Bloomberg Discussions among UK banks to establish a shared debt collector for unpaid payments on Covid loans have stalled, the Financial Times reported, citing people familiar with the discussions. Lobbying group UK Finance was leading talks on a shared entity but several of the UK’s biggest banks such as HSBC Holdings Plc and Lloyds Banking Group Plc have soured on ...

Bloomberg Standard Chartered Plc is giving up several floors in its main offices in Hong Kong, as global banks accelerate efforts to cut costs and pandemic upends work styles. The UK lender is relinquishing the lease on eight floors it occupies in its Standard Chartered Bank Building in Central, and will rent out three levels in its Kwun Tong office ...

Bloomberg The Bank of England (BOE) told banks to start getting ready for negative interest rates, while saying that message shouldn’t be taken as a signal that the policy is imminent. The central bank’s Prudential Regulation Authority said most financial institutions aren’t sufficiently prepared, especially as regards to retail products like rate-tracking mortgages, so they should take at least six ...