Royal Bank Of Scotland Share Discussion Threads

[smurfy2001] 02/3/2018 21:55

RBS have earmarked £3.2bn ($4.4bn) !!

The figure in the SKY article is incorrect.

[raffles the gentleman thug] 02/3/2018 21:25

But that's always the way - the figure on the table was from recollection $14bn for Deutsche but the settlement was half that at $7.2bn.The danger here though is the Treasury in their desperation to sell shares push them into too quick a settlement.But whatever happens one must remember that the shares are already trading at a 13% discount to tangible book value meaning a high settlement is already captured in the company's valuation. Certainly once they settle and book value is diluted there is no justification whatsoever to argue a discount

[maxk] 02/3/2018 21:19

And there lies the problem...or, one of them at least.


"A figure significantly higher than the roughly $3.5bn (£2.5bn) that RBS has already set aside to cover the fine is now said to have been put on the table for the first time, they added."

[raffles the gentleman thug] 02/3/2018 20:44

Royal Bank of Scotland (RBS) is edging towards a huge US mis-selling fine that will pave the way for the long-awaited privatisation of taxpayers' majority stake in the company.Sky News has learnt that the lender is due to hold formal negotiations with the Department of Justice (DoJ) this month as discussions begin to focus on the size of the multibillion dollar penalty that RBS will ultimately pay.A final deal over the bank's mis-selling of retail mortgage-backed securities (RMBS) prior to the 2008 financial crisis could be reached within a matter of weeks, sources said on Friday.A figure significantly higher than the roughly $3.5bn (£2.5bn) that RBS has already set aside to cover the fine is now said to have been put on the table for the first time, they added.However, the ongoing status of the discussions between lawyers for RBS and DoJ officials mean that a final settlement figure, and its timing, have yet to be determined.Insiders said that the focus of the DoJ's work was on civil rather than criminal penalties being imposed on RBS.News of the progress in the talks comes just a week after RBS reported an annual profit for the first time in a decade.The bank warned that 2018's financial performance, and its ability to resume dividend payments for the first time since its £45.5bn taxpayer bailout, would be affected by the unresolved DoJ case."We remain committed to restarting capital distributions when permitted, with resolution with the US Department of Justice being a key milestone to enable this," it said last week.One insider said that efforts by UK Treasury officials to accelerate the talks had been an important factor in expediting discussions between RBS and the DoJ.Reaching a settlement is critical to RBS's investment case because it will remove the single-largest financial cost facing the bank, enabling it to open a dialogue with UK regulators about the resumption of dividend payments.That, in turn, would broaden the bank's ownership base to include fund managers who only invest in dividend-paying stocks.As well as the outstanding DoJ penalty, RBS also faces a number of much smaller RMBS probes in the US, as well as civil litigation relating to the malpractice which has seen other banks fined tens of billions of dollars.Last week, RBS set aside an additional £442m to cover RMBS-related costs.A number of lenders - including Deutsche Bank, which paid $7.2bn in 2016, and JPMorgan, which agreed a $13bn penalty three years earlier - have resolved their DoJ exposure over RMBS mis-selling, removing a layer of uncertainty for investors.RBS last year paid $5.5bn (£4bn) to the Federal Housing Finance Agency (FHFA) in relation to the bank's issuance and underwriting of $32bn of RMBS during the leadership of former boss Fred Goodwin.Talks between the DoJ and a cluster of international banks, which also includes Barclays, stalled for months following the election of Donald Trump, the US President, because of a dearth of senior officials within the agency.Barclays is now engaged in a legal battle with the DoJ over its proposed penalty.With the DoJ's staffing vacuum now resolved, both RBS and the UK Treasury want a settlement agreed as quickly as possible.Philip Hammond, the Chancellor, has signalled that any further sale of the public's 71%? stake is contingent upon the US fine being announced.He has publicly acknowledged that future disposals are likely to incur losses for British taxpayers - as the first sale sanctioned by George Osborne did in 2015.

[raffles the gentleman thug] 02/3/2018 20:42

RBS "within weeks" of huge US mortgage mis-selling fineSky news

[leedskier] 02/3/2018 14:58

Quite a few Aim companies had to issue RNS today following the insolvency of Beaufort. This company may be the worst hit by the news.



Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, notes the announcement regarding Beaufort Securities Limited ("BSL") and Beaufort Asset Clearing Services Limited ("BACSL") being placed into insolvency. Additionally, the Company notes that the Financial Conduct Authority ("FCA") has also imposed requirements on BSL and BACSL, with immediate effect, requiring them to cease all regulatory activity.



