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Stock Market & Financial Investment News

News Breaks
February 12, 2014
11:49 EDTRBSMoody's reviewing Royal Bank of Scotland's ratings for downgrade
Moody's Investors Service has placed on review for downgrade Royal Bank of Scotland plc's A3 supported long-term debt and deposit ratings, the ratings for the bank's subordinated debt, junior subordinated debt and capital instruments. The long-term ratings of the holding the company, Royal Bank of Scotland Group plc, were also placed on review for downgrade. The firm's Prime-2 short-term ratings were affirmed. Moody's rating action follows the publication of a recent trading update, in which RBS's management indicated that the group's year-end 2013 results would be materially impacted by additional provisions for pending litigations and conduct-related costs. As a result, the bank will report a weaker than previously anticipated regulatory capital position at end-December 2013, weakening its standalone credit profile. During the review, Moody's will assess whether the bank's credit fundamentals remain compatible with the current ratings given (1) the challenges and risks RBS faces in relation to the execution of its recovery plan; and (2) any actions that RBS's management could pursue in the short-term that could effectively mitigate these risks and further boost the bank's regulatory capital position. Moody's has placed on review for downgrade all long-term ratings of National Westminster Bank plc and Royal Bank of Scotland NV.
News For RBS From The Last 14 Days
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October 31, 2014
06:47 EDTRBSRBS took GBP 400M charge for foreign exchange investigations
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06:44 EDTRBSLarge banks prepare for forex investigation payments, WSJ says
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05:59 EDTRBSRoyal Bank of Scotland confirms it will retain Ulster Bank
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05:59 EDTRBSRoyal Bank of Scotland CEO says 'long list of conduct and litigation issues'
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05:58 EDTRBSRoyal Bank of Scotland says cost reductions remain on track
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05:56 EDTRBSRoyal Bank of Scotland reports Q3 profit GBP 896M vs. GBP (828M) last year
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October 29, 2014
06:39 EDTRBSECB says loan demand expected to rise, Reuters reports
Demand for loans from euro zone banks is expected to rise sharply this quarter, the European Central Bank stated in a report, according to Reuters. Meanwhile, the bloc's banks are expected to ease credit standards in Q4, after credit standards in France and Germany eased in Q3, the news service quoted the ECB as saying. Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
October 27, 2014
13:13 EDTRBSU.K. banks to raise PPI compensation provisions, Sky News reports
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06:07 EDTRBSRBS expected to announce commitment to Ulster Bank, Telegraph reports
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October 26, 2014
17:32 EDTRBSEuropean banks may gain after ECB stress tests, Bloomberg says
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13:27 EDTRBSECB releases results of bank stress test
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October 24, 2014
08:44 EDTRBSECB draft shows 25 EU banks set to fail stress test, Bloomberg says
Bloomberg cites a draft ECB document the news service has viewed. Publicly traded EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS).
October 21, 2014
08:28 EDTRBSEuropean Commission fines JMorgan EUR 61.68M over Libor influencing
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08:18 EDTRBSBasel Committee accelerating work on leverage ratio, FT says
The Basel Committee on Banking Supervision will begin work on the calibration of the leverage ratio, a measure of bank capital seen as less vulnerable to manipulation, sooner than previously planned, which suggests the finished rule could be released as soon as 2015 or 2016, which is ahead of the previous target date of 2017, reported Financial Times, citing comments from the secretary-general of the committee, William Coen. Publicly traded large U.S. banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded large EU banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
08:12 EDTRBSJPMorgan, UBS, Credit Suisse to be fined by EU over Libor rigging, Reuters says
JPMorgan (JPM), UBS (UBS) and Credit Suisse (CS) will be fined $115M collectively for their roles in rigging Swiss franc Libor rates, with JPMorgan's fine of $89M making up the lion's share of the penalty, said Reuters, citing a person familiar, who added that Royal Bank of Scotland (RBS) would not be penalized for its own role since it alerted the European Commission to the issue. Reference Link

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