Good Morning to you all. I must admit to being slightly nervous at doing my first blog – unlike Raymond and Michael I am not one for long rants. Anyway it is a privilege and a pleasure to do my first blog to all you good folks who are studying on our courses.
I feel that I must start with an apology to you all, for having to suffer the Browney and Downey show. I do take full responsibility for employing them both, but you should all be thankful that you only have to suffer their blogging.
They really are a pair of clowns but in saying that they do put their clownish behaviour to very good use. If you have yet to attend an introductory course or a revision course I would recommend that you do. Both Raymond and Michael are excellent communicators and presenters and I can assure you, that not only will you learn a lot, but you will really enjoy the experience. We are lucky to have such gifted class room presenters and we constantly receive excellent feedback from those who attend classes.
Being a qualified teacher (with merit in the practice of teaching) I thought I was reasonably good at teaching but I am not a patch on these two. Sitting in some of their sessions makes me feel a bit inferior and if there is any presenting to be done they are at the top of the queue to do it. So get yourself along to one of their sessions, you will learn a lot and enjoy the experience.
We are blessed in the Institute with a really good team and reference has been made in earlier blogs to young Peter who runs our examinations. Some of you may remember Peter from his days at Jewel and Esk Valley College when he taught a range of courses. He has a tremendous knowledge of our courses and despite his reputation for being quite scary as our examination manager, he is a really nice chap.
The other important chap is our team is Giles who looks after developing our new qualifications and publishing all our books. A busy chap he also looks after the Financial Education Partnership and in his leisure time his hobby is to edit the Scottish Banker Magazine. Giles is always looking for new articles for the magazine and for feedback on the workbooks. Please give him a call sometime and do not be put off by his accent, he is from Stonehaven – honest.
We have of course lots of other important people who work for us both full time and part time in the education team and I am sure the Browney and Downey show will tell you more about them later. Thanks for reading my blog and good luck with your studies.
Colin
Friday, 28 September 2007
Wednesday, 26 September 2007
Please may I be a blogger?
Good afternoon to all you blogees. I trust that the week is being kind to you.Yes, I couldn't resist that midweek blog. After all I am a blogaholic as Raymond said.
I have been involved in an Apex5/HQ2 revision session on Monday and Tuesday. thanks to all the attendees it was good to meet you and well done in the examination.
Today I am working away on some interesting stuff and I am getting quite excited about forthcoming events.
Next Monday sees the the return of the block release students to our "physical" Academy which takes place at Napier University, Sighthill Campus, Edinburgh.Welcome back to one and all and here's to another sucessful term.
Next week also sees the first of the Chatroom Revison sessions for Chartered Banker students who are sitting final examinations in October/November.Which of course reminds me second assignments are due by 10th October 2007 at the latest. Yes, two weeks from now. Don't say I didn't warn you !!!!
I am really excited about the confirmation that, wait for it, Mr Colin Morrison our Deputy Chief Executive and Director of Education will be blogging on this very blog in his very own blogging way on Friday of this week. This is indeed a very special moment in that we have manged to capture such an important signing to the blogging team.He comes to us at great expense of course and I am sure that his blog will be blogtastic mate as they say!
I don't know what he will talk about but hopefully he does.
Well I don't think it can get any more exciting than this. As always we welcome all feedback, especially after Friday's blog from Mr M. ( No pressure Colin)
Michael ( How many sleeps until Friday?)
I have been involved in an Apex5/HQ2 revision session on Monday and Tuesday. thanks to all the attendees it was good to meet you and well done in the examination.
Today I am working away on some interesting stuff and I am getting quite excited about forthcoming events.
Next Monday sees the the return of the block release students to our "physical" Academy which takes place at Napier University, Sighthill Campus, Edinburgh.Welcome back to one and all and here's to another sucessful term.
Next week also sees the first of the Chatroom Revison sessions for Chartered Banker students who are sitting final examinations in October/November.Which of course reminds me second assignments are due by 10th October 2007 at the latest. Yes, two weeks from now. Don't say I didn't warn you !!!!
I am really excited about the confirmation that, wait for it, Mr Colin Morrison our Deputy Chief Executive and Director of Education will be blogging on this very blog in his very own blogging way on Friday of this week. This is indeed a very special moment in that we have manged to capture such an important signing to the blogging team.He comes to us at great expense of course and I am sure that his blog will be blogtastic mate as they say!
