NOW LIVE

Fantastic news Bank Careers Direct has finally gone live and being showcased right now on the world wide web at bankcareersdirect.com.

Although the web site is now live the actually launch will be held in September.

For all the latest news headlines and current up to date information why not take a look at the unique and efficient recruitment site now, featuring over 8,000 job seekers already registered on line at bankcareersdirect.com

If you are a company looking for a dynamic and different way to fill your job vacancy's at a low cost rate of only 5% why not also check bank careers direct requiter enquiry, or feel free to Contact one of our specialist recruitment consultants on:

0845 643 1712

Moneyway take on board Bankcareersdirect.com

Bankcareersdirect.com is pleased to announce that moneyway is officially advertising there job position on bank careers direct.

Moneyway are the people who bring a friendly approach to helping with your money. We used to be called Secure Trust Bank plc. But we now have a new name and a new determination to make sorting your money matters so much easier. Moneyway's biggest asset is our people We're good to have on your side because we always put your needs first. That's what we do best - look after our customers. So we're introducing new benefits to existing products like One bill - our famous household bill payment solution.

You'll find smarter branches in the heart of your community. And more than ever, our friendly staff will aim to make everything hassle-free for you.You'll also discover we make it easy to find better value mortgage solutions and flexible personal loans And motor or home insurance. In fact, almost everything UK customers might need.So what makes us a little different?
Financial matters seem to get more confusing all the time. That's why you need someone on your side to help make it all easier to understand.That's where we come in. We're the friendly and helpful money experts.The reason we're different is we're not a giant stuffy bank. We're part of the local community. We call at your door. Or welcome you into local branches with a smile on our face. So although we're money specialists, we're the approachable specialists. Experts who keep everything simple.

We also try to be clear and straightforward when explaining things so that you always know where you stand. Which makes it easier to choose the best value solutions that make your money work harder.

Bank Careers Direct is now advertising Full time and part-time roles based in Solihull for more information why not visit bankcareersdirect.com right now!

today's quote of the day on bankcareersdirect.com

Quote of the Day

"I find friendship to be like old wine, raw when new, ripened with age, the true old man's milk and restorative cordial. "
Thomas Jefferson

The Benefit to Candidates

How does Bank Careers Direct benefit candidates?

Because Bank Careers Direct specialise in customer facing banking roles, candidates know they will get a responsive and specific service.


Candidates may telephone call Bank carers Direct, should they require any help or advice regarding any aspect of the application process

The job board is professional and informative and is dedicated SOLELY to Retail Banks and Building Societies.

· Candidates can apply on-line in the knowledge that their application (once screened by a bank careers direct consultant) will be delivered directly into the bank’s recruitment process for the job they are applying for.

· Bank Careers Direct can keep candidates informed via SMS and or email when suitable job roles come up.

· Candidates know that job vacancies are updated daily which means all opportunities are current and relevant. This encourages word of mouth communications within the ‘candidate market’ and high volumes of candidate ‘traffic’.

· The Bank Careers Direct website is fully optimised, easy to find and because it has been designed by a respected specialist on-line recruitment technology company it’s also extremely easy to use.

So what’s the next step?

In order to take advantage of this unique low cost, high quality recruitment service, register via our website at http://www.bankcareersdirect.com/index.asp or telephone 0845 643 1712

The Benefits of Bank Careers Direct

How does Bank Careers Direct benefit banks?


· Very low and industry leading recruitment fees payable only on the successful placement of the candidate, which means the total cost of recruitment is driven down.

· Low financial risk – Banks only pay a recruitment fee on the successful placement of a candidate. Therefore no money is wasted where candidate placements are unsuccessful.

· Control over the recruitment process – banks can easily and securely upload their job advertisements directly onto the Bank Careers Direct website free of charge and 24 hours a day.

· A ‘candidate friendly’ website that is continually search engine optimized; this means that the growing trend for applicants using the internet for their job search can find us and then apply for jobs with the minimum of fuss.

· There are no agencies advertising on the job board and they will not have access to our database; therefore you will not be competing against your own suppliers.

· All candidates have been screened which means you will only receive high quality CV’s.


Todays quote of the day to be found at Bankcareersdirect.com


Quote of the Day

"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement. "

Henry Ford

The most efficient and cost effective recruitment solution

Welcome to Bank Careers Direct the direct… efficient… unique…Bank Careers Direct is a specialist business that provides the country's most efficient and cost effective recruitment solution to the UK banking sector.

