Royal Bank Of Scotland Share Discussion Threads

[maxk] 14/2/2018 21:05

Walk away time comes closer..




EU wants power to raid financial firms in Britain after Brexit



By James Crisp, Brussels correspondent
14 February 2018 • 5:51pm




The European Union will demand the right to raid financial services firms in Britain after Brexit and hand its regulators sweeping new powers, as Brussels moves to shackle the City of London with red tape after the UK leaves the bloc.

The three regulators, the European Supervisory Authorities (ESAs), will be given extra resources, levied in large part from British-headquartered firms, under the plans to closely police enforcement and regulation of the City.

Brussels will bestow the new powers on the ESAs during the Brexit transition period, when Britain will be stripped of EU voting rights and be powerless to stop the changes.

After transition, the ESAs will report to the European Commission,...



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[ramco] 14/2/2018 14:55

oh! oh! watch out on that CPI stateside...

[polar fox] 14/2/2018 13:58

This seems to have escaped much notice, but the ONS is also switching inflation releases to Wednesdays, from Tuesdays, to avoid a clash. In effect, they simply switch places. Presumably, the bird brains at Westminster can absorb the CPI rates in time for PMQs.

[blusteradjuster] 14/2/2018 08:49

Indeed.

It’s how the brain works - why not harness it?

[leedskier] 14/2/2018 08:43

Back in the day I was a governor of a primary school. I was horrified to discover that times tables were no longer implanted deep into long term memory by chanting them. When I raised the issue, the headmaster said "we don't chant".

Roll forward a few years and chanting was firmly back in fashion.

I can still chant the times table up to 12 x 12 in my sleep.

In my day we learnt how to conjugate French verbs by chanting too.

[blusteradjuster] 14/2/2018 08:36

Too many history graduates in the commons..



"The ONS is shifting the day it releases certain monthly data after concerns that the data was "not fully understood" by MPs before being debated in the House of Commons.

The statistical body will now publish its regular labour market update on a Tuesday, instead of a Wednesday, to give politicians a chance to more thoroughly get acquainted with the details before they begin the weekly bunfight that is Prime Minister's Questions."

[maxk] 14/2/2018 08:34

Good news?

[leedskier] 14/2/2018 08:17

There is going to be Boris Speak today. Will there be Q&A?

The drift seems to be an escape from Colditz is still possible.

[leedskier] 14/2/2018 08:15

7,214.37
+46.36 (0.65%)

[polar fox] 14/2/2018 07:54

Markets have risen in the past hour or so - Dow up around 200 and the FTSE up about 60. Not sure why yet.

[polar fox] 14/2/2018 07:41

No comment.

"The ONS is shifting the day it releases certain monthly data after concerns that the data was "not fully understood" by MPs before being debated in the House of Commons.

The statistical body will now publish its regular labour market update on a Tuesday, instead of a Wednesday, to give politicians a chance to more thoroughly get acquainted with the details before they begin the weekly bunfight that is Prime Minister's Questions."

Presumably starting next week.

[polar fox] 13/2/2018 14:02

I've been out all morning and just catching up with the inflation data.

For info, January's 4.0% y/y RPI is the percentage rate by which pensions will be increased across the RBS Group Pension Fund, from April. By way of comparison, the main Lloyds Pension Scheme will also increase from April, but by a tenth less - 3.9% - as it is geared to last September's annual RPI.

I happen to be attorney for an elderly family member, who is receiving both pensions, so I've enjoyed coming to grips with all the detail.

[raffles the gentleman thug] 13/2/2018 10:08

I'm just stunned core inflation is accelerating to 2.7% and ten year gilts in this country remain at 1.6%. It seems the appetite to continue to lose money in real terms knows no limits

[leedskier] 13/2/2018 09:49

It is quite clear. The BoE does not have to raise rates. What is required is for zoos to be closed down and public gardens to be turned into affordable housing estates.

[leedskier] 13/2/2018 09:41

ONS

The largest downward contribution to change in the rate came from prices for motor fuels, which rose by less than they did a year ago.

The main upward effect came from prices for a range of recreational and cultural goods and services, in particular, admissions to attractions such as zoos and gardens, for which prices fell by less than they did a year ago.

[leedskier] 13/2/2018 09:39

Neither the equity nor fx markets seem to have over reacted to that data. No doubt the computers are still crunching the numbers. I guess it increases the likelihood of higher rates at some point.

[leedskier] 13/2/2018 09:36

Inflation remains at 3%.

[leedskier] 13/2/2018 09:14

No one is suggesting it is evil. It may however be futile.

[grahamite2] 13/2/2018 08:49

I rather think the evils of high frequency trading are overstated. You'r only vulnerable if you're day trading, and if you are you need to accept you're gambling and the casino isn't altogether straight.

[leedskier] 13/2/2018 08:30

Trading is where the market buys shares in the expectation that all other things being equal the price of the shares will follow a predictable path over a period of days or weeks.

We do not have that kind of trading in bank shares.

What we have is volatility driven by computers churning out trades faster than the eye can blink.

[leedskier] 13/2/2018 08:05

In fact the Guardian reports that the Treasury Select Committee has told the FCA to publish it.

[grahamite2] 13/2/2018 07:58

Here we see the proof that most conspiracy theories are complete tommyrot.

The idea that 500 people could be in on a secret and not one of them make it public is ludicrous.