http://www.finreg21.com/all-regulatory-news Provides a view of the latest agency breaking news en http://www.finreg21.com/news/banks-seek-scoop-up-underbanked By Eifling, Sam <P> 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). It's not that they don't see the need for an account (fourth) or that they encounter language barriers at banks (sixth). <P> 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.<p><a href="http://www.finreg21.com/news/banks-seek-scoop-up-underbanked">read more</a></p> http://www.finreg21.com/news/banks-seek-scoop-up-underbanked#comments Regulations Mon, 01 Feb 2010 01:49:00 +0000 manager 32989 at http://www.finreg21.com http://www.finreg21.com/news/banks-seek-scoop-up-underbanked-0 By Eifling, Sam <P> 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). It's not that they don't see the need for an account (fourth) or that they encounter language barriers at banks (sixth). <P> 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.<p><a href="http://www.finreg21.com/news/banks-seek-scoop-up-underbanked-0">read more</a></p> http://www.finreg21.com/news/banks-seek-scoop-up-underbanked-0#comments Financial Risk Management Mon, 01 Feb 2010 01:49:00 +0000 manager 32993 at http://www.finreg21.com http://www.finreg21.com/news/fatcats-rule-yourview SOMETIMES you wonder what planet the men who run our major banks live on. <P> 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. <P> Some bank employees are even having to take out unwanted loans and credit cards to meet their targets. <P> Bank chief executives are clearly desperate to keep hiking up profits whatever the consequences.<p><a href="http://www.finreg21.com/news/fatcats-rule-yourview">read more</a></p> http://www.finreg21.com/news/fatcats-rule-yourview#comments Financial Services Regulation Mon, 01 Feb 2010 01:39:00 +0000 manager 32986 at http://www.finreg21.com http://www.finreg21.com/news/borrowers-review-loans-mortgage-market-shake THE mortgage market is going through a major shake-up at present which should encourage borrowers to review their existing loans. <P> And people looking to buy for the first time may find additional and more competitive mortgage products are now on the market. <P> While this may sound like good news, there is also bad news. One of the UK's largest mortgage lenders, the Skipton Building Society, has just raised its standard variable rate substantially -- from 3.5% to 4.95%. This increases repayments on an interest only mortgage by about 40%.<p><a href="http://www.finreg21.com/news/borrowers-review-loans-mortgage-market-shake">read more</a></p> http://www.finreg21.com/news/borrowers-review-loans-mortgage-market-shake#comments Regulations Mon, 01 Feb 2010 01:19:00 +0000 manager 32987 at http://www.finreg21.com http://www.finreg21.com/news/fears-rising-patchwork-approach-bank-reform ANALYSIS: President Obama's go-it-alone approach upset the choreography of global co-operation, writes SIMON CARSWELL in Davos, Switzerland <P> 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. <P> The economic summit concluded with much the same message as last year - governments need to co-operate. <P> What's different this year is that Davos, with all its aspirations for global agreement, was faced with governments wanting to go it alone.<p><a href="http://www.finreg21.com/news/fears-rising-patchwork-approach-bank-reform">read more</a></p> http://www.finreg21.com/news/fears-rising-patchwork-approach-bank-reform#comments Financial Services Regulation Mon, 01 Feb 2010 01:19:00 +0000 manager 32984 at http://www.finreg21.com http://www.finreg21.com/news/fears-rising-patchwork-approach-bank-reform-0 ANALYSIS: President Obama's go-it-alone approach upset the choreography of global co-operation, writes SIMON CARSWELL in Davos, Switzerland <P> 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. <P> The economic summit concluded with much the same message as last year - governments need to co-operate. <P> What's different this year is that Davos, with all its aspirations for global agreement, was faced with governments wanting to go it alone.<p><a href="http://www.finreg21.com/news/fears-rising-patchwork-approach-bank-reform-0">read more</a></p> http://www.finreg21.com/news/fears-rising-patchwork-approach-bank-reform-0#comments Financial Risk Management Mon, 01 Feb 2010 01:19:00 +0000 manager 32991 at http://www.finreg21.com http://www.finreg21.com/news/bank-unlikely-boost-economy By KELLY MACNAMARA <P> THE Bank of England is expected to keep its efforts to boost the money supply on hold this week despite recent feeble economic growth. <P> 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. <P> 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.<p><a href="http://www.finreg21.com/news/bank-unlikely-boost-economy">read more</a></p> http://www.finreg21.com/news/bank-unlikely-boost-economy#comments Regulations Mon, 01 Feb 2010 01:19:00 +0000 manager 32988 at http://www.finreg21.com http://www.finreg21.com/news/big-storm-may-be-brewing-over-residential-property-debt 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 <P> CONSIDER THE following bits of information which are by and large undisputed and point to something unpleasant coming down the tracks: <P> 1. Mortgage interest rates are going up. The Permanent TSB was the first bank to break ranks and confirm an increase in its variable rate on Friday. The EBS cannot be far behind.<p><a href="http://www.finreg21.com/news/big-storm-may-be-brewing-over-residential-property-debt">read more</a></p> http://www.finreg21.com/news/big-storm-may-be-brewing-over-residential-property-debt#comments Financial Services Regulation Mon, 01 Feb 2010 01:19:00 +0000 manager 32985 at http://www.finreg21.com http://www.finreg21.com/news/big-storm-may-be-brewing-over-residential-property-debt-0 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 <P> CONSIDER THE following bits of information which are by and large undisputed and point to something unpleasant coming down the tracks: <P> 1. Mortgage interest rates are going up. The Permanent TSB was the first bank to break ranks and confirm an increase in its variable rate on Friday. The EBS cannot be far behind.<p><a href="http://www.finreg21.com/news/big-storm-may-be-brewing-over-residential-property-debt-0">read more</a></p> http://www.finreg21.com/news/big-storm-may-be-brewing-over-residential-property-debt-0#comments Financial Risk Management Mon, 01 Feb 2010 01:19:00 +0000 manager 32992 at http://www.finreg21.com http://www.finreg21.com/news/no-uptick-interest-rates-seen-first-quarter By Lailany P. Gomez, The Manila Times, Philippines <P> Feb. 1--FOREIGN banks expect Philippine interest rates to rise only later this year amid growing credit demand. <P> 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. <P> 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.<p><a href="http://www.finreg21.com/news/no-uptick-interest-rates-seen-first-quarter">read more</a></p> http://www.finreg21.com/news/no-uptick-interest-rates-seen-first-quarter#comments Regulations Mon, 01 Feb 2010 01:10:00 +0000 manager 32990 at http://www.finreg21.com