you can get it as a standalone screen. Momentum Masters catches stocks gaining serious traction, while Blue-Chip Bargains finds undervalued giants. With screens for dividends, growth, value, and more, you'll discover opportunities others miss. Our current favorite screen is Under $10/share, which is great for discovering stocks trading under $10 with recent price momentum showing some very impressive returns!

Click Subscribe. #UKBanks #BankTax #BoE #EconomicPolicy #FinancialRegulation

Cyber-Proof Your Savings: The Two-Tier Plan Using Canadian Banks & U.S. FDIC to Shield Your Money from Hacks Balancing maximum deposit security with guaranteed reimbursement in the event of a bank‑level hack

Geoffrey Hinton, Godfather of AI, thinks you should protect your accounts and retirement from AI-juiced hackathons, and I do to.

Find out how, here:

open.substack.com/pub/hollypet...

#PersonalFinance #cybersecurity #USbanks #CanadianBanks #RetirementSavings #UKbanks #EUbanks #AI #banking

If there's ever been a reason to keep ALL your money under the mattress, trying to deal with #UKBanks is it!
🤬🤬🤬

U.K. banks may benefit from MREL threshold increase Investing.com -- U.K. banks could see significant profit boosts if the Bank of England raises the Minimum Requirements for Own Funds and Eligible Liabilities (MREL) thresholds in the coming days, according to RBC on Tuesday. The potential announcement might come either in the Bank of England’s Financial Stability Report on July 9th or during the Chancellor’s Mansion House speech on July 15th, when she plans to unveil her Financial Services Growth and Competitiveness Strategy. MREL requires banks with assets above certain thresholds to maintain minimum levels of equity and eligible subordinated debt that could be used for bail-in should the institution fail. The current threshold stands at £15-25 billion in assets. In the fourth quarter of 2024, the Bank of England launched a consultation proposing to increase this threshold to £20-30 billion to reflect nominal GDP growth since the last review. However, banking executives have described this proposed increase as disproportionately small. If the threshold were to be raised further to £30-40 billion, Metro Bank (LON:MTRO) could see profit before tax benefits equivalent to approximately 20% of its fiscal year 2027 adjusted profit before tax. OSB Group could experience an 11% boost. RBC has removed its Speculative Risk rating for Metro Bank, reduced its cost of equity by 2 percentage points, and increased its price target to 150p. For Paragon Banking Group PLC (LON:PAGPA), which currently has £19 billion in assets and sits within the current MREL range but doesn’t have to comply, a meaningful increase in the threshold would provide additional growth flexibility, both organic and inorganic. Close Brothers (F:CBRO) Group, with £14 billion in assets, is currently too small to be captured by MREL requirements. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if CBRO is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

Click Subscribe #UKBanks #MREL #FinanceNews #Banking #Investment

#UkBanks...... what about giving away some kind of screening card that can be put on your wallet / purse to stop thieves scanning your details and stealing money. Could save you slot of money

Deutsche Bank raises target prices, upgrades Paragon in U.K. banks sector review Investing.com -- Deutsche Bank has raised its target prices on several major U.K. banks, citing stronger-than-expected revenue and earnings growth across the sector. The bank also upgraded Paragon Banking Group Plc to a “buy” from “hold” and highlighted OneSavings Bank as a potential acquisition target. In a recent note, Deutsche Bank analysts said U.K. banks are forecast to post the highest revenue growth in Europe over the next three years. In some instances, earnings per share growth is expected to be twice as high as that of the next-best performing European lender. Despite the strong growth outlook, U.K. banks continue to trade at a discount compared to European peers, according to the brokerage. The brokerage said the three-year outlook is “very favourable” and added that acquisitions in the sector are both likely and could add value. The analyst lifted its price target on Barclays to 380p from 370p and maintained a “buy” rating. Lloyds Banking Group (LON:LLOY) also retained its “buy” rating, with the price target increased to 90p from 88p. Standard Chartered was kept at “hold,” but the target was raised to 1,200p from 970p. Paragon Banking Group Plc was upgraded to “buy” with a new target of 1,050p, up from 890p. Deutsche Bank said the lender is no longer trading at a premium, despite what it described as strong underlying performance. “Our preference is for the superior and more predictable capital generation of Lloyds and Natwest,” the brokerage said. “At the smaller end we see OneSavings Bank as an attractive acquisition target,” they added.