Our objective is to work with our banking clients to create the lowest cost and highest quality recruitment solutions ever.We specialise in advertising 'customer facing' banking roles only. This means we have a very specific understanding of the 'job market' and therefore a constant supply of jobs.Using this easy to navigate site, candidates apply directly to the bank. This means a speedy application process with no unnecessary intervention by a recruitment agency. Once you have searched and found a suitable position simply apply directly to the bank via this site.

If you cannot find the right position then let us work for you! Simply sign up for jobs by e-mail and we will bring the jobs to you.You may also Register for jobs by sms and be the first to apply for a new position.

HUGE LAUNCH FOR BANK CAREERS DIRECT

Only a few weeks now to the huge launch for bankcareersdirect.com.

The very Efficient company has been invented by a highly trained recruitment professional, Who has over twenty years experience within the Financial services and recruitment industry.

Together with a strong team assisting the development of bankcareersdirect.com It is set to hit the financial industry by Storm. bankcareersdirect.com is a professional and efficient job board created to help trained individuals with banking experience find and apply directly to the Major high street banks and smaller Building Society's. bankcareersdirect.com pride it's self on not only finding fantastic opportunities for people in the banking industry but also giving clients the opportunity to find the best employees for the job. With over ten thousand people already registered with bankcareersdirect.com the website is already in high demand.

A Recruitment solution

A recruitment solution for banks that is direct, efficient and unique….




Bank Careers Direct is a specialist business that provides the country’s most cost effective recruitment solution to the UK banking sector.
Our objective is to work with our banking clients to create the lowest cost and highest quality recruitment solutions ever.



Via a powerful yet easy to use website, Bank Careers Direct use modern technology to pro-actively market job roles to a carefully screened ‘pool’ of candidates. Our website is also ‘optimised’ to cater for the growing trend of candidates who look for banking roles via the internet.



‘Customer facing’ banking roles only…
Because Bank Careers Direct specialise in marketing just customer facing banking roles, our banking clients and candidates know they will get a specific service geared to providing quality results.



We ask you to trust in the country’s most cost effective recruitment solution to the UK banking sector.


Yours sincerely


Gary Pope
Director

Bank Careers Direct

Today's headline news at bankcareersdirect.com

Persimmon upbeat on house market

The government's housing drive may boost business, the firm says Persimmon, Britain's largest house builder, has unveiled a jump in profits and says it expects the housing market to remain robust.

Pre-tax profits for the six months to 30 June rose 9.8% to £281.1m as it racked up sales worth £1.51bn.
Looking ahead, forward sales for the second half stand at £1.35bn - about 85% of its full-year target.
Persimmon added that despite recent interest rate rises it still expected the housing market to remain strong.

The company added that despite the traditional summer lull, it believed the market would remain robust "as long as current assumptions on interest rates remain intact, and employment data continues to be supportive".
"This, coupled with general confidence in the housing market, should deliver the normal seasonal upturn in activity throughout the autumn selling period," it added.
Despite planning problems which have affected the industry as a whole, the firm said all of its divisions had experienced underlying price growth - albeit with some regional and local differences.

It also welcomed government plans to boost the country's housing stock, adding it had continued to increase its land bank providing a "strong platform" for the business.
Persimmon controlled 82,145 housing plots in the first six months of the year - up from 80,085 in December - as well as holding 22,000 acres of strategic land.


Quote of the Day, To be found at bankcareersdirect.com

"What lies behind us and what lies beneath us are tiny matters compared to what lies within us".

Ralph Waldo Emerson

Bank Careers Direct

Welcome to bank carrers direct the recruitment site with a difference!
At bankcareersdirect.com we only deal with jobs in banking. You can be sure to find at least one job that will interest you here at bankcareersdirect.com.

The lastest headline news

Global stocks boosted by Fed move

Japanese stocks had been hit hard in the recent slumpWorld stocks rose on Monday, regaining some ground after the US Federal Reserve cut a key bank lending rate.
London's FTSE 100 index was up 0.85% by 1050BST, Germany's Dax-30 added 0.6%, and France's Cac-40 gained 1.05%.
Earlier, Japan's Nikkei share index had closed 3% up, while Hong Kong's Hang Seng index ended 5.6%.
US and European markets had stabilised on Friday after the Fed cut the rate at which it lends to banks in an effort to stem the heavy losses in world markets.
The Nikkei had seen its biggest one-day fall in nearly six years on Friday, and other Asian markets had also slumped.

