NatWest Group
Financial CDSs widen worldwide
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
CDSs widen on UK banks
Credit derivatives referencing UK banks continued to widen this morning, following a week in which Lloyds TSB announced it will absorb a £10 billion loss due to its merger with HBOS.
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
RBS chairman departs earlier than expected
Royal Bank of Scotland's (RBS) chairman, Tom McKillop, has stepped down two months earlier than he intended.
RBS expects $28 billion loss and is 70% nationalised
Losses & Lawsuits
Hedge funds grilled by UK Treasury committee
Daily news headlines
UK announces second bank rescue package
Daily news headlines
Massive writedowns expose failure of RBS' ABN Amro takeover
Ahead of its 2008 results announcement next month, Royal Bank of Scotland has warned of £28 billion in writedowns and losses, much of it associated with the 2007 takeover of parts of the Dutch bank ABN Amro. The UK government has again stepped in to help…
RBS combines CDO/CLO business with MBS/ABS division in Asia
The Royal Bank of Scotland (RBS) has combined its Asian collateralised debt obligation and collateralised loan obligation business with the mortgage-backed/asset-backed securities (MBS/ABS) product business under Byron Holmes, Tokyo-based head of Asia…
UK CDS spreads up
The cost of credit protection on UK banks increased in early trading this morning, while US financial institutions experienced mixed market sentiment.
Government takes majority stake in RBS
Royal Bank of Scotland (RBS) is now majority owned by the government after receiving a £20 billion bailout.
Investors approve RBS' £19.7 billion capital raising plan
The Royal Bank of Scotland (RBS) gained overwhelming investor support for raising £19.7 billion in preference shares at an extraordinary general meeting yesterday, in which the chairman apologised for the bank's poor financial performance this year.
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.
RBS announces further credit market hit
Royal Bank of Scotland (RBS), one of three British banks to receive capital injections under a £50 billion government bailout package, on Monday announced writedowns of £206 million of credit assets in the third quarter, following £5.9 billion of…
RBS appoints head of covered bond trading
Royal Bank of Scotland (RBS) has named Allen Rad as head of covered bond trading.
Lake joins RBS as a UK derivatives sales head
David Lake has joined Royal Bank of Scotland as head of equity derivatives and structured products sales UK and Ireland.
RBS, HBOS and Lloyds TSB ask for government capital
The UK government announced this morning it will pour a total of £37 billion into Royal Bank of Scotland (RBS), HBOS and Lloyds TSB, as part of a recapitalisation plan revealed last week.
UK bank CDS spreads tighten further
The cost of credit protection on UK banks fell further in early trading today following the unveiling of a £50 billion government rescue plan on Wednesday, but US markets remained unstable.
CDS spreads widen despite bailout approval
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.