All the updated news related to prudential regulation authority

All the news related to prudential regulation authority updated in real time

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City

Metro Bank losses hit £245m as lender reels from fines and sanctions

Metro Bank suffered a heavy loss last year as the high street lender put aside cash to cover fines imposed on it by UK regulators and over historical global sanctions. The bank said pre-tax losses for 2021 hit £245.1 million, which was an ...

23 Feb 2022 at 11:55

City

Metro Bank losses hit £245m as lender reels from regulator fines

Metro Bank suffered a heavy loss last year as the high street lender put aside cash to cover fines imposed on it by UK regulators. The bank said pre-tax losses for 2021 hit £245.1 million, which was an improvement on the £311.4 million ...

23 Feb 2022 at 09:25

City

Lenders have ‘obligation’ to support struggling borrowers, Bank governor says

Mortgage debt and home repossessions are much lower than during previous financial crises, the Bank of England’s governor said as he emphasised lenders’ “obligation” to support borrowers. In a meeting about the UK’s financial ...

16 Jan 2023 at 17:50

City

Silicon Valley Bank UK sold to HSBC

The UK arm of collapsed US lender Silicon Valley Bank has been bought by HSBC after the Government and Bank of England stepped in to “facilitate” a private sale. Chancellor Jeremy Hunt confirmed that all customer deposits ...

13 Mar 2023 at 09:08

City

Why did Silicon Valley Bank collapse and are other lenders at risk?

The collapse of the 16th largest bank in the US sent ripples through global markets on Monday as Governments and businesses scrambled to figure out what the impact would be and how it could be contained. Silicon Valley ...

13 Mar 2023 at 13:00

City

HSBC buys Silicon Valley Bank UK in rescue deal to avoid tech sector chaos

HSBC has bought the UK arm of collapsed US lender Silicon Valley Bank in a last-minute rescue deal to avert a crisis in Britain’s technology sector. The sale – for a nominal sum of £1 – was agreed after all-night ...

13 Mar 2023 at 14:00

City

Credit Suisse handed biggest fine in Prudential Regulation Authority’s history

The Bank of England’s regulatory arm has handed out the biggest fine in its history to Credit Suisse for its ties to a collapsed fund whose founder has been accused of fraud and racketeering in the US. The ...

24 Jul 2023 at 17:23

City

Gupta-linked bank Wyelands escapes £8.5m fine for series of failures

The Bank of England has said it would have fined Sanjeev Gupta-connected bank Wyelands more than £8.5 million for a plethora of failures at the winding-down lender. Wyelands was far too exposed to just ...

04 Apr 2023 at 14:12

City

Bank of England fines former TSB executive over 2018 IT meltdown

TSB Bank’s former chief information officer has been fined after its botched IT upgrade in 2018. The Bank of England has handed an £81,620 fine to Carlos Abarca after the failed IT migration left many ...

13 Apr 2023 at 12:14

Personal Finance

Compensation protection limits to be reviewed by FCA

A review of compensation limits provided through a savings safety net is to be carried out by the Financial Conduct Authority (FCA). The Financial Services Compensation Scheme (FSCS) pays ...

14 Dec 2022 at 01:01

City

Coventry Building Society’s £780m Co-op Bank takeover to go through in January

Coventry Building Society’s £780 million deal to take over the Co-operative Bank will go through in the new year after regulators gave it the green light. The Co-op Bank will officially ...

28 Nov 2024 at 10:23

City

Regulators fine Citigroup after £1.1bn of equities sold in ‘fat-finger’ error

Regulators have fined Citigroup £61.6 million for a trading controls failure that led to 1.4 billion dollars (£1.1 billion) of equities being sold mistakenly. The Financial Conduct ...

22 May 2024 at 10:57

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