I don't know what he will talk about but hopefully he does.
Well I don't think it can get any more exciting than this. As always we welcome all feedback, especially after Friday's blog from Mr M. ( No pressure Colin)
Michael ( How many sleeps until Friday?)
Friday, 21 September 2007
Blogaholic on the loose
Yes folks it is early Friday morning and no one else is around so I thought I would have one small blog. Just the one mind you. Isn't great that Mr Brown is back and wasn't that a great blog the other day.
You know time flies as they say and it has been over 6 and a half years since Mr B and myself starting working together. As Raymond mentioned I have been called many things in my time here and so has he, but as a duo we are known as Browney and Downey or Brown and Down! It is nice to be seen as a duo just like some of the other duos out there. Cheese and Onion, Salt and Vinegar and of course Sooty and Sweep!!! or maybe Punch and Judy. That's the way to do it!!!!
Well on this Friday we welcome students who are sitting online exams here to Drumsheugh Gardens. Good luck to you all.
Next Monday and Tuesday brings the Apex 5 revision sessions with students sitting the exam on Tuesday afternoon.
Good morning to all our Maltese bloggers. It was 43 years ago today that the George Cross Island became independent after 164 years of British Rule.
I am sure that all our American bloggers remember that on this day in 1998 President Clinton's testimony about his relationship with a young female assistant was released to the United States public.
Well on that last bombshell I think I have blogged long enough for today.
Whether you are celebrating Maltese independence day or whatever you are doing I hope it is a great day for you and even better weekend.
Michael (I'm not really a blogaholic, I can take it or leave it)
You know time flies as they say and it has been over 6 and a half years since Mr B and myself starting working together. As Raymond mentioned I have been called many things in my time here and so has he, but as a duo we are known as Browney and Downey or Brown and Down! It is nice to be seen as a duo just like some of the other duos out there. Cheese and Onion, Salt and Vinegar and of course Sooty and Sweep!!! or maybe Punch and Judy. That's the way to do it!!!!
Well on this Friday we welcome students who are sitting online exams here to Drumsheugh Gardens. Good luck to you all.
Next Monday and Tuesday brings the Apex 5 revision sessions with students sitting the exam on Tuesday afternoon.
Good morning to all our Maltese bloggers. It was 43 years ago today that the George Cross Island became independent after 164 years of British Rule.
I am sure that all our American bloggers remember that on this day in 1998 President Clinton's testimony about his relationship with a young female assistant was released to the United States public.
Well on that last bombshell I think I have blogged long enough for today.
Whether you are celebrating Maltese independence day or whatever you are doing I hope it is a great day for you and even better weekend.
Michael (I'm not really a blogaholic, I can take it or leave it)
Wednesday, 19 September 2007
Phishing - A Profitable Pastime?
Good afternoon,
I hope you are all well!
Finally, after my return to work last Monday (10th), I have managed to drag Mr Downey away from the 'blogging' seat and have wrested from him the 'blogging pen'!!
No kidding either - the man is simply a blogaholic! He tells me however that he's been called worse - and I can certainly vouch for that!!
Anyway, what a week it's been, what with the Rising Star final and the Northern Rock turmoils - I'm not sure which one will have the greater impact on the future of UK banking!
I read today that internet crime has become a major commercial activity, (according to a leading computer security company - obviously I'm not allowed to advertise, but the first initial of the company is "S", the last initial is "C" and they produce Norton Anti Virus). The report said cyber crime had become increasingly professional and was now a multi-billion dollar industry.
Apparently, the underground economy has its own auction sites and marketplaces that sell valuable data such as credit card numbers and bank accounts. They even sell toolkits for novice cyber criminals who lack technical know-how to craft their own attacks. There were 212,101 new threats reported during the first six months of 2007
In fact, three phishing toolkits were behind 42% of all phishing attacks seen by in the first six months of 2007. Often, said the computer security company, these targeted attacks were aimed at the customers of smaller financial institutions, e.g. credit unions and small banks that do not have the people and resources to fight off the attacks.
So you have been warned!
