UK: UNDECLARED SURPLUS IN NATWEST PENSION FUND
Article Abstract:
Since taking over National Westminster Bank (NatWest) in March 2000, Royal Bank of Scotland (RBS) has discovered a GB[pound] 2bn undeclared surplus in its pension fund. NatWest has already taken a number of pension fund adjustments in recent years, and RBS may now be able to take a further contributions holiday. This may assist RBS in rebuilding its capital base following the takeover. It will now evaluate the size of the NatWest surplus, and the degree to which it may be exploited for shareholders.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
UK: PAYCOM SET UP BY GOVERNMENT TO REGULATE BANKS
Article Abstract:
PayCom, a new banking regulatory body, is to be established by the government to monitor charges and the operation of cash machines and credit cards by the leading UK banks. Its creation was suggested following an investigation into charges levied by banks on private and small business customers. According to investigator Don Cruickshank, bank charges total GB[pound] 40-400 per year for most households, and more for small businesses. The new regulator is set to be announced by the Treasury shortly, and will be set up as early as the next parliamentary session.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
UK: UNIVERSAL BANK BACKED BY BARCLAYS
Article Abstract:
It is understood that the UK bank, Barclays, is poised to support government efforts for the creation of the Post Office Universal Bank. The major UK banks are opposed to the proposals as they are being asked to finance the GB[pound] 130mn cost of launching the bank, which is aimed at the members of society without a bank account. It is thought that Barclay's decision could be related to efforts to improve its image following a spate of branch closures. Barclays, which is launching its own basic bank account on 23 October 2000, said the Universal Bank proposal has merit.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: UK: HSBC OPPOSITION TO UNIVERSAL BANK DROPPED. UK: EGG AFFECTED BY CYBER-CRIME. UK: HSBC SUFFERS HACKER ATTACK
- Abstracts: UK: ONE IN THREE UNHAPPY WITH THEIR BANK. US: INFOBANK EXPANDS IN US. AUSTRALIA: BOS DROPS STAKE SALE MOVE
- Abstracts: UK: ADVANTA SEEDS UK SUES GOVERNMENT FOR 1.5M. UK: GREENPEACE THREATENS GM CROP PLANS. UK: BIOTECH INDUSTRY BEGINS TO LAG BEHIND
- Abstracts: NETHERLANDS/UK: IMPACT OF BA MERGER WITH KLM? UK: SIMON HARFORD QUITS BRITISH AIRWAYS. WORLD: CHALLENGES FOR AIRLINES
- Abstracts: Menswear retailing. Menswear mainstream retailing