Yesterday's announcement of an increase in the US Federal Reserve's emergency rate to 0.75% has prompted a number of discussions within the US and worldwide financial sector. The emergency rate is simply the rate that US banks are charged to borrow money off the Federal Reserve, and while it has no immediate impact upon the Fed Funds Rate (which is effectively the US version of UK base rates), it has prompted speculation that US base rates could rise in the short term.
The revelation that 2009 saw the first drop ever in banking to business lending has created something of a quandary for the UK government and in particular the Treasury. It is well-known that the Royal Bank of Scotland and Lloyds Bank were issued with legally binding lending targets as part of the taxpayer funded bailout which occurred last year. However, these targets will be missed even though there is some time to go before the March deadline date. So what next?
The recent revelation that around 60% of UK bank loan applications are currently being rejected is a reflection of the difficult economic environment and a tightening of loan criteria by the...
The recent revelation that around 60% of UK bank loan applications are currently being rejected is a reflection of the difficult economic environment and a tightening of loan criteria by the...
The Greek government is tonight reeling from yet another credit rating downgrade with Standard and Poors revealing a reduction in the country's rating from A- to BBB+. While the move was expected...
The Greek government is tonight reeling from yet another credit rating downgrade with Standard and Poors revealing a reduction in the country's rating from A- to BBB+. While the move was expected...
Lloyds bank has today confirmed it will miss an £11 billion business lending target set by the UK government earlier this year. The legally binding agreement was part of the government's bailout...
Lloyds bank has today confirmed it will miss an £11 billion business lending target set by the UK government earlier this year. The legally binding agreement was part of the government's bailout...
The powerful Treasury select committee has today issued a report with a number of major changes recommended in the personal finance market. One suggestion is that consumers should have free access...
The powerful Treasury select committee has today issued a report with a number of major changes recommended in the personal finance market. One suggestion is that consumers should have free access...