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Eurozone finance ministers agree to single bank regulator

Eurozone finance ministers have agreed a plan to hand power to a single bank supervisor in Frankfurt, according to the FT.

According to the paper, finance ministers have agreed to plans for the European Central Bank to begin direct supervision of up to 200 eurozone lenders in early 2014.

The reform would require individual governments to surrender control over their national banks.

Non-eurozone countries, including Britain, also reportedly negotiated safeguards to limit the power of the ECB and maintain some influence over technical standards applied to all EU banks.

Michel Barnier (pictured), the EU commissioner responsible for the proposal, said it was a “historic agreement” providing a “fundamental element for financial stability in Europe”.


FSA censures and bans mortgage broker for displaying reckless conduct

The FSA last week publicly censured London-based mortgage broker Raymond Wagner and banned him from performing any regulated activity with immediate effect. The regulator said Wagner, who was a director of Piccadilly Circus-based firm Ambergate, displayed reckless conduct in relation to a series of mortgage applications which contained inaccurate and misleading information. Wagner allowed a […]

Paragon holding talks to buy private bank Hampshire Trust

Paragon Group of Companies, the parent of Paragon Mortgages, last week confirmed that it is in talks with National Counties Building Society over the purchase of private bank Hampshire Trust, which would give the buy-to-let lender a banking licence. If the deal were to conclude, Paragon would be able to offer its customers savings accounts. […]

L&G launches two-year fix with Skipton

Legal and General has launched an exclusive 2.69 per cent two-year fixed rate product up to 65 per cent LTV with Skipton Building Society.

MS 10 Dec Spotlight

Media Spotlight: You Are Not A Gadget by Jaron Lanier

I recently tried to put together an email save the date for my wedding next year – not having anyones’ physical addresses and with many of my friends moving around several times a year I thought this would be the easiest way to get in touch with them. But there was a problem – I […]


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