About Commercial Bank
A commercial bank is a type of bank that provides services such as accepting deposits, making business loans, and offering basic investment products that is operated as a business for profit.
How Ghana's central bank lost $5bn in one year
... It is not a Commercial Bank that has to make a profit, so the loss should not affect its routine operations and as the lender of last resort it can always create its own money...
Sudan crisis: Mediators over a barrel in mission to end fighting
... With the central bank burned and local Commercial Bank branches closed, some people rely on mobile phone banking services...
SVB and Signature Bank: How bad is US banking crisis and what does it mean?
... SVB and Signature had a different set of customers: SVB catered largely for start-up tech firms, while Signature Bank was a Commercial Bank focusing on corporate customers...
Rishi Sunak accused of wasting £11bn servicing government debt
... When those investors put the proceeds in Commercial Bank deposits at the Bank, it had to pay interest at its official interest rate...
Fight for payment of UK pensions lost in Yemen warzone
... The British Arab Commercial Bank, based in the UK, had been facilitating the payments but notified the National Bank it would be closing its account as the war developed...
RBS slumps to loss after £900m hit from PPI
... The core retail and Commercial Bank continues to perform well and we are making good progress against our targets for the year, she said...
Why Starbucks? The brands attacked in Hong Kong
... of The Shanghai Commercial Bank is not mainland-owned but - despite its name - with its headquarters in Hong Kong...
Rishi Sunak accused of wasting £11bn servicing government debt
Rishi Sunak has been accused of failing to act soon enough to save £11bn of taxpayers' money that has been used to pay interest on Government Debt .
The National Institute of Economic and Social Research (NIESR) Said the losses stemmed from the chancellor's failure to insure against interest rate rises.
It meant higher than necessary payments on £900bn of reserves created through the quantitative easing (QE) programme.
The Treasury Said it has " a clear financing strategy" on debt.
The NIESR's Professor Jagjit Chadha , that Mr Sunak's actions had left the country with " an enormous bill and heavy continuing exposure to interest rate risk".
According to the FT report, The Bank of England (BoE) created £895bn of money through quantitative easing, most of which was used to buy government bonds from pension funds and other investors.
When those investors put the proceeds in Commercial Bank deposits at The Bank , it had to pay interest at its official interest rate.
Last Year , when the official rate was still 0. 1%, the NIESR - an economic research group - Said the government should have insured the cost of servicing this debt against The Risk of rising interest rates.
It suggested converting The Debt into government bonds with longer to pay it back.
Prof Chadha Said Mr Sunak's failure to do this had cost taxpayers £11bn.
" It would have been much better to have reduced the scale of short-term liabilities earlier, as we argued for some time, and to exploit the benefits of longer-term debt issuance, " he told the FT.
'Fast and loose'Labour's shadow treasury minister Tulip Siddiq Said : " These are astronomical sums for the chancellor to lose, and leaves Working People picking up the cheque for his severe wastefulness while he hikes their taxes in The Middle of a cost-of-living crisis.
" This government has played fast and loose with taxpayers' money. Britain deserves a government that respects public money and delivers for people across the country. "
A Treasury spokesman Said : " There are long-standing arrangements around the asset purchase facility - to date £120bn has been transferred to Hm Treasury and used to reduce our debt, but we have always been aware that at some point the direction of those payments may need to reverse.
" We have a clear financing strategy to meet the government's funding needs, which we set independently of The Bank of England's Monetary Policy decisions.
" It is for the [Bank's] Monetary Policy Committee to take decisions on quantitative easing operations to meet the objectives in their remit, and we remain fully committed to their independence. "
Source of news: bbc.com
Commercial bank Photos