People still feel the market isn't really stable
Kingston Lin, Prudential Brokerage.
At Monday's close, the Nikkei was at 15,732.48 points, up 458.80 points, or 3%, from Friday.
South Korean shares also surged ahead, with its Composite Stock Price Index closing up 5.7% at 1,731.27, its biggest percentage gain in more than five years, according to the Korea Exchange.
Australian shares closed up 4.6% and Chinese stocks were ahead by 5.33%.
Financial stocks, which had been hardest hit in the recent sell-off, led the Asian rebound, pushing MSCI's index of Asian financial stocks up 5.3%.
India's benchmark share index opened 2.6% higher on Monday, tracking other Asian markets.

Caution
The recent market turmoil has been triggered by a wave of mortgage defaults in the US as the housing market slowed dramatically.
Markets across Europe and Asia were similarly buffeted on fears of a wider crisis in the financial system due to the huge liabilities of banks and other financial companies linked to the unstable sub-prime mortgage sector.
"Investor confidence has recovered a bit. Still, there are lingering worries over when the sub-prime crisis will actually end," said George Hsieh, who manages $545m for Capital Securities Investment Trust in Taiwan.

The Reserve Bank of Australia injected $2.67bn into the banking system to ward off pressure on some short-term market interest rates.
The Asian share gains were at levels last seen in April 2003, but some investors remained wary of the credit crisis.
"People still feel the market isn't really stable," said Kingston Lin, associate director at Prudential Brokerage.
"There's buying, but I think other people are selling into the rally. It's not safe to be aggressive."

For more news go to bankcareersdirect.com.

The inspirational quote of the day

"Watch your manner of speech if you wish to develop a peaceful state of mind. Start each day by affirming peaceful, contented and happy attitudes and your days will tend to be pleasant and successful"

Norman Vincent Peale

Bank Careers Direct

Bankcareersdirect.com is the new and highly efficient recruitment job site coming soon to the world wide web. Not only can you go onto bankcareers direct to find a job but you can also get some fantastic interview questions to help you through the job process for years to come.

Our comprehensive interview guide will give you the tools to ensure you get the job you deserve. Please spend time considering best interview practice - if you do, it will pay off!

There are 3 main areas to consider after you have decided to make a career move and are about to attend job interviews: To find out what these areas are visit bankcareersdirect.com which will be going live very soon.

Todays quote of the day at bank careers direct is:

"I like to listen. I have learned a great deal from listening carefully. Most people never listen. "

Ernest Hemingway

Your CV

Whether you are a school-leaver about to embark on your search for meaningful employment or an experienced professional facing a career crossroads, the whole recruitment process may well hinge on the quality and composition of your curriculum vitae (CV). To find help and get some great cv tips why not visit and register now completely free at bankcareersdirect.com


Today's headlines

UK pension funds hit by share dip

UK pension funds cannot escape global stock market problems UK pension funds have lost billions of pounds after stock markets tumbled amid credit crunch fears, reports suggest.
According to actuaries Aon Consulting, the UK's 200 biggest final salary pension schemes had a deficit of £26bn at the end of trading on Thursday.
And consultants Lane, Clark & Peacock (LCP) estimate that companies listed on the FTSE 100 stock index in London have a pensions shortfall of about £15bn.
That compares with surpluses of between £9bn and £12bn in July, the firms said.
Longer term
The worry for many analysts is that stock market declines will continue, wiping even more money off the value of pension funds and global stock markets.
However, Aon said that investors should not over-react to the decline in pension fund values.
Marcus Hurd, a senior consultant and actuary at Aon, urged investors to take a longer-term view, pointing out that at the start of 2007 the pension funds had a deficit of £40bn, while a year earlier it was more than £80bn.
"People shouldn't get too concerned about one week of falls," he said.
Even so, people who are close to retirement and not on a guaranteed benefit pension could feel the pinch as they do not have time to ride out the market volatility and make back losses, he explained.
Bob Scott, a partner at LCP, said that while the shift from surplus to deficit was significant, it was not "a case of the world ending".
And if anything, the current problems could act as a reminder for pension fund managers and trustees about the dangers that are inherent in investing too heavily in equities, he said.
Market wobbles
The recent slump in share prices was triggered by problems in the US mortgage market.
On Thursday, the UK's FTSE 100 index fell 4.1%, its worst session in more than four years.
Asian markets had heavy losses on Friday, and European markets had a shaky morning in trading.
At midday market indexes in London, Paris and Frankfurt were all in negative territory.

Find out about more news right now at bankcareersdirect.com

Bank Careers Direct

Current news today at bankcareersdirect.com


Discounts boost UK retail sales

Shoppers seemed undeterred by rising interest rates UK retail sales increased more than expected in July, helped by discounted goods, figures from the Office for National Statistics have shown.

