Bankers Fired by RBS
It has been recently revealed that the Royal Bank of Scotland has fired four employees because of their connection with the interest rate manipulation case. The Royal Bank of Scotland group is actually the largest government based lender and this recent probe has definitely proved to be disgrace for the bank.
Greece in a Bankrupt Position
It has been recently revealed that Euro zone countries are not able to reach at a final conclusion on Greece bailout matter. In order to discuss the matter, a meeting has been arranged in which Euro zone finance ministers would take part, said Evangelos Venizelos, who is the Greek Finance Minister.
Bank of America Faces Law Suit
As per recent reports, it has revealed that a case has been registered against Bank of America, Wells Fargo and JPMorgan Chase over the access to a mortgage database. Confirming the news, New York Attorney General Eric Schneiderman said that they have filed a case against them as they led the state in a condition, in which, they were not able to assess foreclosures.
Bank of England Warns Its Lenders
“Given the importance the committee attaches to this issue, it agreed to consider it in greater depth at a future meeting. It would consider, among other things, the extent to which such performance metrics influence”, said the Bank of England, while warning its lenders against a move to introduce some changes in the procedure for bonus measures.
HSBC Faces Rising Bad Loans
It seems that the widening uncertainty in global markets has struck the investment banking sector big time, as it has been revealed that HSBC Holdings PLC has met with huge revenue loss in the third quarter. In addition, there was major loss in the US market also as bad loans soared. It was told that the bad loans moved up by 24% to $3.89 billion.