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Things worth reading: 8th May 2009

Things we're reading today include …

Royal Bank of Scotland results:

RBS expects bad loans to mount in 2009 (Telegraph)
RBS profit wiped out by £4.9bn in bad debts (Times)
Royal Bank of Scotland makes £44m loss as loans go sour (Independent)

Other UK bank results:

Lloyds Banking Group ‘profit warning’ sends shares down and puts senior executives in the line of fire (Times)

Barclays and Lloyds expect sharp rise in bad debt (Financial Times)

Barclays leans on Lehman acquisition to shield it from £2.3bn in bad debts (Times)

Products backed by Lehman spark FSA probe (Financial Times)
FSA widens Lehmans investigation (BBC)

Bischoff report rejects 'Glass-Steagall' for UK (Independent)


A new European Regulatory Structure (Finanser)
European Central Bank opts for quantitative easing to lift the eurozone
Policy of 'printing’ money is still not yielding results (Telegraph)
Dark pool trio forms European alliance (Financial Times)

EU deepens probe into Northern Rock rescue (Times)

USA Bank Stress Tests:
US banks told to raise $65bn in new capital (Independent)

Stress-tested US banks race to raise extra $75bn (Telegraph)

Ten US banks fail 'stress tests' (BBC)
Bernanke assures investors that top banks are solvent (Times) 
Tim Geithner says US banking system remains strong (Telegraph)

Geithner's stress tests likely to prove too little too late (Telegraph)

US must use stress tests to improve regulation (Times)


Banks turn to markets in effort to plug holes (Financial Times)
Doubt on banks’ ability to find asset buyers (Financial Times)
Lessons of the Financial Crisis for Banking Supervision, Speech by Ben Bernanke
What if women ruled the banks? (Independent)

And then there's this catchy little number:

Apologies to all my banking friends in the firms identified, but it made me laugh.

About Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.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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