Sales were up 0.7% month-on-month, marking the biggest rise since February, and more than three times above analysts' expectations of 0.2%.
Sales were up 4.4% on the same point a year earlier.
However, the underlying rate of growth in the three months to July fell to 1.1%, down from 1.4% in June.

Rate debate
Analysts said the stronger-than-expected monthly figures could restart the debate over whether there should be another rate rise to 6%.
The Bank of England has increased UK interest rates five times during the past year, taking them to 5.75%, and until the past few days it was expected to raise them once more before the end of the year.

But on Tuesday, a sharp fall in the rate of consumer prices index (CPI) inflation to 1.9% led many analysts to predict that there would be no rate rises in the short term.
The retail sales data showed that goods whose prices were reduced included furniture and electrical goods, helping raise the sale of household goods by 13.4% year-on-year - the largest rise in nearly six years.

Overall sales of non-food goods rose 7.1% on a year earlier, the highest rate for three years.
On the downside, the bad weather contributed to a drop in the sale of summer foods - with sales 0.8% lower than the level seen in July 2006.


Also Quote of the day at bank careers direct

"Speak the affirmative; emphasize your choice by utterly ignoring all that you reject"

Ralph Waldo Emerson

Bank Careers Direct

Bank careers direct is going live very soon don't miss out on this fantastic opportunity to find your perfect job online through our quick and efficient recruitment site.

news today at bank careers direct:


Bank voted 9-0 to hold UK rates

Will the Bank need to act again?Policymakers at the Bank of England voted unanimously to hold UK interest rates at 5.75% earlier this month, minutes from the meeting have shown.
The minutes said that most members "had no firm view" on whether rates would need to rise further to cool inflation.

Rates have risen five times in the past year and many analysts had expected them to reach 6% before too long.
But on Tuesday, news of a sharp fall in inflation in July raised hopes that no more rate increases would be needed.

Figures from the Office for National Statistics showed that consumer price index inflation fell to 1.9% in July, down from 2.4% in June.
It was the first time that CPI inflation had fallen below the government's 2% target since March 2006.
Change in mood
The Bank's rate-setting body - the Monetary Policy Committee (MPC) - said that the short-term outlook for inflation "was still clouded with uncertainty, particularly about the path of household goods, food and utility prices".
We remain of the view that the MPC is in wait-and-see mode
David Page, Investec

The committee noted that more effects were expected to come from the recent rises in oil prices, although some of the earlier increases have already fed through to retail prices.
Last week, in its latest Quarterly Inflation Report, the Bank had hinted that a further rise in UK rates to 6% might be needed to keep inflation under control.
However, the combination of Tuesday's inflation figures and the MPC minutes has led some analysts to suggest that there will be no rate rises in the short term.
"Very much as we expected, 9-0 is the first unanimous vote since May," said David Page at Investec.
"The key quote is that most had no firm view on whether rates would need to rise.
"We remain of the view that the MPC is in wait-and-see mode."

Also today's inspirational Quote of the day on bankcareersdirect.com

"Take the first step in faith. You don't have to see the whole staircase, just take the first step. "
Martin Luther King Jr

Bank Careers Direct

This week the final stages are coming together at bankcareersdirect.com.

Todays Quote of the day on bankcareersdirect.com is:

"Few men have virtue to withstand the highest bidder. "
George Washington

Also the lastest news can be found at bankcareersdirect.com, for all your up to date info visit now.


Blackstone warns of deal slowdown

Blackstone announced it was buying Hilton in JulyUS private equity giant Blackstone has warned that the tightening of the global credit market will make it more difficult to secure new takeovers.
In recent years, firms such as Blackstone have used cheap credit from banks to fund a takeover spree that has thrust their sector into the headlines.
But cheap credit is now harder to find because of weakness in the US sub-prime loans market and higher interest rates.
Blackstone added that its size made it best prepared to weather the storm.
Recent flotation
Its comments came as it reported that its net profits had more than tripled in the three months to the end of June.
The firm's second quarter net profit jumped to $774m (£387m) from $224m a year earlier, beating market expectations.
Its revenues also tripled to $973m from the year before, but missed market expectations of $992m.

The firm said it was now facing "more challenging financing conditions".
Blackstone's partial flotation in May raised the firm $4.13bn.
In July it announced that it was buying the global Hilton Hotels chain for $26bn.
The Chinese government owns a 10% stake in Blackstone.

Bank Careers Direct

Welcome to bankcareersdirect.com, the lastest banking news on monday 13/08/07

Global markets recover from falls

Analysts say they do not yet know the scale of the problemGlobal stock markets have recovered some ground from last week's sharp falls after central banks moved to ease fears of a worldwide credit crisis.

