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Things worth reading: 7th May 2009

Things we're reading today include:

Companies:

Barclays and Lloyds reveal steep rise in bad debts (Times)

Barclays pre-tax profits up 15% (BBC)

Lloyds shareholders consider protest over Victor Blank's re-election (Guardian)

Royal Bank of Scotland overhauls executive team (Guardian)

BNP’s balance sheet cheers European banks (Financial Times)

Surprise: AIG bonuses more than first reported (MSN)

Europe:


(EU) Parliament backs tighter capital rules for banks (Euractiv)
European central banks $40bn poorer after decade of gold sales (Telegraph)

USA:

US jails China bankers for fraud (BBC)

US Stress Tests:

How We Tested the Big Banks, by Timothy Geithner (New York Times)

Billions required to bolster US banks (Financial Times)

US banks 'safe from insolvency' (BBC)

Bank of America Under Pressure (Reuters)

BofA told to raise $34bn of new capital (Independent)

Bank of America needs $33bn more, US government warns (Guardian)

Wells Fargo Said to Need $15 Billion in New Capital (Bloomberg)

Roubini: Don't Believe the Stress Tests or the Bank Rally (Yahoo!)

General interest:

Insolvent banks should feel market discipline (Financial Times)
How banks learnt to play the system (Financial Times)
Virtual Currencies Gain in Popularity (Business Week)

Undercover IT expert cracks financial firm with social engineering (Computer Weekly)

About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here…

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