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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.

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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.

Sale of 35% stake in TSB nets £455m for Lloyds

Lloyds Banking Group's sale of a 35% stake in TSB will net the taxpayer-backed bank £455m.

The Initial Public Offering (IPO) will see 30% of the stock allocated to around 60,000 ordinary retail ivestors as TSB returns to the market as an independent company for the first time since its 1995 merger with Lloyds.

TSB is currently the seventh biggest UK retail bank with 631 branches and the IPO valued its shares at 260p each, giving the company an overall value of £1.3bn.

Lloyds increases sale of TSB shares after strong demand

Lloyds Bank has increased the number of shares it is selling in TSB as a result of strong demand from investors.

The bank, a quarter of which is owned by the taxpayer, had initially decided to sell a 25% stake in TSB but has now upped the proportion to 35%.

TSB has been valued at £1.3bn. Credit: Nick Ansell/PA Wire/Press Association Images

The shares have been priced at 260p each, giving TSB a market value of £1.3bn.

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Lambert defends banking watchdog's lack of powers

The founder of the new banking watchdog has defended it against claims of being ineffective due to its lack of enforcement powers.

Sir Richard Lambert told ITV News the Banking Standards Review Council (BSRC) is "not a regulatory body" but will work alongside the "significant new legislation" that is cracking down on banking misconduct.

Sir Richard, the BSRC's interim chairman, said the body will work with banks to "track and report" their commitments to "good practice".

New watchdog to 'complement' banking regulators

The new banking watchdog will "complement the work of the regulators" in the sector but not look to "duplicate" their actions, founder and interim chairman Sir Richard Lambert has said.

After announcing his recommendations for the Banking Standards Review Council, he tweeted:

CBI hails banking watchdog as 'sensible way forward'

The UK's leading business lobby group has praised the recommendations on UK banking standards by Sir Richard Lambert, which aim for continuous improvement and transparency in the sector, as a "sensible way forward".

Katja Hall, chief policy director of the CBI, said:

With the political and regulatory spotlight now firmly on conduct, a swift and positive response from the banks to these proposals, combined with changes already underway, should help to rebuild trust in this important sector over time.

In addition, with more new players entering the banking sector, and competition hotting up, good customer relationships are a real competitive advantage for banks.

Interim chairman lists aims of new banking watchdog

The founder and interim chairman of the Banking Standards Review Council, Sir Richard Lambert, has outlined the main objectives of the new watchdog body.

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