European markets rose in morning trade, although the European Central Bank still pumped an extra 48bn euros ($65bn; £32bn) into the banking system.
By late morning, London's FTSE 100 was up 100 points to 6,138, while Germany's Dax had added 52 points to 7,395.

Credit concerns have been sparked by weakness in the US mortgage market.
Earlier on Monday, Asian markets saw modest rises, with Japan's main Nikkei index closing up 36 points at 16,800 and the Australian All Ordinaries index ending up 62.3 points at 6,027.5.
Sub-prime woes

The downturn is centred on the so-called sub-prime mortgage sector, which offers higher-interest, higher-risk loans to people with a poor credit history or those on low incomes.
If there is one thing that the markets hate, it is uncertainty
Gilles Moec, Bank of America
As US interest rates have risen and the housing bubble has burst, a growing number of sub-prime lenders have defaulted on their loans.
This has caused extensive financial difficulties for a number of investment funds that have widespread exposure to the sector, triggering fears of a wider financial crisis.
While some estimates say about $300bn (£148bn) in loans could be at risk, one of the biggest worries for investors is not knowing the eventual scale of the problem.
"The big question is what is the overall amount [of loans at risk], and this is bad for the markets because if there is one thing that the markets hate, it is uncertainty," said Gilles Moec, senior economist at Bank of America.

Over the weekend several banks started to put a figure on the amount of bad debt they own, including German state bank WestLB which said it had 1.25bn euros in total exposure to the US sub-prime sector.
Banking moves
To try to ease fears over available credit, several central banks have intervened by injecting money into the banking sector.
The European Central Bank (ECB) was the first to make the move - releasing 95bn euros on Thursday, before injecting another 61bn euros a day later, and now an extra 48bn euros.
Japan's central bank injected an initial one trillion yen ($8.5bn; £4.2bn) into the financial system last week, before adding an additional 600bn yen on Monday.
Most importantly, the US Federal Reserve intervened twice on Friday, pumping $38bn into the banking system.
But while some said it made sense, other feared it only made markets more nervous.
"The ECB was correct to shore up banks balance sheets by providing more liquidity," said Peter Morici, professor at the University of Maryland School of Business.
"But its high-profile tender offer did more to scare markets than calm them."
Other analysts said it did not solve the underlying weakness in the US mortgage sector.
"It's certainly very reassuring that central banks are providing liquidity, but that doesn't repair or make go away any losses that funds have experienced from the sub-prime sector," said Guy Hutchings, chief investment officer at MFS Investment Management.

For more news visit bankcareersdirect.com the online recruitment site.

Todays quote of the day on bankcareersdirect.com

"Flying might not be all plain sailing, but the fun of it is worth the price."
Amelia Earhart

Bank Careers Direct

The new online Recruitment site coming soon!

Bank Careers Direct is a specialist business that provides the country's most efficient and cost effective recruitment solution to the UK banking sector. Our site is extremely easy to navigate around and candidates can simply apply directly to the bank. This means a speedy application process with no unnecessary intervention by a recruitment agency.

Candidates just simply register, login and find there perfect job awaiting them on bankcareersdirect.com. Together with zero1 design a highly recognised web design company, bankcareersdirect.com boost some of the most easiest ways to find a perfect job online. Our site has job search options which can find you a job by either location or by allocating a job type. Bank Careers Direct is not only finding you the right job it will also help you through the interview process with guide lines to follow and tips from highly skilled recruitment specialists.

Todays headlines on Bankcareersdirect.com

World shares fall on credit fears

Analysts say markets will remain volatile in the near futureMarkets have fallen sharply again in Friday trading, a day after markets in the US and Europe suffered heavy losses amid fears of a global credit crunch.
Billions of dollars were wiped off share values, affecting businesses and individual investors alike.

Shortly after opening the Dow Jones share index in New York was down 124.8 points, or 0.94%, at 13,145.9 points.
In morning trade, the London share index fell 3.1%, the Paris index was down 3% and German shares fell 1.6%.
Analysts say the crisis could make it harder for banks, firms and consumers to get access to loans and cash.
If this persists, it could lead to a global recession.
Cash injections
Global markets have been rattled by worries over financial institutions' exposure to bad credit in the US sub-prime mortgage market.
Sub-prime lenders offer loans to consumers with a poor credit history.
Investors have bought the financial equivalent of poisoned mutton dressed as prime lamb

As a result of these problems, banks have suddenly started charging significantly more for the money they lend to each other, signalling that they are looking to limit their risks.
For their part, central banks around the world have moved to prop up markets by lending money to banks who might be in trouble.
The European Central Bank injected cash into the money market for a second day, as did other central banks worldwide.

