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WireTap 1400 20/12/11

A round-up of the top stories across the specialist financial media, including news that the UK calls time on RBS’s global ambitions

UK calls time on RBS’s global ambitions

Chancellor says state-backed bank should return to UK roots

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Italy seeks to raise cash from frequencies amid debt crisis

Italy, fighting to reduce borrowing costs amid Europe’s debt crisis, may raise more than 2 billion euros ($2.6 billion) from the sale of television frequencies.

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Basel statement on risk transfer could halt legitimate trades, bankers warn

Basel Committee focuses on cost of protection in attempt to stamp out capital arbitrage, but dealers worry that sound trades will also suffer

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Indian billionaire Kotak’s bank has margins Goldman can envy

Billionaire Uday Kotak, not content with 35 percent margins and a No. 1 ranking underwriting Indian IPOs, is aiming to increase profit next year at both his investment bank and commercial-lending businesses.

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