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Banking Disputes Blog

Interest rate swaps - Grant Estates update

Interest rate swaps - Grant Estates update Posted on May 31, 2012 by Liina Tulk  | 0 Comments Grant Estates update During the last two days of the debate, Mr Iain Mitchell QC for the Grant Estates has had the floor. Yesterday, Mr Mitchell explained that the Pursuer’s submission is that the regulatory regime, correctly construed, prevents RBS from arguing that the contract in question was execution only, as opposed to a contract for advice. Under the Regulatory regime, Mr Mitchell continued, if a bank gives advice, the contract in question becomes a contract for advice, regardless of whether it started...
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785 Hits

RBS faces further accusations over interest rate swaps

RBS faces further accusations over interest rate swaps Posted on May 28, 2012 by Cat Maclean  | 0 Comments RBS faces accusers over interest rate swaps, writes the Herald Writing in the Herald this morning , Simon Bain reports that Royal Bank of Scotland is facing a call to "come clean" at its annual meeting in Edinburgh tomorrow on the number of interest rate swap agreements (IRSAs) it has sold to small businesses across the UK. Further pressure is likely to be heaped upon the beleagured bank at the AGM tomorrow when the organisation "Bully Banks" mounts a visual presence outside...
  1275 Hits
1275 Hits

Scotsman reports on FSA investigations into hedging and swaps

Scotsman reports on FSA investigations into hedging and swaps Posted on May 06, 2012 by  | 0 Comments article in the Scotsman today reporting that the FSA is at long last planning to investigate the issue of the mis-selling of swaps and other hedging products to small businesses – although the investigation at present is limited to the FSA asking the UK major clearing banks for further information in order to consider whether a more in-depth investigation. Progress? Time will tell but it seems a somewhat lukewarm response to the growing pressure on the FSA to take decisive action.  
  1263 Hits
1263 Hits

Hidden dangers of swap agreements: misselling of interest rate swaps by the Banks

Hidden dangers of swap agreements: misselling of interest rate swaps by the Banks Posted on Apr 19, 2012 by Cat Maclean  | 0 Comments Leading up to the beginning of 2008, large numbers of small and medium size businesses agreed, often on the advice or insistence of the Bank, to financial products  known as “swaps” or "hedges" in order to protect themselves against interest rate rises on their borrowings. While banks eagerly explained the benefits of swaps, in numerous cases they omitted advising the customers of the, often enormous, potential risks. Not only were those customers left paying increased monthly repayments...
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1165 Hits

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