Analysts say markets will remain volatile in the near future
The ECB move was to "assure orderly conditions in the euro money markets".
The bank injected 61.05 bn euros (£41.65bn; $84.2bn) into the eurozone money markets on Friday.
Japan's central bank had earlier pumped one trillion yen ($8.5bn; £4.2bn) into the financial system to boost liquidity.
Asian jitters
The jitters come a day after the FTSE closed down nearly 2%, and following a fall of close to 3% on the Dow Jones index in New York.
At close of trade in Japan, the Nikkei share index was down 2.4%, at 16,764.1.
Many more financial institutions may come out in the future to say they have been making losses on the back of the sub-prime problems.

In Hong Kong, the Hang Seng index ended the day down 2.88% at 21,799.96, after trade was suspended early because of a tropical cyclone warning.
South Korea's central bank said it would also intervene if necessary in financial markets to counter the international turmoil.

The Reserve Bank of Australia on Friday added more than twice the usual amount of money into the banking system, injecting A$4.95bn ($4.19bn; £2.08bn) in its regular morning money market operation.
Central banks in Malaysia, Indonesia and the Philippines intervened to sell dollars to support their currencies.
Housing market wobble
BNP Paribas announced on Thursday that it was suspending three investment funds worth 2bn euros because of problems with the US sub-prime mortgage sector.
We've got blind panic... and obviously a complete lack of confidence
Tony Craze, Dawntrader.co.uk

In recent months, the number of loan defaults has increased because of higher interest rates, raising concerns that the wobble in the housing market will affect other parts of the economy and then start hurting other nations.
The worry is that should banks make losses, it would hurt their earnings and their profitability, making them less willing to fund the takeovers and buyouts that have underpinned much of the stock markets' recent gains.
The recent collapse of American Home Mortgage, the 10th largest lender in the US, has intensified those concerns.
The declines in the US markets came despite attempts by President George W Bush to calm market fears.

ECB moves to help banking sector

BNP Paribas is one of several banks to suffer from sub-prime woes The European Central Bank (ECB) has pumped 95bn euros (£63bn) into the eurozone banking market to allay fears about a sub-prime credit crunch.
The ECB made the money available in the form of loans, an offer taken up by 49 banks and other financial institutions.
This came after French bank BNP Paribas suspended three investment funds worth 2bn euros (£1.35bn), citing problems in the US sub-prime mortgage sector.
It said it was "impossible to value certain assets" in an uncertain market.
Confidence measure

US lenders have suffered a sharp rise in defaults on higher-risk mortgages and it is feared that the financial repercussions of this slump could soon spread to Europe.
The ECB described the move as a "fine-tuning operation" for the banking market, but it represents the bank's single largest intervention in the banking sector since the immediate aftermath of the 9/11 attacks on the US in 2001.
"The longer-term fear is that these liquidity issues could spill into the wider economy," Ciaran O'Hagan, a Societe Generale analyst, told Dow Jones Newswires.
"The prompt intervention of central banks puts off the day of reckoning."
The three funds BNP Paribas has suspended are Parvest Dynamic ABS, BNP Paribas ABS Euribor and BNP Paribas ABS Eonia.
BNP Paribas said the valuation of the suspended funds would resume "as soon as liquidity returns to the market".
Other banks have also suspended funds with sub-prime investments.
"The complete evaporation of liquidity in certain market segments of the US securitization market has made it impossible to value certain assets fairly regardless of their quality or credit rating,"' BNP Paribas said in the statement.
Defaults on the loans, which are aimed at those on low incomes or with a poor credit rating, have risen as interest rates charged on the loans have risen.
News of the move sent BNP Paribas shares down some 4.5% in Paris.
Bank losses

Also on Thursday, Dutch bank NIBC announced losses of 137m euros from asset-backed securities in the first half of this year.
The bank said "severe instability in the US credit fixed income markets" had been a factor behind the fall.
In June, US bank Bear Stearns had to spend $1.6bn to bail out two hedge funds, which had a strong focus on sub-prime loans.
The bank had invested heavily on securities that were backed by sub-prime mortgages.

