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Barclays sets aside extra £600m for PPI claims in Q3

Barclays. Credit: PA Wire

Barclays has set aside an extra £600 million to meet compensations claims for the mis-selling of payment protection insurance (PPI) in the third quarter.

The sum brings the total provision over the past two quarters alone to £1 billion, after £400 million was set aside in the second quarter.

The banking industry's PPI bill already stands at more than £30 billion.

Chief executive Jes Staley said the bank is still focused on selling down and disposing its hinterland businesses to concentrate on UK and US operations.

"The growing momentum in attaining our strategic goals means we can feel optimistic of our prospects of completing the restructuring," he added.

On Wednesday, Lloyds Banking Group announced that it set aside a further £1 billion to fund compensation claims for the mis-selling of PPI.

The partly state-owned lender said it has also accounted for a further £150 million to meet other conduct issues, including £100 million relating to packaged bank accounts.

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RBS blame 'cyber attack' for banking glitch

A fault which left RBS and NatWest customers unable to login to their online banking yesterday has been blamed on a 'cyber attack'.

The banking glitch meant customers could not access their online accounts for 50 minutes Credit: Yui Mok/PA

A spokesman for the bank said: "The issues that some customers experienced accessing online banking on Friday was due to a surge in internet traffic deliberately directed at the website.

"This deliberate surge of traffic is commonly known as a distributed denial of service (DDoS) attack. At no time was there any risk to customers."

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NatWest and RBS customers 'unable to withdraw cash'

NatWest and RBS customers have been unable to withdraw cash from other than the banks' own cash machines, the bank said.

Customers have taken to Twitter to complain about the problem.

RBS' spokeswoman Nicky Harris said customers should be able to withdraw cash from RBS and NatWest ATMs, but that they are experiencing problems while using other banks' machines.

NatWest customers 'can't withdraw money from ATMs'

NatWest bank customers have taken to social media to complain about being unable to withdraw money from their accounts. Many have voiced their frustration on Twitter.

A spokesperson said the bank is investigating the issue.

Bank of England plan to 'claw back bankers' bonuses'

Misbehaving bankers could be forced to repay bonuses from previous years under plans set to be unveiled by the Bank of England, according to the BBC.

Bankers in London's financial hub could have to repay bonuses from previous years. Credit: Chris Radburn for Glasgow 2014

It could mean bonuses paid out as long as seven years ago being returned, even if they were paid in shares and have already been cashed and spent.

The BoE had already warned in March that bankers could face clawbacks for "misbehaviour", including if their bank registered big losses.

Reports at the time suggested bonuses from up to six years ago would be at risk, though that appears to have been extended to seven years.

Another previous suggestion had been to cancel promised bonuses, but the Bank's position appears to have hardened.

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