Lloyds Banking Share Discussion Threads

[utrickytrees] 07/1/2021 14:02

Brit? we dont need anymore Freddy Goodwins Joe, best stay clear of the Jocks eh. Bailey's a Leicester lad.

[joestalin] 07/1/2021 13:57

Any self respecting remoaner would be squealing "VOTE AGAIN!!!!!"

[poikka] 07/1/2021 13:51

Me - "The idea that the Democrats are capable of cheating at elections, but not the Trump supporters, is completely risible."

Cheshire - "You are wrong. It is a matter of historical record that the Democrats won the 1960 election by fraud.."

I'm not aware that that was the case, but even if it was my comment has not been proven to be false; so actually - you are wrong.

[joestalin] 07/1/2021 13:47

Carney is a Canadian, which is still 'Commonwealth personnel'. He got the job because of the pro-EU Cameron government.

We do need a Brit in charge, though.

[maxk] 07/1/2021 13:45

I think it's also a warning to Doris .. dont try to pull a fast one.

[utrickytrees] 07/1/2021 13:33

Isnt it refreshing to be rid a Carney, & have English/ Commonwealth personnel at the BoE suddenly everything seems to be falling into place.

[maxk] 07/1/2021 13:17

Britain must not be forced to take EU rules on finance, warns Bailey

It is important to keep control of the rules governing the vital industry, the Governor of the Bank of England told MPs

By
Tim Wallace
6 January 2021 • 6:40pm





Britain must not become a “rule-taker” of Brussels’ mandates on financial services in the next stage of Brexit talks, as it is key to retain control of regulations governing the vital industry, according to Andrew Bailey.

The Governor of the Bank of England said the UK must be able to make its own rules for the City, even if it means EU authorities refusing to allow access to markets across the Channel.

If the UK agreed to take EU rules, it would be bound to follow Brussels’ decisions even when regulators in London thought they were unsuitable for British banks, or even threatened financial stability.

British officials are keen to change the Solvency 2 rules governing the insurance sector, for example, and reject some EU decisions to count IT systems towards banks’ capital buffers.

It is important that Britain is allowed to make these changes without being cut off from EU markets, Mr Bailey said, but if the EU insisted the UK follows its rules then it was worth losing out on access based on "equivalence" decisions in Brussels.


“I would strongly recommend that we do not become a rule-taker. I think that is a very bad place to end up,” he told MPs on the Treasury select committee.

“If the price of that is no equivalence, then I’m afraid that will follow. That is the wrong outcome for the UK, but if that is where it goes. I am strongly opposed to rule-taking.”

EU officials have only granted the UK equivalence status in central clearing for 18 months and securities settlement for six months. By contrast the UK has granted EU firms equivalence in 17 areas, allowing much more open trade.

But if Brussels expects Britain to accept its rules in exchange for access, Mr Bailey would turn them down.

Sam Woods, a Deputy Governor, said the UK is unlikely to end up in such a bind.

“I don't think we are on that rule-taker path at all,” he said.

“There is an absolute recognition that both sides need to evolve their rules and will do so in their own way. If you had to be a rule-taker to get equivalence, you would be crazy to do that deal.”

Anil Kashyap, a member of the Bank of England’s Financial Policy Committee, said the EU and UK both aimed to follow global rules on finance, even if they implement them in different ways, which meant “it is not like the EU can hold the UK hostage”.

[minerve 2] 07/1/2021 13:09

The US can no longer go criticising the likes of the Venezuelas of this world. Their attempts to play the moral high ground no longer have solid foundations thanks to Trump, GOP and morons.

Every cloud has a silver lining.

They best shut up and get their own house in order first.

[utrickytrees] 07/1/2021 13:04

S4B's that's unlikely, your go to yesteryear scientist for divvies has to be Newton...think about it!

[minerve 2] 07/1/2021 13:02

Utricky

Your Ohms mistake was genuine. You are a thicko attempting to be clever. Intelligent people can see you for what you are. Do keep it up, it is entertaining. :)

[minerve 2] 07/1/2021 13:00

Oh, 1960, that's applicable. LOL

Trump was using his mob to intimidate voters at the polls. He then put in a stooge in the UPS in order to manipulate the logistics on that part of the voting system. Republicans have kept quiet whilst Trump was attempting to start a mob ruled soft coup.

The republicans have attempted to steal democracy from the electorate and failed. Democrats behaviour has been impressively decent considering the circumstances.

The morons have lost. What a shame. LOL!

Now they can go back to the holes they crawled out of.

[grahamite2] 07/1/2021 12:59

bbalanjones7 Jan '21 - 11:02 - 328022 of 328038
0 2 0
Trump has earned the 25th Amendment.

Pray tell, what would be the useful purpose of this given that Trump has less than a fortnight to serve anyway?

You people have truly been made mentally unbalanced by your hatred.

[minerve 2] 07/1/2021 12:54

I agree bob but they need to be doing it regularly and before the horse has bolted. If they don't it just looks like they are jumping on the convenient bandwagon of virtue signalling in attempt to score more political brownie points. They all have had plenty of opportunity to denounce Trump's inciting of violence - he's been doing it for months.

