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Bank Of England Warn Of "Challenging" Outlook For Britain's Financial System
11-30-2016, 09:23 AM,
#1
Bank Of England Warn Of "Challenging" Outlook For Britain's Financial System
Bank Of England Warn Of "Challenging" Outlook For Britain's Financial System

<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><strong>Ulster Bank Parent RBS Fails Bank of England Stress Test</strong></p>
<blockquote style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><p><em>"Royal Bank of Scotland (RBS)(RBS.L) will cut costs and sell assets to boost capital levels, it said on Wednesday after failing this year's Bank of England stress test, which warned of a&nbsp;<strong>"challenging" outlook for Britain's financial system</strong>.</em></p>
<p><em>The state-backed lender rushed out a statement following the announcement to say it would take a range of actions, including selling off bad loans and cutting costs to make up the capital shortfall identified by the tests of around 2 billion pounds.</em></p>
<p><em>The unexpected result underlines the litany of problems RBS is grappling with, which include a mounting legal bill for misconduct ahead of the 2008 financial crisis and difficulties selling off assets such as its Williams &amp; Glyn banking business.</em></p>
<p><em>The lender said it had agreed a plan of action with the Prudential Regulation Authority, the Bank of England's enforcement arm, that should mean it does not have to tap markets to raise the money needed."<br /></em>From&nbsp;<a href="http://www.reuters.com/article/us-britain-boe-idUSKBN13P0ID">Reuters</a></p>
</blockquote>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;">We warned of the RBS, Ulster Bank&nbsp;<em><strong>‘£100 Billion Black Hole’</strong></em>&nbsp;and the bail-in risk due to the ‘danger of failing' in June 2014&nbsp;<a href="http://www.goldcore.com/us/gold-blog/rbs-ulster-bank-bail-in-risk-danger-of-failing-due-to-100-billion-black-hole/">here</a></p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><img src="http://dzswc0o8s13dx.cloudfront.net/goldcore_bloomberg_chart1_13-12-13.png" width="768" height="385" style="height: auto; max-width: 100%;" class="alignnone size-large" />Bail-ins can now be used in the UK, EU, U.S. and G20 countries. Banks internationally and especially in Europe remain vulnerable.</p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;">After Cyprus, which country will be the next to suffer&nbsp;<a href="http://info.goldcore.com/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins">bail-ins</a>? Will RBS and by extension Ulster Bank, be the first UK and Irish banks to be subject to bail-ins?</p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px; text-align: center;"><a href="http://info.goldcore.com/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins"><img src="http://info.goldcore.com/hs-fs/hubfs/Protecting_Your_Savings_in_the_Coming_Bail_In_Era_-_Copy-2.jpg?t=1479215840253&amp;width=252&amp;name=Protecting_Your_Savings_in_the_Coming_Bail_In_Era_-_Copy-2.jpg" width="191" height="280" style="height: auto; max-width: 100%; display: block; margin-left: auto; margin-right: auto;" class="aligncenter" /></a><strong><a href="http://info.goldcore.com/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins">Download Guide Here</a></strong></p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><strong>Gold and Silver Bullion - News and&nbsp;Commentary</strong></p>
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<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><a href="http://info.goldcore.com/7-real-risks-to-your-gold-ownership" rel="attachment wp-att-5047"><img src="http://www.goldcore.com/news/wp-content/uploads/sites/16/2016/03/7RealRisksBlogBanner.jpg" alt="7RealRisksBlogBanner" width="822" height="430" style="height: auto; max-width: 100%;" class="alignnone wp-image-5047" /></a></p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><strong>Gold Prices (LBMA AM)</strong></p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;">30 Nov: USD 1,187.40, GBP 952.06 &amp; EUR 1,115.44 per ounce<br />29 Nov: USD 1,187.30, GBP 952.45 &amp; EUR 1,119.98 per ounce<br />28 Nov: USD 1,189.10, GBP 956.51 &amp; EUR 1,117.99 per ounce<br />25 Nov: USD 1,187.50, GBP 953.30 &amp; EUR 1,121.83 per ounce<br />24 Nov: USD 1,187.25, GBP 953.60 &amp; EUR 1,125.04 per ounce<br />23 Nov: USD 1,213.25, GBP 980.00 &amp; EUR 1,143.00 per ounce<br />22 Nov: USD 1,217.55, GBP 978.91 &amp; EUR 1,144.98 per ounce</p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><strong>Silver Prices (LBMA)</strong></p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;">30 Nov: USD 16.67, GBP 13.39 &amp; EUR 15.66 per ounce<br />29 Nov: USD 16.54, GBP 13.26 &amp; EUR 15.61 per ounce<br />28 Nov: USD 16.68, GBP 13.45 &amp; EUR 15.73 per ounce<br />25 Nov: USD 16.47, GBP 13.21 &amp; EUR 15.55 per ounce<br />24 Nov: USD 16.31, GBP 13.09 &amp; EUR 15.43 per ounce<br />23 Nov: USD 16.56, GBP 13.36 &amp; EUR 15.59 per ounce<br />22 Nov: USD 16.76, GBP 13.46 &amp; EUR 15.77 per ounce</p>
<p style="color: #333333; font-family: Georgia, &quot;Times New Roman&quot;, &quot;Bitstream Charter&quot;, Times, serif; font-size: 16px;"><strong><br />Recent Market Updates</strong></p>
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