All Financial Services Regulatory News

THE TOP REASON that people who have never used a bank cite for not having a savings or checking account isn't that they don't trust banks (that's seventh).

Instead, half of the unbanked and underbanked households surveyed by the Federal Deposit Insurance Corp. last year cited a simple lack of money or high minimum balances as their top reason for not using banks for their financial services.

Financial institutions in Arkansas--which has a high rate of unbanked and underbanked residents--fairly scoff at that idea.

THE TOP REASON that people who have never used a bank cite for not having a savings or checking account isn't that they don't trust banks (that's seventh).

Instead, half of the unbanked and underbanked households surveyed by the Federal Deposit Insurance Corp. last year cited a simple lack of money or high minimum balances as their top reason for not using banks for their financial services.

Financial institutions in Arkansas--which has a high rate of unbanked and underbanked residents--fairly scoff at that idea.

SOMETIMES you wonder what planet the men who run our major banks live on.

Despite the banks almost bringing the country to its knees by reckless lending, union leaders have informed Holyrood's Economy Committee that bank staff are still being pressed to achieve unrealistic sales targets or face dismissal.

Some bank employees are even having to take out unwanted loans and credit cards to meet their targets.

ANALYSIS: President Obama's go-it-alone approach upset the choreography of global co-operation, writes SIMON CARSWELL in Davos, Switzerland

DAVOS 2010 wrapped up yesterday after five days of yet more soul- searching on how to regulate banking and stop the global financial world creating another crisis.

What's different this year is that Davos, with all its aspirations for global agreement, was faced with governments wanting to go it alone.

ANALYSIS: President Obama's go-it-alone approach upset the choreography of global co-operation, writes SIMON CARSWELL in Davos, Switzerland

DAVOS 2010 wrapped up yesterday after five days of yet more soul- searching on how to regulate banking and stop the global financial world creating another crisis.

What's different this year is that Davos, with all its aspirations for global agreement, was faced with governments wanting to go it alone.

THE Bank of England is expected to keep its efforts to boost the money supply on hold this week despite recent feeble economic growth.

Policymakers are expected to freeze quantitative easing at Pounds 200bn, while interest rates will also be kept at their record low of 0.5% in their latest decision, due on Thursday.

But the members of the Bank's Monetary Policy Committee (MPC) are likely to be under intense pressure in the wake of recent unwelcome data.

BUSINESS OPINION: Saving the banks from the consequences of their greed over consumer credit and residential mortgages could well be this autumn's crisis, JOHN McMANUS

Even those borrowers on tracker rates will be lucky to get to the end of the year without facing an increase in rates as the ECB is expected to move in the second half of the year.

Irish households are among the world's most indebted after a decade-long credit spree.

BUSINESS OPINION: Saving the banks from the consequences of their greed over consumer credit and residential mortgages could well be this autumn's crisis, JOHN McMANUS

Even those borrowers on tracker rates will be lucky to get to the end of the year without facing an increase in rates as the ECB is expected to move in the second half of the year.

Irish households are among the world's most indebted after a decade-long credit spree.

THE mortgage market is going through a major shake-up at present which should encourage borrowers to review their existing loans.

And people looking to buy for the first time may find additional and more competitive mortgage products are now on the market.

Nationwide, the largest building society, is in a much stronger position, but it is also raising the SVR on some products that are higher risk for the society -- including some mortgages where income was self-certified.

Feb. 1--FOREIGN banks expect Philippine interest rates to rise only later this year amid growing credit demand.

Union Bank of Switzerland (UBS) forecasts domestic Philippine bond yields will edge higher, as local liquidity conditions tighten amid a pick up in credit demand and bond issuances.

Edward Teather, UBS economist, however said that a sizable current account surplus should ensure interest rates do not rise too far even with heightened election risk.