What I'd like to know is this. What about all these mails I keep getting? In particular, can I reply via this blog to two I have just received?
Kermit Gore Re: Your Zoc0r 0rder #9182534
Sorry Kermit, but I didn't order any Zoc0r's so you must have the wrong person.
joseph Gerstl Re:dioyhory
Mr Gersti, Your use of the English language, or indeed any other language, is quite frankly appalling. Please get in touch again when you have mastered the basics.
Sorry about that little rant, folks, and for using this important communication vehicle for my personal use. Oh, no! Here comes Downey for the 'blogging pen' - Aaaaarrrggghhh - he's almost got it from me!
Speak to you soon - must go!!.
Raymond
I hope you are all well!
Finally, after my return to work last Monday (10th), I have managed to drag Mr Downey away from the 'blogging' seat and have wrested from him the 'blogging pen'!!
No kidding either - the man is simply a blogaholic! He tells me however that he's been called worse - and I can certainly vouch for that!!
Anyway, what a week it's been, what with the Rising Star final and the Northern Rock turmoils - I'm not sure which one will have the greater impact on the future of UK banking!
I read today that internet crime has become a major commercial activity, (according to a leading computer security company - obviously I'm not allowed to advertise, but the first initial of the company is "S", the last initial is "C" and they produce Norton Anti Virus). The report said cyber crime had become increasingly professional and was now a multi-billion dollar industry.
Apparently, the underground economy has its own auction sites and marketplaces that sell valuable data such as credit card numbers and bank accounts. They even sell toolkits for novice cyber criminals who lack technical know-how to craft their own attacks. There were 212,101 new threats reported during the first six months of 2007
In fact, three phishing toolkits were behind 42% of all phishing attacks seen by in the first six months of 2007. Often, said the computer security company, these targeted attacks were aimed at the customers of smaller financial institutions, e.g. credit unions and small banks that do not have the people and resources to fight off the attacks.
So you have been warned!
What I'd like to know is this. What about all these mails I keep getting? In particular, can I reply via this blog to two I have just received?
Kermit Gore Re: Your Zoc0r 0rder #9182534
Sorry Kermit, but I didn't order any Zoc0r's so you must have the wrong person.
joseph Gerstl Re:dioyhory
Mr Gersti, Your use of the English language, or indeed any other language, is quite frankly appalling. Please get in touch again when you have mastered the basics.
Sorry about that little rant, folks, and for using this important communication vehicle for my personal use. Oh, no! Here comes Downey for the 'blogging pen' - Aaaaarrrggghhh - he's almost got it from me!
Speak to you soon - must go!!.
Raymond
Thursday, 13 September 2007
The stars are shining
Good morning to you all. As promised here is the result of last night's Deloitte Scottish Financial Services Rising Star Awards 2007. The finalists were:
Carol Anderson
The Royal Bank of Scotland plc
Laura Anderson
Dunfermline Building Society
Mark Gross Bank of Scotland
Stuart Wardhaugh
Bank of Scotland
The winner was Stuart Wardhaugh of Bank of Scotland. Congratulations to you Stuart.
The award for best presentation as voted for by the large and enthusiastic audience and winner of the Fairbairn Trophy was Laura Anderson of the Dunfermline Building Society. well done to you Laura.
The esteemed Judging Panel were:
Miller McLean (Chair)
Group Secretary and General Counsel, The Royal Bank of Scotland plc
Ben Thomson
Chairman, Noble Group Limited
Rob Topley
Partner, Financial Services Practice, Deloitte
Simon Thompson
Chief Executive, The Chartered Institute of Bankers in Scotland
The event was held at the National Galleries of Scotland, a splendid venue in the shadow of Edinburgh Castle. Guests enjoyed a lovely dinner with "Baked Sea Bass with Pancetta" as the main course. Yum Yum I hear you say! My favourite was the desert "Strawberry Tart with strawberry mint salsa and chilled strawberry soup" Yes, the kind of thing you would normally have of an evening!
I am sure that Scottish Banker will carry a report in a future edition and there might even be photographs including the Sea Bass. Well on that Nigella Lawson moment it is time I departed.
