ASB reforms run into mounting opposition

Article Abstract:

The City financial and commercial institutions have just realised the full implications of the new accounting rules from the Accounting Standards Board. The new rules will make considerable impact on balance sheets and company profits as securitised assets will have to be shown on them to present a proper picture. The new change is to prevent corporate debt being assigned to small print to accounts, however a new European Community directive may stamp out securitisation anyway.

Asset-backed securities, Asset backed securities

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The bank that wants to be just like Coca-Cola

Article Abstract:

The most successful companies are those which create value for shareholders, establish a very strong pool of managers and focus on employee relations and customer satisfaction, according to Sir Brian Pitman, chairman of Lloyds TSB. This bank is already widely admired in the banking industry, and is seen as the UK's most successful retail financial services operation. It has been particularly successful in gaining market share in high street banking and insurance and mortgages.

Banking industry, Officials and employees, Lloyds TSB Group PLC, Interview, Pitman, Brian

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Return to surplus not expected for at least five years

Article Abstract:

The Treasury forecasts a PSBR of 4.5% of GPD in the financial year 1992/3, down to 2.5% 1995/6 and to 0.75% in 1996/7. Return to surplus will not happen during the life of the government. Independent forecasters had expected British growth to be low for several years because of membership of the ERM. The markets expected a lower PSBR than the Chancellor announced. Receipts from taxes have been less than predicted.

Economic forecasting, United Kingdom. Treasury

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