C&G announces 31 branches to shut

The firm was among the UK's biggest building societiesFinance firm C&G has said that it is to close 31 branches across the UK, resulting in the loss of 315 jobs.
C&G, formerly known as the Cheltenham and Gloucester Building Society, said that internet banking meant fewer customers were using some branches.
The firm, which has 195 outlets, is owned by Lloyds TSB.
C&G said that most customers who lost their local branch would find another outlet in a neighbouring town and could also use Lloyds branches.
"Closing branches is never a decision that we take lightly," said C&G's managing director Jon Pain.
"But with more customers taking advantage of technology, the number of customers coming through the doors in these particular branches has fallen.
"By closing these branches where customer use has dropped, we can invest in the branches that customers do use."
C&G focuses on providing mortgages, savings and other financial products.

Also Todays quote of the day on bankcareersdirect.com

"I want it said of me by those who knew me best, that I always plucked a thistle
and planted a flower where I thought a flower would grow."

Abraham Lincoln

Bank Careers Direct

Welcome to Bank Careers Direct

The Latest Banking news so far on bankcareersdirect.com is:

The Co-op has announced that 1,000 jobs are to be lost in its financial services sector in the North West.

Also UK bank and building society mergers don't benefit their customers, according to a new study. The analysis of UK bank and building society mergers by the ESRC Centre for Competition Policy at the University of East Anglia - using data from Moneyfacts, the financial information provider - found that although these mergers have generated substantial efficiencies for the banks concerned these benefits haven't been passed on to customers.
The study found that while most merging institutions have benefited from mergers, interest rates for the bulk of banking customers remain unchanged. Indeed, savers who hold notice saving accounts with merging banks and building societies have suffered a decline in interest rates up to six years after a merger takes place.

Dr John Ashton and Dr Khac Pham examined 61 UK bank mergers occurring between 1988 and 2004. For each of these mergers, efficiency changes were recorded for individual banks and interest rate movements were recorded for savings accounts, mortgages and personal loans.
They found that merging banks improve their levels of efficiency up to six years after a merger, indicating that merging banks and building societies can provide banking services to their customers at a lower cost.

By contrast, in most cases the levels of interest paid to, or demanded from, customers, shows no significant difference to the interest rates provided by banks and building societies, which have not merged.
Of greater concern, customers holding notice savings accounts with merging banks have suffered a significant decline in interest rates relative to customers of banks and building societies which have not merged.
Commenting on the findings Dr Ashton said: "Retail banking customers gain little from bank mergers and in some cases can lose out from mergers. Consequently, the consumer perspective must be given more consideration when assessing the merits of future potential mergers."
The findings indicate that while banks have obviously made beneficial merger decisions, these benefits are not shared with their savings, personal loan and mortgage customers. In some cases, such as notice saving accounts, mergers have actually led to worse interest rates for customers.

Homeloan adds 425 jobs in latest boost for city's economy

GLASGOW yesterday received another economic boost with the announcement that 425 new financial services jobs are being created in the city by Homeloan Management.
HML, a subsidiary of Skipton Building Society, is a mortgage administration company which has been awarded a Scottish government grant of £1.6 million in Regional Selective Assistance to support its expansion plans.

Fixed-rate mortgages getting cheaper

The price of fixed rate mortgages is finally starting to fall following months of soaring rates.
It is great news for anyone needing the security of fixed monthly payments, though experts claim prices could rise again if base rates climb from 5.75% to 6% later this year, as expected.

Woolwich has replaced its 6.19% fix until September 30, 2009, plus £995 fee, with a rate of 5.89% and the same fee. Monthly payments on a £130,000 mortgage will be £23 lower on the new product.

Halifax has cut the cost of its 6.09% fix until November 2009 to 5.89%, with the same £1,499 fee. However, you need a large deposit with both deals.

Cheshire Building Society offers the best two-year fix, according to broker Savills Private Finance. It has a 5.69% deal with an £899 fee. On a £130,000 mortgage, that will cost £20,414 over the term.
Manchester Building Society has a fix for any length up to 30 years at 5.99%, only available through broker London & Country. Unlike most long-term fixes, you can get out at any time without paying an early redemption charge. However, it has a high 2% fee.
Brokers claim trackers still offer good value, because many economists predict we are near the top of the rate cycle so your payments could drop next year. However, trackers are suitable only for those able to absorb further base rate rises.

Direct Line has an online-only two-year tracker at 0.28% below base, currently 5.47%, with a £599 fee. That will cost £19,618 over two years on a £130,000 mortgage, assuming base rate remains static.

Bank Careers Direct

Bank Careers Direct has decided to place Inspirational and motivational Quotes of the day for its customers to view on site right now. If your Having a hectic day and need some motivation see what some of the greats had to say i.e Abraham Lincoln.

Today's Quote of the day on bankcareersdirect.com is:

"Always bear in mind, that your own resolution to succeed is more important than any other thing. "

Abraham Lincoln.

