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EU watchdog says banks need $1.2 bln to meet capital rules in full

By Huw Jones LONDON, Sept 30 (Reuters) - Banks in the European Union will collectively need a further 1.2 billion euros ($1.18 billion) to meet a set of global capital rules in full by 2028, the bloc's banking watchdog said. In the latest sign of how well capitalised lenders in the bloc have become in broad terms, the European Banking Authority said on Friday that implementing the Basel III global accord in full would result in an average increase of 15% in current core 'Tier 1' capital buffers,
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UK banks told to reimburse customers tricked by scams

By Huw Jones LONDON, Sept 29 (Reuters) - Banks will have to reimburse within 48 hours customers tricked into sending money in a type of online scam that has become Britain's largest type of payment fraud, the Payment Systems Regulator proposed on Thursday. The PSR proposed that banks must reimburse payments over 100 pounds ($107.39) in "authorised push payment" (APP) scams.
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UK banks told to reimburse customers tricked by scams

By Huw Jones LONDON, Sept 29 (Reuters) - Banks will have to reimburse customers tricked into sending money in a type of online scam that has become Britain's largest type of payment fraud, the Payment Systems Regulator proposed on Thursday. The PSR proposed that banks must reimburse payments over 100 pounds ($107.39) in "authorised push payment" (APP) scams.
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Financial Times - Sept 28

Sept 28 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - IMF urges UK to 're-evaluate' tax cuts in biting attack on fiscal plan Link - HSBC, Santander and Nationwide suspend and reprice UK mortgages Link - Labour plans state-owned UK clean energy company Link - Revolut receives green light to run UK cryptocurrency business Link Overview - The International Monetary Fund on Tuesday took
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Santander approves interim dividend of 0.0583 euros per share against 2022 results

MADRID, Sept 27 (Reuters) - Spain's Santander SAN.MC board approved on Tuesday an interim cash dividend against 2022 results of 0.0583 euro per share, equivalent to around 20% of the group's underlying profit in the first half of 2022, the lender said. The cash dividend represents an increase of around 20% compared with the interim 0.0485 euro per share paid against 2021 results.
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Global rates, retail banking included in Bank of England stress test

LONDON, Sept 26 (Reuters) - Banks' ability to cope with rising global interest rates and the resilience of their retail divisions to market shocks will be under scrutiny in this year's "stress test", the Bank of England said on Monday. The test checks if banks hold enough capital to cope with theoretical shocks and aims to avoid a repeat of situations where taxpayers have to bail out lenders as they did in the global financial crisis more than a decade ago.
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Bank of England unveils new bank stress test scenario

LONDON, Sept 26 (Reuters) - The Bank of England set out the economic downturn scenario against which major British lenders' financial health will be tested as part of its annual bank "stress tests". The scenario - which is closer to a worst-case situation than how the BoE expects the outlook to develop - includes the BoE's Bank Rate rising to 6% early next year and a 5% fall in British economic output, as well as a 31% slump in house prices.
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Santander hires law firm to investigate bankers' strip club visit

By Jesús Aguado MADRID, Sept 20 (Reuters) - Spanish bank Santander SAN.MC hired a law firm to investigate a whistleblower report saying a group of bankers visited a strip club after a day of company meetings and pressured younger colleagues to join them, a source close to the matter said. The incident took place in February after the bank's global debt capital markets team held meetings at the lender's UK headquarters, the source told Reuters.
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Spanish government open to modifying tax on banks, energy firms

* Proposed banking tax could be modified in parliament * Shares in Spanish lenders rise on hopes for changes * Government could adapt energy tax to bring it in line with EU By Belén Carreño and Jesús Aguado MADRID, Sept 15 (Reuters) - The Spanish government is open to modifying its proposed bill on a windfall tax on banks and large energy companies to ensure that it does not hurt the country's financial stability and is in line with European proposals, ministers said on Thursday.
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Spanish Banks' ECB Borrowing At Around 289.69 Bln Euros In August - Bank Of Spain

Sept 14 (Reuters) - Bank of Spain: * SPANISH BANKS' ECB BORROWING AT AROUND 289.69 BILLION EUROS IN AUGUST Source text: Link (Gdansk Newsroom)
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Bank of England proposes 'more British style' of finance regulation

