Faced four major high street banks in the UK are an additional 19
billion pounds sterling costs and conducting litigation before the end
of 2016, and who will pay the price for the mistakes of the past
continue, analysts say.Estimates of the rating agency Standard & Poor's, are Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group. They add up to 42 billion euros in charges in the five years to 2014thMet including other banks, such as the Clydesdale, Yorkshire and the
Co-op, and the construction and national Yorkshire company, the total
cost of the scandals by 13 financial companies during the same period
was £ 48,000,000,000th.
Lloyds, which less than 20%, which is the taxpayer owned, now has higher costs than all its competitors arise because insurance mis-sold payment protection (PPI). Exceeded its PPI bill was £ 12000000000, bringing the total banking regulations for this type of more than £ 14000000000 behavioral problems.The total cost of the PPI scandal reached 26000000000 pounds, S & P estimates PPI is designed to ensure customers against unexpected payment of debts, could be made, but it was also "an important source of income for the business units of the bank."S & P analysts said: "Overall, we believe the worst time provisions PPI is now adopted" They calculate that the provisions for the mis-selling of interest rate products for small businesses. also down.
The agency said: "We believe that some banks still charge from Bank litigation related equipment investment will create in 2015, according to the time, the allegations behavior retailer said passing, assume that 2015, the last great his year for legal expenses . ".Banks hit by fines for manipulating the Libor and exchange markets EUR 3.5tn per day. Barclays, the first person to be convicted for manipulating the Libor in June 2012, not yet on a solution to the currency markets agreed to manage, even if it took a provision of 1.25 billion pounds in preparation for a penalty.
"Looking to the future, we believe that travel costs and litigation are now" a way of life "for the banking sector in the UK, and that some type of load seems unlikely to the largest banks and every two years for the smallest (but every year approximately in the order of PPI) institutions, "said S & P.Start The estimate of £ 19000000000 of the four major banks in the next two years is less than 22 billion pounds for the last two years and evidence from past mistakes might shrink. The additional costs are for compensation for private clients, but continue to visit other issues such as currencies, Libor and money laundering error class for which it fined HSBC 1.2 billion pounds in 2012.
S & P said banks have tried to get around to large bills on the future of their current treatment of customers and the development of financial markets. He said: "The recent examples of changes are more important and measurement of behavioral problems in the banking risk, the banks concentrate on providing the proof that they are doing is right for the customer, and changed sales practices, the less aggressive and the short-term in nature. In addition, the most important security forces, which are often hired by regulators now generally members of the Executive Committee and report directly to the CEOs of banks. "
Lloyds, which less than 20%, which is the taxpayer owned, now has higher costs than all its competitors arise because insurance mis-sold payment protection (PPI). Exceeded its PPI bill was £ 12000000000, bringing the total banking regulations for this type of more than £ 14000000000 behavioral problems.The total cost of the PPI scandal reached 26000000000 pounds, S & P estimates PPI is designed to ensure customers against unexpected payment of debts, could be made, but it was also "an important source of income for the business units of the bank."S & P analysts said: "Overall, we believe the worst time provisions PPI is now adopted" They calculate that the provisions for the mis-selling of interest rate products for small businesses. also down.
The agency said: "We believe that some banks still charge from Bank litigation related equipment investment will create in 2015, according to the time, the allegations behavior retailer said passing, assume that 2015, the last great his year for legal expenses . ".Banks hit by fines for manipulating the Libor and exchange markets EUR 3.5tn per day. Barclays, the first person to be convicted for manipulating the Libor in June 2012, not yet on a solution to the currency markets agreed to manage, even if it took a provision of 1.25 billion pounds in preparation for a penalty.
"Looking to the future, we believe that travel costs and litigation are now" a way of life "for the banking sector in the UK, and that some type of load seems unlikely to the largest banks and every two years for the smallest (but every year approximately in the order of PPI) institutions, "said S & P.Start The estimate of £ 19000000000 of the four major banks in the next two years is less than 22 billion pounds for the last two years and evidence from past mistakes might shrink. The additional costs are for compensation for private clients, but continue to visit other issues such as currencies, Libor and money laundering error class for which it fined HSBC 1.2 billion pounds in 2012.
S & P said banks have tried to get around to large bills on the future of their current treatment of customers and the development of financial markets. He said: "The recent examples of changes are more important and measurement of behavioral problems in the banking risk, the banks concentrate on providing the proof that they are doing is right for the customer, and changed sales practices, the less aggressive and the short-term in nature. In addition, the most important security forces, which are often hired by regulators now generally members of the Executive Committee and report directly to the CEOs of banks. "
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