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written by Angela Knight on 30/03/2009
In the last six months there has been an increasing number of comments about why banks should be split up. Some say that banks are too large; others say that much of the activity of banks is “utility†services, therefore what is needed are utility banks separate from investment banks – some form of a new Glass-Steagall Act.
written by Brian Mairs on 27/03/2009
Now this is public service broadcasting. Yesterday morning, at an hour so early it only appears on broadcasters’ clocks, an exceptional gathering of international business leaders, thinkers and finance experts met at Canary Wharf for more than two hours of discussion on next week’s G20 summit.
written by Angela Knight on 26/03/2009
Although much attention is still being paid to RBS, and what ministers did or did not know of pension payments, I sense that there is now a broader appraisal. MoneyFacts, for example, has shown that banks offer better rates than building societies on mortgages and savings accounts. BERR has found that a lot of problems with the Enterprise Finance Guarantee Scheme have been due to the scheme not being properly understood (due to communications glitches) and that “the taxpayer cannot take the risk that the business person or entrepreneur does not want to take himselfâ€.
written by Brian Mairs on 24/03/2009
We were pleased that our monthly statistics (issued this morning) got balanced coverage today. Yes, the statistics showed the third successive monthly rise in mortgage approvals, but that did not necessarily indicate firm recovery across the whole mortgage market. Our statistics cover the UK’s main high street banks, who traditionally offer around two-thirds of the UK’s mortgages. Other lenders - building societies, non-UK banks, specialist and sub-prime lenders - are now offering far fewer mortgages so the high street banks are taking up the slack.
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