UK: REGULATORS CONSIDER NEW BANK INQUIRY

Article Abstract:

A review of the money payments system by the UK Treasury, due to be published in the first week of December 2000, could result in another inquiry into the operation of UK banks by the Competition Commission. The banks are already being investigated for lending to small and medium-sized businesses. The Treasury review will set guidelines for the new regulator for the money payments systems, PayCom, which will work with the Bank of England rather than the Financial Services Authority. However, the government is concerned that the four main clearing banks dominate payments and discourage new players.

Government regulation (cont)

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UK: NATWEST SET TO AGREE MERGER WITH RBS?

Article Abstract:

NatWest will not press for the Office of Fair Trading to refer the Royal Bank of Scotland bid to the Competition Commission, which makes it more likely that the merger will take place. The Office of Fair Trading is to complete its investigations of the RBS bid on 3 December, but it also has to take into account the hostile bid from the Bank of Scotland (BoS). The consensus is that the Trade and Industry Secretary Stephen Byers may refer both bids to the competition authorities.

Asset sales & divestitures, National Westminster Bank PLC (London, England), Royal Bank of Scotland PLC

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