Michael ( I thought Sea Bass was a musical instrument)
Carol Anderson
The Royal Bank of Scotland plc
Laura Anderson
Dunfermline Building Society
Mark Gross Bank of Scotland
Stuart Wardhaugh
Bank of Scotland
The winner was Stuart Wardhaugh of Bank of Scotland. Congratulations to you Stuart.
The award for best presentation as voted for by the large and enthusiastic audience and winner of the Fairbairn Trophy was Laura Anderson of the Dunfermline Building Society. well done to you Laura.
The esteemed Judging Panel were:
Miller McLean (Chair)
Group Secretary and General Counsel, The Royal Bank of Scotland plc
Ben Thomson
Chairman, Noble Group Limited
Rob Topley
Partner, Financial Services Practice, Deloitte
Simon Thompson
Chief Executive, The Chartered Institute of Bankers in Scotland
The event was held at the National Galleries of Scotland, a splendid venue in the shadow of Edinburgh Castle. Guests enjoyed a lovely dinner with "Baked Sea Bass with Pancetta" as the main course. Yum Yum I hear you say! My favourite was the desert "Strawberry Tart with strawberry mint salsa and chilled strawberry soup" Yes, the kind of thing you would normally have of an evening!
I am sure that Scottish Banker will carry a report in a future edition and there might even be photographs including the Sea Bass. Well on that Nigella Lawson moment it is time I departed.
Michael ( I thought Sea Bass was a musical instrument)
Tuesday, 11 September 2007
Rising Time
As I travelled to work this morning I was listening to a programme called Rising Time, as I parked the car the sun was begining to rise and lovely it was too. This week sees the final of The Rising Star of Banking taking place here in Edinburgh. This event takes place tommorrow night. There are four finalists all hoping to be this year's Rising Star of Banking. You can be sure that your blog team will be first with the result on Thursday morning.
Our very own wandering star Raymond Brown returned yesterday from the land of the rising sun no less! I thinks he has wandered off again as he is not around today. He will be involved in something very important no doubt.
Some news to report.
London-based sub-prime specialist, Victoria Mortgages, became the first UK lender to fall victim to the current credit crisis, when it announced yesterday that it had gone into administration.
Victoria operated by consolidating its loan book, and selling blocks of mortgages on to larger financial institutions. However, last month Victoria reported along with a number of other niche lenders to those with poor credit histories - the sub-prime end of the market - that they were increasing mortgage rates by up to 2.5 percentage points as recent turmoil had dried up liquidity, pushing up the cost of borrowing to the sector.
The Financial Services Authority, which regulates the market, said up to 381 customers who have current mortgage offers from Victoria may be affected.
Rival mortgage lender GMAC RFC has offered to review Victoria customers' potential completions for home purchase transactions due in the next three days with a view to providing these borrowers with a mortgage loan.
Well I must wander off now. I trust that the week is being kind to you and look forward to speaking with you later in the week and bringing you the result of Rising Star of Banking.
Michael ( Not wandering or am I?)
Our very own wandering star Raymond Brown returned yesterday from the land of the rising sun no less! I thinks he has wandered off again as he is not around today. He will be involved in something very important no doubt.
Some news to report.
London-based sub-prime specialist, Victoria Mortgages, became the first UK lender to fall victim to the current credit crisis, when it announced yesterday that it had gone into administration.
Victoria operated by consolidating its loan book, and selling blocks of mortgages on to larger financial institutions. However, last month Victoria reported along with a number of other niche lenders to those with poor credit histories - the sub-prime end of the market - that they were increasing mortgage rates by up to 2.5 percentage points as recent turmoil had dried up liquidity, pushing up the cost of borrowing to the sector.
The Financial Services Authority, which regulates the market, said up to 381 customers who have current mortgage offers from Victoria may be affected.
Rival mortgage lender GMAC RFC has offered to review Victoria customers' potential completions for home purchase transactions due in the next three days with a view to providing these borrowers with a mortgage loan.
Well I must wander off now. I trust that the week is being kind to you and look forward to speaking with you later in the week and bringing you the result of Rising Star of Banking.
Michael ( Not wandering or am I?)
Friday, 7 September 2007
No Change
Just a short blog on this sunny Friday. As expected Interest rates are unchanged and The Bank of England took the unusual step yesterday of issuing an explanatory statement with a no-change decision on interest rates - highlighting uncertainty over the impact of financial market turmoil but also noting ongoing inflationary pressures.