BSL is the Company's broker pursuant to AIM Rule 35 and as a result of the requirements imposed by the FCA BSL is no longer able to provide broking services to the Company pursuant to AIM Rule 35. The Company is seeking to appoint a replacement as soon as possible and a further announcement will be provided upon such an appointment.



The Company also notes that, further to the announcement dated 27 February regarding a placement for gross proceeds of £750,000 (the "Placement"), the application for the Admission to AIM of 17,647,060 ordinary shares in the Company is to be put on hold until further notice as the Placement was conducted through BSL and to date the Company has not received any of the Placement proceeds.



The Company is however urgently seeking further clarification on the matter, in particular the timeline for the expected release of the outstanding Placement proceeds to Kibo. An update on this situation will be provided as soon as more information is available.

[smurfy2001] 02/3/2018 14:56

Added to my ISA holding 5575 shares averaging 275.

[leedskier] 02/3/2018 14:53

About Beaufort Securities
Beaufort Securities is an award-winning traditional stockbroker incorporated a quarter of a century ago. Over the last two decades it has established itself as one of the UK's leading independent private client investment houses servicing private investors, corporate clients and institutions.

Beaufort is authorised and regulated by the Financial Conduct Authority and a member of the London Stock Exchange, NEX and QCA.

Get in touch




In administration.

[polar fox] 02/3/2018 14:49

Note the break below 260p while she's been speaking. LLOY being sold off too.

[alexgc] 02/3/2018 12:46

The rhetorical question of "How do you know when a politician is lying", seems to be truer as time passes

[ramco] 02/3/2018 10:31

what? largeronald you mean more fudge and pay no say? at this stage? surely not.. it will push maxk for one into the political fray to sort 'em out...;)

[largeronald] 02/3/2018 09:34

Guaranteed to be nothing more than the waffle we've endured for the last 21 months.

[leedskier] 02/3/2018 09:26

Theresa May will urge the warring Brexit tribes to put their differences behind them on Friday as she promises to deliver a deal with Brussels that will keep Britain an “open, outward-looking, tolerant, European democracy”.

In a carefully calibrated speech, its platform hastily relocated from Newcastle to London’s Mansion House because of the severe weather, the prime minister will make a deliberate overture to anxious remain voters.

“We must bring our country back together, taking into account the views of everyone who cares about this issue, from both sides of the debate”, she will say, addressing her own divided party, as well as the public. She will insist that the EU referendum result in 2016 was “not a vote for a distant relationship with our neighbours”.

---

I can barely contain my impatience.

[leedskier] 02/3/2018 08:12

Those numbers have not prevented it from falling 1.6% at pixel time.

[leedskier] 02/3/2018 08:09

Mike van Dulken
‏
Verified account

@Accendo_Mike

London Stock Exchange FY Total Revenues +17% (+10% organic), adjusted Op Profit +18%, adj EPS +19%, dividend +19%, strong financial markets, good progress on CEO replacement with strong field of candidates.

[leedskier] 02/3/2018 06:15

The froth is being blown off the beer as the reality check on earnings and forward concerns about inflation and rate rises spooks.

[leedskier] 02/3/2018 06:12

David Buik
‏@truemagic68

CORE SPREADS - post opening calls suggesting a messy, fractious and downbeat mood on negative global sentiment - FTSE 100 -48 at 7127, DAX -134 at 12056, CAC -41 at 5221 - DOW FUTURES -66 at 24542 -

[mozyali] 01/3/2018 23:30

Anyone into Cryptocurrency?

[maxk] 01/3/2018 23:27

And all these shiny nu electric cars are going to run on what?

[tradejunkie2] 01/3/2018 23:10

My little kitty cat.

VW will provide very tough competition plenty of models coming out in the next couple of years and their platform is new and optimised for electric.

Allot of the so called electric cars are using a modified versions of petrol/diesel cars with modified interiors. VW like Tesla is fresh from the ground up and i'd suggest VW are taking it to the next level.

Check this out it's basically a replacement for the golf.



Kitty out. The number 1 of kitty traders.

[dope007] 01/3/2018 21:45

The Model 3 is $50k and garbage quality. Tesla are finished. Hyundai will take the bottom end Model 3 sales, but the $35k model 3 doesn't exist

[smurfy2001] 01/3/2018 19:58

Nah the prices are ridiculous over double the Tesla Model 3.

[dope007] 01/3/2018 19:04

Jaguar just killed Tesla. Loads of downside on it

[polar fox] 01/3/2018 16:57

Note the chunky selling @269p by a couple of PDMRs. Hmmm.