Banks MPs and Government

Independent Banking Advisory Service

Banks MPs and Government

Many "sound" small firms could be bankrupt by Christmas because of the financial crisis, business bosses warn. See Business Banking Solutions

Where banking is concerned IBAS are more than just an extra 'pair of hands' and we spend our time helping members avoid or overcome business difficulties. We provide truly independent, impartial banking advice and direct assistance with business help for members with their business and banking, whilst also campaigning on banking issues. email us or call us on 01487 843444 and tell us how we can help your business now.

The Bank of England's Financial Stability Report is not good reading and shows the extent of the problem created by banks and poor regulation. Robert Peston BBC Business Editor provides a good outline on his blog but the numbers are staggering. A recession lasting at least 3 years is very much on the cards now. Businesses will inevitably suffer as borrowing gets tighter. Many will fail as bankers look after themselves first - yet again. - 28th October 2008

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The head of the Financial Services Authority has warned the City that the era of light-touch regulation is over The FSA chairman Lord Turner said: his body would soon have "more people asking more questions" about the way the financial sector was being run. And he said the watchdog would have more room to do this because the current crisis had debunked the myth that hands-off regulation was key to competitiveness. Well it's taken a long time coming, but as we have been saying for a long time bankers cannot regulate themselves. They will inevitably be regulated in future with a somewhat 'heavier touch'- We cannot say anything but 'at last' and good, but look at what it's cost to make this happen? - 17th October 2008

The government has been accused of "complacency" after it apparently ignored warnings in July about Icelandic banks facing collapse. Is your money still in Iceland? Is your local council's money still in Iceland? Also some UK charity funds are on deposit in Iceland and fear they have lost up to £120m of funds invested in failed Icelandic banks - Will the UK Government get the money back for any of these? - 10th October 2008

Banks have been allowed too much 'rope' for too long. They are now hanging us all with it. Light touch regulation is to blame and regulators who do not bite hard or quick enough are part of the problem. The solution is better and stronger regulation. This last six months has proved that our existing systems are not good enough. It will probably swing the other direction now, but banks only have themselves to blame for that. Unfortunately, banking consumers of all types will inevitably pay for both the bank mistakes and the correction which will follow. - Eddy Weatherill, Chief executive, the Independent Banking Advisory Service (IBAS) 14th February 2008

The Financial Services Authority (FSA) published FSA's Financial Risk Outlook for 2008 - warning firms and consumers of the risks inherent in a significantly less benign economic environment. Its central scenario identifies the following five priority risks:

Existing business models of some financial institutions are under strain as a result of adverse market conditions;
Increased financial pressures may lead to financial firms shifting their efforts away from focusing on conduct of business requirements and from maintaining and strengthening business-as-usual processes;
Market participants and consumers may lose confidence in financial institutions and in the authorities’ ability to safeguard the financial system;
A significant minority of consumers could experience financial problems because of their high levels of borrowing;
Tighter economic conditions could increase the incidence or discovery of some types of financial crime or lead to firms’ resources being diverted away from tackling financial crime.

The FRO focuses on the risks arising from the events of the second half of 2007 and the less benign economic outlook expected over the next 18 months.

Having seen the bank's plundering of customers over more than a decade - questions should be asked - did my MP vote or do anything to make banks more accountable? Is my MP supporting bank plundering of consumers?

UK Parliament helps in researching what is happening in Government.

Many "sound" small firms could be bankrupt by Christmas because of the financial crisis, business bosses warn. We already know that to be factual - but forums and 'chatshops' won't stop it affecting your business. Where banking is concerned IBAS are more than just an extra 'pair of hands' and spend our time helping you and your business overcome business difficulties.

If you haven't heard of IBAS before today then it's natural you will want to know our 'pedigree' - you will find our national newspaper comments for 2008 here plus many more in the News and archives sections of our site - see our site map. IBAS has featured in BBC TV and ITV News items and programmes on banking and the banking issues many times since we were established in 1992.

Independent Banking Advisory Service (IBAS) is a national, independent, non-profit, unique specialist banking customer membership organization which resolves banking complaints and disputes and which has campaigned on UK Banking customer issues since 1992. We provide bank and banking assessment, analysis, bank comment and content for BBC TV News, ITV, Radio and national newspapers, keeping many serious banking issues 'alive' - see Bank News 2008