Belfast store clerk Chantal McCarthy never thought she would have to find a new home at the age of 57. That was before her husband lost his job as a builder three years ago and their finances spiraled downward from there.
U.S. exchanges and some brokers will be required for the first time to conduct coordinated trading tests to show they can recover from natural disasters or terrorist acts, according to a rule proposed by regulators.
Royal Bank of Scotland Group Plc has channelled the equivalent of almost a third of its 45.5 billion- pound ($69 billion) government rescue into bailing out its Irish division after real estate loans soured.
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, has pumped as much as 10 billion pounds ($15.7 billion) into its Irish unit since 2008 to absorb losses from the country’s real-estate bubble.
The U.K.’s consumer-finance regulator is probing technology failures at Royal Bank of Scotland Group Plc, which left some customers at the lender’s NatWest and Ulster Bank units unable to withdraw money.
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, has injected as much 770 million pounds ($1.24 billion) into its Ulster Bank unit to absorb losses from the collapse of Ireland’s real estate bubble.
Rory Cullinan runs the world’s worst bank from a fifth-floor office overlooking Liverpool Street station in London. His 400-person outfit doesn’t lend money or trade securities. Instead, it sells blown-out mortgages, busted loans and entire companies amassed by Royal Bank of Scotland Group Plc before it collapsed in the global financial crash of 2008. On a Friday afternoon in February, Cullinan is savoring a new feeling in his life as a toxic-asset disposal specialist: hope that the worst is finally over.
Royal Bank of Scotland Group Plc, the owner of Ulster Bank Ltd., set aside less money in the second quarter to cover souring loans in Ireland as losses on the portfolio it’s trying to wind down dropped 80 percent.