Monthly Bank Charges Not Wanted!

Bank customers do not want monthly account fees even if meant the end of penalty charges, a survey suggests.
The High Court is due to decide in a test case whether the level of penalty charges made by banks is lawful.
If it rules against them, they may try to recoup money with monthly fees or by charging for each transaction.

A YouGov survey of 2,116 people for website moneysupermarket.com suggested just 8% wanted a regular fee with 1% wanting a charge for each transaction.
At the moment, people can be charged as much as £35 for going overdrawn without authorisation or for having a direct debit refused.

The Office of Fair Trading (OFT) is investigating the current penalty charges system.
Pay-per-transaction system
Some experts suggest that the money from these charges essentially subsidised the accounts of people who did not incur them.

We have already seen some providers abandon the concept of free banking by steadily introducing a bevy of charges on their less profitable customers
Kevin Mountfordmoneysupermarket.com
Kevin Mountford, head of current accounts at moneysupermarket.com, said free banking was possible "largely because of the number of people who are hit with fees and charges".
If this was outlawed, a pay-per-transaction system - as used in many other countries - could become a reality for the UK.
"We could well see the system prevalent in Western Europe, North America and Australia, where there are a certain number of free transactions and then you pay for any additional ones," he said.
"We have already seen some providers abandon the concept of free banking by steadily introducing a bevy of charges on their less profitable customers."

The introduction of such transaction charges could lead to a change in the spending habits of people used to making cash withdrawals or multiple card transactions, he added.
These people were likely to make efforts to reduce costs, he added.

Find out more today from bankcareersdirect.com the country's most efficient and cost effective recruitment solution to the UK banking sector.

COMING SOON!

THE COUNT DOWN BEGINS!

News from HSBC on Pay cuts!
PAY 2007 FOR CLERICAL STAFF IN HSBC


At the time of exercising our right to re-open
talk’s inflation was sitting at 3.9% and projected
to rise over 4%. This was way above the 2.5%
accepted at the time the 3 Year deal was put in
place. We finally met with the Bank last month
and had protracted and somewhat difficult
negotiations with the Bank.

Pay talks took place this year against a
background of staff coping with understaffing,
stretching targets and ongoing restructuring
programme and continuing globalisation of jobs.
The end of year financial result for the UK in
HSBC will demonstrate that the hard work of all
Staff is paying off, with the Bank showing a
massive increase in profits. We would expect the
bank to reflect this by rewarding its staff
accordingly.

Amicus made very strong representations to the
Bank over the necessity to increase the pay pot,
we also submitted a claim to remove Band A as it
was sitting just above the National Minimum
Wage.

The Bank also stated that any movement in the
market was having no overall impact on their
ability to recruit and retain staff on their current
salary rate. We also requested that the Bank look
at changing some of the Bands. As the market
data we had available was telling us that there
was a significant movement in the Market they
agreed to look at this.

Also this week in the Banking Industry:

Banks reject solution to branch closures
The British Bankers Association (ABI) has vetoed, on behalf of major high street banks, a proposal from the Campaign for Community Banking Services (CCBS) to ensure communities have access to local banks. The CCBS, to which Amicus is affiliated, put forward a study which would have ensured local access to banking services for millions and protected the 1500 communities currently at risk of bank closures. The plan has worked successfully in the US and has been demonstrated to be financially viable.

The CCBS expressed disappointment at the BBA's response. Hon Director of CCBS, Derek French said; "We can now look forward to the loss of many more local bank branches, and the knock-on effect that will close other community retail services, without any suitable alternative in place. The banking industry has turned its back on a profitable solution to the problem through sheer narrow mindedness".

The CCBS is a coalition to campaign against branch closures:

Nearly 6000 bank branches have closed since 1990, leaving some 1000 communities bankless.

1087 communities have only one bank.

545 only have two remaining.


Abbey cuts 1,000 more jobs

Personnel Today has reported that Banco Santander, the new Spanish owners of Abbey, will cut 4,00 jobs. This is roughly 1,000 more then previously anticipated.

The bank said that 1,000 jobs have already been lost and the remaining job losses would be mainly back office.

Sainsbury's job losses

Managers of the struggling banking section of Sainsbury's have written to all 350 employees of Sainsbury's Bank warning them that their jobs are at risk. This move comes one week after 600 posts were lost in Holborn, London.

Sainsbury's Bank, a joint venture with HBOS, has had a poor six months, forcing the group to admit that income growth has been below expectations for the past two quarters.

For more news visit Bankcareersdirect.com.