By William Schomberg and Iain Withers LONDON, Sept 8 (Reuters) - The Bank of England said on Thursday it would move to a "more British style of regulation" for the country's huge financial services industry as it seeks to take advantage of Brexit. The BoE's Prudential Regulation Authority (PRA), which oversees the stability of banks and other finance firms, published a discussion paper describing its proposals for policy-making now that Britain had left the European Union.
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Bank of England proposes "more British style" of finance regulation

LONDON, Sept 8 (Reuters) - The Bank of England said on Thursday it would move to a "more British style of regulation" for the country's huge financial services industry as it seeks to take advantage of Brexit. The BoE's Prudential Regulation Authority published a discussion paper describing its proposals for policy-making now that Britain has left the European Union.
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Bridgewater cuts short positions in European companies

By Carolina Mandl NEW YORK, Aug 17 (Reuters) - Bridgewater Associates has cut most of its disclosed mammoth bets against European stocks, according to data group Breakout Point, using the hedge fund's public disclosures. In July, Bridgewater's big shorts against stocks in more than 50 European companies reached roughly 10 billion euros, in a sign that the hedge fund firm could potentially be pessimistic about companies on the continent.
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Spanish Banks' ECB Borrowing At Around 289.69 Bln Euros In July - Bank Of Spain

Aug 12 (Reuters) - Bank of Spain: * SPANISH BANKS' ECB BORROWING AT AROUND 289.69 BILLION EUROS IN JULY Source text: Link (Gdansk Newsroom)
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Spanish ruling coalition proposes windfall taxes on utilities, banks

By Christina Thykjaer and Jesús Aguado MADRID, July 28 (Reuters) - Spain's leftist ruling coalition introduced a draft bill on Thursday to create a temporary tax on bank revenues and power utilities' sales to raise 7 billion euros ($7.09 billion) by 2024, a spokesperson for the Socialist Party in Congress said. The measures, part of package to help Spaniards cope with soaring inflation, include a 1.2% levy on Spanish power utilities' sales and a 4.8% charge on net interest income, a measure of
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Santander Brasil beats net profit forecasts but raises loan-loss provisions

(Recasts with share reaction, analyst comments) By Gabriel Araujo SAO PAULO, July 28 (Reuters) - Banco Santander Brasil SA SANB11.SA on Thursday beat second-quarter net income market expectations but its loan-loss provisions rose against a challenging macroeconomic backdrop, sending its shares almost 3% lower. Net profit rose 2% from the previous quarter to a better-than-expected 4.08 billion reais ($778.08 million), as analysts polled by Refinitiv had forecast the Brazilian unit of Spain's Banc
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Financial Times - July 20

July 20 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Ocado Retail chief Melanie Smith to quit Link - Royal Mail postal workers vote to strike Link - Banks and insurers boost UK staff pay to combat cost of living Link - Ministers wasted 190 mln stg 'repeatedly' altering rail upgrade plans Link Overview - Ocado Group OCDO.L , the online supermarket and technology firm, said Melanie Sm
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Spain readies 5% bank levy on interest, commissions, sources say

MADRID, July 18 (Reuters) - Spain's government is readying a levy of just below 5% on net interest income and banking commissions as part of a package to raise 3 billion euros ($3.05 billion) to help tackle the impact of inflation, two sources with knowledge of the matter said. Spanish Prime Minister Pedro Sanchez said last Tuesday that a temporary banking tax would be imposed in 2023 and 2024 but gave no further details.
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Spanish government to discuss bank tax with big lenders next week

MADRID, July 14 (Reuters) - The Spanish government will meet with domestic banks next week to discuss a planned 3 billion euro ($3.00 billion) levy on big lenders included in a package to raise funds to help tackle the rising cost of living, Economy Minister Nadia Calvino said on Thursday. "Next week, I will meet with the Spanish banking sector, with associations and the main lenders," Calvino told public broadcaster RNE, adding she hoped such measures would not hurt investment or have a negativ
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Spanish Banks' ECB Borrowing At Around 289.69 Bln Euros In June - Bank Of Spain

July 14 (Reuters) - Bank of Spain: * SPANISH BANKS' ECB BORROWING AT AROUND 289.69 BILLION EUROS IN JUNE Source text: Link (Gdansk Newsroom)
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