July 3rd, 2009
head of the world's largest bank by assets Royal Bank of Scotland refused to multimillion bonus. Top-manager of the bank, 70% of which belongs to the British Government took this decision against the backdrop of dissatisfaction with the European anti-crisis measures in the British banking system.
the Director-General of the world's largest bank on the common assets ($ 3.5 trillion) - British Royal Bank of Scotland (RBS) - Stephen Hester has decided to waive part of a multimillion bonus. Hester decided to postpone the execution of two-year option to sell shares in RBS at 3.4 million British pounds. The total amount of the compensation package of Mr. Hester is 9.7 million pounds. According to unofficial data of the British media, the head of RBS, which is 70% owned by the British Government took this decision under pressure from shareholders.
Decision
top-manager of the world's largest bank, which is both one of the most problematic (RBS, according to the The Banker, has become the most profitable bank on the basis of peace in 2008, losing $ 59.3 billion), was adopted against a background of growing pressure on British banks as a whole. In last Tuesday evening, head of EU's Anti-Monopoly Policy Neli Cruz said in London that the European Commission will pay particular attention to the British banking sector, which is necessary to intensify the reform crisis. According to Ms. Cruz, since the collapse of Lehman Brothers in September 2008, the British financial sector in the presence of two banks, showing the worst results in Europe, has accumulated losses of 250 billion pounds, which far exceeds the volume obtained fresh capital. European Commissioner said that a high probability that Lloyds and RBS will have to part with part of its assets, and promised to work actively on this issue with the British Government, hinting at the imminent forced sale of the assets of RBS and Lloyds. Already yesterday, Financial Times reported that retail buyers of the assets of RBS in Asia could become Britain's Standard Chartered and the Australian ANZ.
British government entered the capital's second biggest bank Royal Bank of Scotland and the largest mortgage bank Lloyds Banking Group late last year, invested in a total of 37 billion pounds. The partial nationalization of two major banks has caused negative reaction of investors - from October last year, now shares Lloyds Banking Group and RBS have fallen in price by 53% and 40% respectively. State intervention saved these two banks, and helped the British financial system, but has not improved the financial condition ofLloyds and RBS, - considers the senior teacher of Banking Business School of Manchester, Professor Ismail Ertürk.
Reform of the British banking sector may not be limited to a sale of assets of RBS and Lloyds: the market was an informal information that the board of directors of Lloyds could lead the former head of the Board of Directors of Citigroup, Sir Win Bischoff who has extensive experience of crisis management issues Financial Corporation , which is a major gospomosch.
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