[bargainbob] 07/1/2021 12:41

Well done Nicola calling out this behaviour .

Civic Nationalists need to point out the likes of Boris , Trump , Farage and little Englanders like Utrickytrees and highlight the dangers off this type of Nationalism.

[lefrene] 07/1/2021 12:40

But what will she say if more evidence appears that Antifa orchestrated the event, to deliberately undermine the valid Republican evidence of a stolen election? She will of course say nothing, as it's not a bandwagon.

[xxxxxy] 07/1/2021 12:39

Today: Bank of England governor says Britain must not become EU 'rule-taker' on financial services as he puts UK's ability to make changes ahead of access to markets. Meanwhile, Boris asks business leaders for their ideas on how to cut red tape post-Brexit and Britain plans farming reforms.BoE boss warns UK must not become 'rule-taker' on financial services: Bank of England governor, Andrew Bailey has said that Britain must not become a "rule-taker" of Brussels on financial services in the next stage of Brexit talks, as it is key to retain control of regulation governing the vital industry. He said the UK must be able to make its own rules for the City, even if it means EU authorities refusing to allow access to markets across the Channel. When regulators in London feel that decisions made in Brussels are unsuitable for British banks, it is important that Britain can make changes without being cut off from EU markets, according to Mr Bailey, but if the EU insisted the UK follows its rules then it was worth losing out on access based on "equivalence" decisions in Brussels.Some areas that the UK may want to change pace with the EU have already been identified with British officials keen to change the Solvency 2 rules governing the insurance sector, for example, and reject some EU decisions to count IT systems towards banks' capital buffers."I would strongly recommend that we do not become a rule-taker. I think that is a very bad place to end up," Bailey told MPs on the Treasury select committee. "If the price of that is no equivalence, then I'm afraid that will follow. That is the wrong outcome for the UK, but if that is where it goes. I am strongly opposed to rule-taking."The BoE governor also confirmed that the number of financial services jobs moving to Brussels had been 'substantially less' than many had predicted after the referendum result. He also questioned the EU's position over financial services saying that he fails to see why people would want to close themselves off from open markets. "The situation we find ourselves in is that the EU wants more information from the UK on what its future intentions are on regulation. I think that's quite problematic frankly in terms of equivalence."Boris asks business leaders for their ideas on cuts to red tape: Boris Johnson told 250 business leaders that he wants to hear their ideas on how to cut red tape post-Brexit. Accompanied by Rishi Sunak on the call, the PM said that employees were looking for a return to normal and this desire will help power a rapid recovery from the pandemic. Ministers signalled their intention to "strike through the red tape and bureaucracy" created by regulations from Brussels and called on firms to step forward with ideas for how to streamline British rules, an attendee said. Cornish fishermen call for more to be done for shellfish exports: Cornish fishermen are concerned that under the trade deal with the EU their exports of shellfish have stopped, leaving their boats 'gathering dust', according to one fisherman. Since January 1st, only 'ready to eat' shellfish accompanied by an export health certificate (EHC) can be sent to the EU. This is due to change in April but DEFRA said it is working to allow all shellfish exports sooner. Gene-editing in UK's farming future, says Eustice: George Eustice has written in The Times today, outlining his vision for British farming post-Brexit. Free from the bureaucratic Common Agricultural Policy, Britain will invest the money that we free up to support agriculture in different ways, he says. One area that he believes can be the future of British farming is in relation to gene editing."Two years ago, the European Court of Justice ruled that cisgenic techniques such as gene editing should be treated the same as genetic modification under EU law. That means that new technology would be stifled from the beginning because the EU's procedures around gene editing are notoriously flawed and politicised such that no one trusts the integrity of the procedure," Eustice writes, going on to say that this decision was fundamentally based on legal interpretation and not on science. Unlocking the benefits of this technology could boost British farming and Eustice aims to have a simpler, scientifically credible regulatory framework to achieve this. Shake up to British farming subsidies: There was also news that a post-Brexit subsidy plan will see its first pilot scheme in Norfolk where £320,000 has been made available to encourage farmers to protect turtle doves. The government is looking to trial 'reverse auction' schemes, where farms bid to receive funding, showing how they would protect a particular species on their land.Trump promises 'orderly transition' after Capitol events: In the US, Donald Trump has said there will be an "orderly transition" of power after the US Congress confirmed Joe Biden as President following a march in Washington DC that ended in the storming of the Capitol building.For the latest news and developments throughout the day, please do follow @GlobalVision_UK on Twitter.Thanks for reading, and enjoy the rest of your day.

[minerve 2] 07/1/2021 12:38

Sturgeon and Merkel just as bad as Patel on this one. They have had plenty of opportunity to speak up against the behaviour of Trump way before now. Anybody with at least half a brain could see what he was up to.

[lefrene] 07/1/2021 12:13

Perhaps Mr Trump should pardon Mr Assange and get the inside info on all the double dealers? That would be fun!

[minerve 2] 07/1/2021 12:11

Ohm's?

Back to school.