Banks

October 2026

1. Fri 1609:22Policy
   UK bank tax rise expected in the Budget, as banks paid £39.1bn last year

   Bank executives expect a bank tax rise in Healey's Budget on 28 October. UK banks paid £39.1bn in tax last year. The surcharge on profits is 3%, down from 8%.

   Market noteThe Notebook Desk4 min
2. Wed 1406:58Credit
   Bank of America fine: $1.2bn for failing to report $5bn of suspicious payments

   The Bank of America fine is the third-largest in Treasury history. The bank admits it relied on police and other banks to spot money laundering for it.

   Market noteThe Notebook Desk4 min
3. Sun 1100:20Equities
   Revolut picks New York for its listing, because that is where the buyers are

   Revolut's chief executive says the digital bank is targeting a primary US listing, citing the depth of American markets. The US holds 43.7% of the world's stock market value.

   Market noteThe Notebook Desk4 min
4. Thu 823:18Credit
   American Express money laundering fine: $350m, and no asset cap

   The American Express money laundering fine is $350m: regulators found its bank missed about $13bn of suspect activity over a decade, from 2014 to 2025.

   Market noteThe Notebook Desk3 min