hsbc

Barclays, HSBC, Lloyds and RBS have agreed settlements with the FSA after the regulator found "serious failings" in their sales of interest rate hedging products.

RBS and Lloyds, the two UK tax-payer backed banks, are among a dozen financial groups being investigated for manipulating the LIBOR rate, which resulted in a record £290m regulator fine for Barclays, it was revealed yesterday.

CIO Plamen Monovski tells Katie Holliday about his firm's ‘Indiana Jones' approach to investing and his ambitious plans to grow the business.

FIXED INCOME

Credit rating agency Moody's has downgraded 15 financial institutions overnight, including major UK and US banks.

Rating agency Moody's is preparing to downgrade several UK banks this evening, including RBS, Barclays and HSBC, according to reports.

A top official at the Financial Services Authority (FSA) has warned Britain's four largest banks face more questions over their sale of interest rate hedges to small business customers.

GOSLING'S GROUSE

MULTI-MANAGERS

The country's major banks are sitting on £40bn of undeclared losses that are stopping them lending to businesses and households, a report has claimed.