Banking Archives

Research reveals Universal Credit payment and budgeting advice gap

International Finance DeskOctober 16, 2013

by International Finance DeskOctober 16, 2013

Payments Council has created a new free guide to help people receiving Universal Credit manage their money and understand payments. October 16, 2013 Half of people eligible for Universal Credit concerned about managing cash flow after change to monthly payments Four in ten who are eligible for Universal Credit say they prefer to manage their...

Banking

U.K. Banks Face “Stress Test” from BoE

International Finance DeskOctober 9, 2013

by International Finance DeskOctober 9, 2013

The BoE will start an annual test for the top eight UK lenders like Barclays, RBS and HSBC in 2014 and in the next five years it will be broadened out to include the UK subsidiaries of International banks. October 9, 2013 : In a path breaking initiative, the Bank of England will now have a...

Banking

U.K Accounting Regulator Seeks Executive Pay Overhaul

International Finance DeskOctober 7, 2013

by International Finance DeskOctober 7, 2013

Regulators and government were contemplating for more than one year on ways to better align remuneration with company performance and hand more power to shareholders. October 7, 2013 : Clawing back bonuses from directors could be made easier as the U.K’s accounting regulator has said it may overhaul rules for corporate pay and introduce measures to...

Banking

International Finance Magazine, Financial Awards – Azerbaijan 2013

International Finance DeskOctober 1, 2013

by International Finance DeskOctober 1, 2013

International Finance Magazine announces Financial Award winners for Azerbaijan 2013. October 01, 2013 : International Finance Magazine (IFM), the London based online magazine with a viewership in over 200+ countries announced the financial awards 2013 for Azerbaijan. The recipients have been chosen after a rigorous selection process by the internal team as well as key inputs...

Banking

Off Balance Sheet Transactions of Banks to come Under BASEL Scrutiny

International Finance DeskOctober 1, 2013

by International Finance DeskOctober 1, 2013

The Basel rule requires the banks to hold capital equivalent to at least three percent of their assets, without any possibility to take into account the riskiness of a lender’s investments. October 01, 2013 : Banks are set to face a broad international leverage limit that will catch off balance sheet risks and prevent them from...

Banking

Chapter 11 Bankruptcy

International Finance DeskSeptember 26, 2013

by International Finance DeskSeptember 26, 2013

Chapter 11 is a part of the United States Bankruptcy Code, which involves reorganization of a debtor’s business affairs and assets. It is filed by corporations which need time to restructure their debts. September 26, 2013 : Physiotherapy Associates, an outpatient rehabilitation services provider based in Exton has decided to file for Chapter 11 Bankruptcy due...

Banking

Payments Council announces customer guarantee for new current account switch service

International Finance DeskSeptember 11, 2013

by International Finance DeskSeptember 11, 2013

Guarantee provides peace of mind for anyone switching current account September 11, 2013: The Payments Council reached a major milestone by making public the Current Account Switch Guarantee and Trustmark that will be used by all participating financial institutions, from the launch of the new service in September. The new Guarantee and Trustmark are designed...

Banking

Payments Council dares to think differently about UK’s payments infrastructure

International Finance DeskSeptember 10, 2013

by International Finance DeskSeptember 10, 2013

The Roadmap will be a ground breaking document, and is designed to be a mechanism to shape the nation’s payments infrastructure in a way that provides the maximum benefits to everyone who makes and receives payments September 10, 2013: The publication of the first ever Payments Roadmap – An Initial Report today (17 June 2013), spells out...

Banking

Payments Council responds to the Report of the Parliamentary Commission on Banking Standards

International Finance DeskSeptember 9, 2013

by International Finance DeskSeptember 9, 2013

Payments Council responds to the Report of the Parliamentary Commission on Banking Standards Adrian Kamellard, Chief Executive of the Payments Council said: September 9, 2013: “We welcome the publication of today’s report by the PCBS – ‘Changing Banking for good’. It is a very comprehensive report and we need to now examine it in depth...

Banking

Independent research published to assess customers’ account switching needs

International Finance DeskSeptember 7, 2013

by International Finance DeskSeptember 7, 2013

The research confirmed that the Payments Council’s new account switching service should deliver all the main features that customers have identified as being essential in any successful transfer system. September 07,2013: New research, published today, provides findings from qualitative research commissioned by the Payments Council. The research, undertaken by leading independent market research company Optimisa, was...