UK banks seen as dumb Canada Goose Jackets place to put capital
Financial markets in times HSBC chairman
By Sudip Kar Gupta and Steve Slater
LONDON, Nov 23 (Reuters) Not many investors see Britain banks as a wise place to invest and some see it as a place to put Canada Goose Parka capital at present, the head of majority state owned lender Royal Bank of Scotland said.
RBS canada goose replica Chief Executive Stephen Hester also canada goose said on Wednesday that canada goose black friday sale comments by a Bank of England policymaker earlier this week that banks could raise more capital were
would be interested to see the investor who wants to put more capital towards UK banks at the moment. They are thinking it is a dumb place to put more capital, he told lawmakers on parliament Treasury Select Committee.
Hester was responding to comments by the BoE Robert Jenkins that banks were lobbying Canada Goose online too hard to convince the public and politicians that tougher rules would canada goose outlet toronto factory hit economic canada goose outlet store locations recovery, and that they could beef up capital by reducing bonuses, cutting risk taking, or raising debt and equity.
HSBC chairman Douglas Flint said financial markets were in times and investors had limited visibility on structure, regulations and returns.
Flint and Hester said regulatory reforms proposed by Britain canadian goose jacket Independent Commission on Banking (ICB) to make banks safer could be more costly than expected.
Flint said the cost https://www.getcanadagooseoutlet.ca of issuing bonds that could canada goose coats absorb losses would be about $2.1 billion a year for his bank, Canada Goose Coats On Sale which was high to ignore under its assessment of whether to keep its headquarters in London.
perverse that a business model that is conservative in terms of liquidity and capital would be disadvantaged by canada goose deals a mechanism that designed 2018 canada goose outlet to strengthen the system, he canada goose coats on sale said of the reform proposal.
Earlier this month, HSBC said new banking regulations could cost it $2.5 billion a year including a bank cheap Canada Goose levy possibly making Canada Goose Online it too expensive to stay in London.
He said if the bank relocated it would choose Canada Goose Outlet a place where it already had a significant presence.
The ICB estimate that the reforms canada goose clearance sale will cost the industry Followers us up to 7 billion pounds were likely to Canada Goose sale be too low, RBS Hester said.
He declined to estimate the cost for RBS, but said implementation would cost it between 500 million and canada goose store 1 billion pounds and there would be higher funding costs and for holding extra capital.
The reforms will require UK buy canada goose jacket firms to ring fence retail banks from investment banking activities and make banks hold more capital.
The Treasury is prepared to water down the ICB recommendations and drop its suggestion buy canada goose jacket cheap that canada goose clearance retail depositors should be paid back before all other creditors, business newspaper City AM reported.