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R B S To Post Largest Loss In History Of Banking

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http://www.telegraph.co.uk/money/main.jhtm...04/cnrbs104.xml

Royal Bank of Scotland to post record loss
By Philip Aldrick
Last Updated: 6:33am BST 04/08/2008
Royal Bank of Scotland will this week post the biggest loss in British banking history when it reveals that the £5.9bn of writedowns taken against its "toxic" credit market assets have pushed it about £1.3bn into the red for the six months to June, compared with £5bn profit last year.
Questions will be raised about Barclays' credit market impairments when RBS's closest rival reports half-year numbers on Thursday. Barclays is expected to take another £500m of provisions, net of any gains on its own debt, on top of the £1bn already disclosed this year and £1.6bn taken last year.

ROYAL BK SCOTL GR (LSE:RBS.L)

Last Trade: 215.50 p

Trade Time: 8:29AM

Change: 0.25 (0.12%)

Up up up! Tis the silly season for sure. Perhaps they think there will be a bid from someone foolish enough to take on toxic debt by the shedload?

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http://www.telegraph.co.uk/money/main.jhtm...04/cnrbs104.xml
Royal Bank of Scotland to post record loss
By Philip Aldrick
Last Updated: 6:33am BST 04/08/2008
Royal Bank of Scotland will this week post the biggest loss in British banking history when it reveals that the £5.9bn of writedowns taken against its "toxic" credit market assets have pushed it about £1.3bn into the red for the six months to June, compared with £5bn profit last year.
Questions will be raised about Barclays' credit market impairments when RBS's closest rival reports half-year numbers on Thursday. Barclays is expected to take another £500m of provisions, net of any gains on its own debt, on top of the £1bn already disclosed this year and £1.6bn taken last year.

ROYAL BK SCOTL GR (LSE:RBS.L)

Last Trade: 215.50 p

Trade Time: 8:29AM

Change: 0.25 (0.12%)

Up up up! Tis the silly season for sure. Perhaps they think there will be a bid from someone foolish enough to take on toxic debt by the shedload?

one would almost think this "news" had been priced in for the last xx months

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HSBC will set the trend today, when it discloses another $2bn-$3bn (£1bn-£1.5bn) of credit market provisions in its global markets business for the half. The bank will also reveal another $4bn of bad debts for the second quarter in its US retail business, HFC
.

It seems to be policy to let the bad news out in little tranches each reporting session. IMO, the total loss will be around £2TR* based on a very rough and ready estimate drawn from the ONS report several months ago that claimed UK PLC was "worth" just over 8TR pounds of which 60% was house price "values." Drop houses 50% and you see the size of the hole in the credit market. £2TR will evaporate in the crash and the banks will have to create even more "creative instruments" to hide the losses--or go bankrupt.

_________________

* Two thousand billion, or £2,000,000,000,000,000.00 (or a sum representing the size of the average mortgage had Gordon managed to keep his HPI bubble going for another decade!)

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its not really the silly season RB<all depends what people were expecting and whst in the price.

How much is priced in for the next report and when is it?

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The b*llsh1t just keeps pilling up.

How long before these guys are technically insolvent?

Right now, if anyone did come out and admit it, their share price would probably skyrocket.

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Results on Friday. Reuters poll is suggesting loss of £1.2bn.

Thanks, but I meant the NEXT lot of results.

one would think they would be pricing THOSE in at the moment, unless they are a year away.

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Jesus H Christ, RB.

+0.12% is hardly "Up Up Up".

Considering that the shareprice has fallen something like 60-70% over the last year, don't you think this is a case of confirmation of what the market was expecting?

Nothing to see here. Move along.

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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