Business leaders welcomed the decision by the Bank's Monetary Policy Committee to stand pat on base rates at 5.75%. The turbulence in global credit and stock markets had made this hold call a foregone conclusion, in stark contrast to indications in the Bank of England's latest inflation report less than a month ago that there might be a rise.
The European Central Bank hung fire yesterday on benchmark interest rates in the 13-nation eurozone, quashing fears that a pledge on Wednesday to "act accordingly" might have been a harbinger of another quarter-point rise. The ECB held eurozone rates at 4%
I have received a communication from one of our bloggers out there and it refers to a competition! Fantasy CEO no less!
Details can be found here http://business.timesonline.co.uk/tol/business/related_reports/business_evolution/fantasy_ceo/
This may be of interest to students doing Financial Management within the Chartered Banker qualification. There is a prize involved however, I must stress that this not from CIOBS! and of course CIOBS is not responsible for the content of external internet sites.
Well a very interesting week. Please keep the comments and suggestions coming. It is great to hear from you.
The weekend weather forecast is good for this part of the world and in many other places. So whatever you are doing and whoever you are doing it with have a good one.
Michael ( Looking forward to a good one)
Business leaders welcomed the decision by the Bank's Monetary Policy Committee to stand pat on base rates at 5.75%. The turbulence in global credit and stock markets had made this hold call a foregone conclusion, in stark contrast to indications in the Bank of England's latest inflation report less than a month ago that there might be a rise.
The European Central Bank hung fire yesterday on benchmark interest rates in the 13-nation eurozone, quashing fears that a pledge on Wednesday to "act accordingly" might have been a harbinger of another quarter-point rise. The ECB held eurozone rates at 4%
I have received a communication from one of our bloggers out there and it refers to a competition! Fantasy CEO no less!
Details can be found here http://business.timesonline.co.uk/tol/business/related_reports/business_evolution/fantasy_ceo/
This may be of interest to students doing Financial Management within the Chartered Banker qualification. There is a prize involved however, I must stress that this not from CIOBS! and of course CIOBS is not responsible for the content of external internet sites.
Well a very interesting week. Please keep the comments and suggestions coming. It is great to hear from you.
The weekend weather forecast is good for this part of the world and in many other places. So whatever you are doing and whoever you are doing it with have a good one.
Michael ( Looking forward to a good one)
Thursday, 6 September 2007
Will they or won't they?
Good Morning to you all. A cloudy morning here in Edinburgh but the promise of some sunshine later. Hooray! So what's happening out there?
UK service sector growth accelerated unexpectedly last month, showing no immediate scars from turmoil in global financial markets, and house prices continued to advance in spite of recent interest rate rises, surveys showed yesterday.
Such signs of strength would have been likely, before the turbulence in credit and stock markets began in earnest last month, to have fuelled expectations of a further rise in benchmark UK interest rates.
However, the Bank of England's Monetary Policy Committee is now expected to hold UK base rates at 5.75% at the end of its latest two-day monthly meeting today. I am sure we will be keeping an eye on this one today.
The Bank of England, moved yesterday to tackle crippling overnight interbank lending rates with its first-ever promise under the current money market regime to release extra reserves if required.
Yesterday was the first time the Bank of England has pledged to make extra reserves available, beyond the aggregate agreed in roughly monthly maintenance periods with about 42 banks who use this system, since its current regime for money market operations came into force in May 2006.
It may be dull here in Edinburgh this morning but it is all happening out there in the markets.
Here at CIOBS revision courses continue with the Financial Economics session taking place today. I am sure that all students attending will be clued up on the activity in the markets. Will they have a break at midday to check whether or not interest rates have changed? Will they or won't they?
For his many fans who have been asking the question"Where is Raymond?" I can exclusively reveal that the great man returns on Monday. So not long to go now folks. Just one more weekend to go.
Keep an eye on the markets!
Michael ( Still flying solo)
UK service sector growth accelerated unexpectedly last month, showing no immediate scars from turmoil in global financial markets, and house prices continued to advance in spite of recent interest rate rises, surveys showed yesterday.
