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Introducing the LemonFools Personal Finance Calculators

Co-op Bank

Lemon Quarter
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Re: Co-op Bank


Postby hiriskpaul » November 8th, 2016, 6:34 pm

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Joined: November 4th, 2016, 5:16 pm

Re: Co-op Bank


Postby Retiree01 » November 9th, 2016, 10:17 am

Hirisk: You need to subscribe to Fitch (free) - it is on their ratings announcement page, dated 8 Nov. I couldn't get their search facility to work, so had to go to the ratings announcements page and hunt for it there.

Good luck!

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Re: Co-op Bank


Postby Wizard » November 9th, 2016, 5:52 pm

Surerera wrote:Found this conversation on Twitter between Mark Taber, Loglorry and WShak ... 059584?p=v

Not encouraging reading from 3 smart posters so I'll give the senior a wide berth.


Does this Twitter chat suggest they will not be migrating over to the LemonFool? As far as I can see none of them are registered here yet. I for one would miss their thoughts, even though WShak has not been prolific of late.


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Re: Co-op Bank


Postby Holts » November 11th, 2016, 4:09 pm

from today's trading update

Regulatory and capital update
§ The Bank's Common Equity Tier 1 (CET1) ratio stood at 12.6% at 30 September 2016 (13.4% at 30 June 2016).
§ Total Bank RWAs reduced to £7.1bn at 30 September 2016 from £7.2bn at 30 June 2016.
§ As noted previously, under the PRA rulebook, not meeting the Combined Buffer prevents the Bank from paying variable remuneration during the period of non-compliance. At the half year, to accommodate this, the Bank changed its remuneration structure for the majority of employees. Arrangements for more senior staff are close to being finalised.
§ The PRA has notified the Bank of its new Individual Capital Guidance (ICG), which became effective as of 1 November 2016. As at 30 September 2016, the Bank's new Pillar 2A was equivalent to 14.1% of RWAs.
§ The Bank has reviewed the terms and conditions for the Term Funding Scheme (TFS) and, although the Bank believes it would be eligible access to the scheme, it would not be on commercially beneficial terms. As a result, the Bank has not currently made a formal application to access TFS. The Bank continues to maintain adequate liquidity in excess of the regulatory minimum and has only limited wholesale funding maturities in the next 18 months.
§ The Bank of England's approach to setting a minimum requirement for own funds and eligible liabilities (MREL) was published on 8 November 2016. The Bank's previous guidance on MREL remains unchanged at this time.

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Re: Co-op Bank


Postby Retiree01 » November 11th, 2016, 10:08 pm

Q3 update also contained the following negatives:

The Core Bank recorded a small operating loss in Q3 2016.

The Bank’s migration of the majority of its mainframe-based core banking systems has been
rescheduled from mid-November to Q1 2017 to allow the remediation of the results of system testing.
This delay will lead to additional programme costs.

There remains risk to the costs of the project portfolio in 2016. The Bank has further reprioritised the
rest of the project portfolio and the focus will be on projects that are essential for regulatory reasons and
on those which will provide greatest value to the Bank.

Not catastrophic, but not good news either. Looks like Waterloo, but where is Marshall Blucher?

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