Click Subscribe #DeutscheBank #UKBanks #ParagonBanking #Investing #StockMarket

JPM remains positive on U.K. domestic banks Investing.com -- JPMorgan analysts reiterated their positive stance on U.K. domestic banks, citing resilient returns, solid balance sheet momentum, and strong cash generation at appealing valuations. “Following recent meetings with senior bank managements, we remain constructive on the returns trajectory of UK domestic banks,” the firm wrote. Despite a challenging macroeconomic backdrop, analysts noted that management teams are continuing to execute effectively. “Operationally, management teams are executing towards targets… and we see the regulatory environment slightly easing across multiple angles in line with the government’s growth agenda,” JPMorgan said, adding that this could “support a lower sector COE towards c10% over time.” While cautious on certain near-term pressures, JPMorgan highlighted a number of ongoing dynamics. “Mortgage spreads remain under pressure… with some market participants earning below the cost of capital,” and margins may stay compressed despite potential ring-fencing changes. Meanwhile, “deposit competition has increased, particularly around the recent ISA season,” though no structural behavioural changes are evident. Trade tensions have had limited direct impact, according to JPMorgan. “Limited impacts to UK Corporates around recent trade escalations, so far,” they stated. They also said Standard Chartered has seen “a benefit to Trade Finance lending.” Looking forward, analysts see opportunities in expanding wealth and corporate client penetration, and pointed to M&A re-emerging, “particularly for NatWest/HSBC,” though activity remains highly selective. JPMorgan reiterated its preference for domestic over Asia-exposed U.K. banks, “given the risks on US tariffs and trade/capital flows.” Among its top picks: “We maintain our preference for Barclays/Natwest (both OWs and European Top picks) over Lloyds (LON:LLOY) (UW), given their more attractive valuations with less litigation risk.”

Click Subscribe #JPMorgan #UKBanks #FinanceNews #Investing #StockMarket

UK banks put £75bn into firms building climate-wrecking ‘carbon bombs’, study finds Exclusive: Britain is key financial hub for destructive fossil fuel mega-projects, according to research

UK banks put £75bn into firms building climate-wrecking ‘carbon bombs’, study finds www.theguardian.com/environment/... #UK #UKBanks #banks #CarbonBombs #ClimateChange #ClimateCrisis

UK Banks Robbing The UK.

#Wales #Scotland #NorthernIreland #Ireland #England #Cornwall #UK

#UKbanks

@owenjones.bsky.social
How The Banks Commit Property Fraud On Industrial Scale By Selling Your House From Under Your Feet

#UKBanks are using the police courts auction houses and 3rd party contractors to evict home owners and distroy their lives without legal justification
youtu.be/ZDiDRFM56UU?...

@neanarchogroup.bsky.social

#CLASSWAR | How The Banks Commit Property Fraud On Industrial Scale By Selling Your House From Under Your Feet

#UKBanks are using the #UKpolice #UKcourts #UKauctionHouses and 3rd party contractors to evict home owners and distroy their lives.
youtu.be/ZDiDRFM56UU?...

@novaramedia.com
#CLASSWAR | How The Banks Commit Property Fraud On Industrial Scale By Selling Your House From Under Your Feet

#UKBanks are using the #UKpolice #UKcourts #UKauctionHouses and 3rd party contractors to evict home owners and distroy their lives.
youtu.be/ZDiDRFM56UU?...

@thecanaryuk.bsky.social
#CLASSWAR | How The Banks Commit Property Fraud On Industrial Scale By Selling Your House From Under Your Feet

#UKBanks are using the #UKpolice #UKcourts #UKauctionHouses and 3rd party contractors to evict home owners and distroy their lives.
youtu.be/ZDiDRFM56UU?...

@declassifieduk.org
#CLASSWAR | How The Banks Commit Property Fraud On Industrial Scale By Selling Your House From Under Your Feet

#UKBanks are using the #UKpolice #UKcourts #UKauctionHouses and 3rd party contractors to evict home owners and distroy their lives.
youtu.be/ZDiDRFM56UU?...

#CLASSWAR | How The Banks Commit Property Fraud On Industrial Scale By Selling Your House From Under Your Feet

#UKBanks are using the #UKpolice #UKcourts #UKauctionHouses and 3rd party contractors to evict home owners and distroy their lives.
#press #news #BreakingNews
youtu.be/ZDiDRFM56UU?...

Funny, when banks have a power outage, it’s the credits that fail and the standing orders and direct debits still go through!?! #Barclays #UKBanks
Can’t the IT bods, realising the outage, stop the debits going through until the credits can be processed? 🤷🏻‍♀️