Such signs of strength would have been likely, before the turbulence in credit and stock markets began in earnest last month, to have fuelled expectations of a further rise in benchmark UK interest rates.
However, the Bank of England's Monetary Policy Committee is now expected to hold UK base rates at 5.75% at the end of its latest two-day monthly meeting today. I am sure we will be keeping an eye on this one today.
The Bank of England, moved yesterday to tackle crippling overnight interbank lending rates with its first-ever promise under the current money market regime to release extra reserves if required.
Yesterday was the first time the Bank of England has pledged to make extra reserves available, beyond the aggregate agreed in roughly monthly maintenance periods with about 42 banks who use this system, since its current regime for money market operations came into force in May 2006.
It may be dull here in Edinburgh this morning but it is all happening out there in the markets.
Here at CIOBS revision courses continue with the Financial Economics session taking place today. I am sure that all students attending will be clued up on the activity in the markets. Will they have a break at midday to check whether or not interest rates have changed? Will they or won't they?
For his many fans who have been asking the question"Where is Raymond?" I can exclusively reveal that the great man returns on Monday. So not long to go now folks. Just one more weekend to go.
Keep an eye on the markets!
Michael ( Still flying solo)
Monday, 3 September 2007
September Already?
Well the sun is shining but the mornings are getting darker as we move into the autumn. As I sit here at CIOBS towers. It is a day for reflection. Raymond continues on his "Summer break" The Academy continues to exist in his absence. There was a bit of a flurry on Friday and over the weekend as the closing date for assignments and exam enrolments dawned. The closing date for assignment 2 is 10th October, yes, that is 37 days away - so please start planning now!
Revison sessions are starting this week here at CIOBS and will continue until 17th October. Please see http://www.ciobs.org.uk/qualifications/downloads/Revision_Course_Timetable.pdf
for further details.
I notice that overdraft charges are in the news once again.The OFT has today, 31th August 2007 filed particulars of claim at the High Court on the application of the law in respect of unauthorised overdraft charges, and these documents will be available on the OFT website next week after they have been served on the other parties. The documents relate to the question of whether the fairness test in the Unfair Terms in Consumer Contract Regulations (UTCCRs) applies to the relevant charges.
The OFT is continuing its financial investigation to determine whether or not unauthorised overdraft charges are fair, based on its view that the fairness test does apply to them. This investigation is due to be completed by the end of the year.The banks take the view that the charges are not covered by the fairness test in the UTCCRs and the court case at the beginning of 2008 is designed to test this point of law.
It will not lead to a judgment as to whether the charges themselves are fair or not. The OFT will decide after the initial judgment what steps to take should it win the test case and conclude from its financial investigation that any of the charges are unfair. The OFT will publish its market study on the current account market in December 2007.
Well a new day and a new month. have a good week and speak to you soon. Where are these guest presenters I promised you? I will look into this and maybe have a surprise for you this week .
Have a good one.
Michael (Feeling a bit Autumnal)
Revison sessions are starting this week here at CIOBS and will continue until 17th October. Please see http://www.ciobs.org.uk/qualifications/downloads/Revision_Course_Timetable.pdf
for further details.
I notice that overdraft charges are in the news once again.The OFT has today, 31th August 2007 filed particulars of claim at the High Court on the application of the law in respect of unauthorised overdraft charges, and these documents will be available on the OFT website next week after they have been served on the other parties. The documents relate to the question of whether the fairness test in the Unfair Terms in Consumer Contract Regulations (UTCCRs) applies to the relevant charges.
The OFT is continuing its financial investigation to determine whether or not unauthorised overdraft charges are fair, based on its view that the fairness test does apply to them. This investigation is due to be completed by the end of the year.The banks take the view that the charges are not covered by the fairness test in the UTCCRs and the court case at the beginning of 2008 is designed to test this point of law.
It will not lead to a judgment as to whether the charges themselves are fair or not. The OFT will decide after the initial judgment what steps to take should it win the test case and conclude from its financial investigation that any of the charges are unfair. The OFT will publish its market study on the current account market in December 2007.
Well a new day and a new month. have a good week and speak to you soon. Where are these guest presenters I promised you? I will look into this and maybe have a surprise for you this week .
Have a good one.
Michael (Feeling a bit Autumnal)
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