Fintech

Fintech

Ripe for innovation

Private placement market

Private placement market

Does Europe need its own?

Financial regulation: special focus



Mark Carney, governor of the Bank of Canada  Michel Barnier, European commissioner for the internal market and services
SEC chairman Mary Schapiro Jamie Dimon Charles Dallara, managing director of the IIF


L-R: Mark Carney; Sheila Bair; Michel Barnier; Mary Schapiro; Jamie Dimon; Charles Dallara


"I had a discussion with a very senior regulator recently who told me: 'Look, I know we’ve gone too far too fast on some of this and that we’ve made some errors, but I’m afraid I don’t know how to stop this process’. Now that’s quite scary." 


Volcker rule: special focus

Circuit breakers: Does FX need a kill switch?
March 2015
Foreign-exchange broker FXCM’s CEO calls for wider adoption of circuit breakers on FX platforms to prevent another Swiss franc shocker as seen on Black Thursday, but critics question whether it is the right solution and even suitable for an over-the-counter (OTC) market such as FX.

FEMR consultation highlights scale of regulatory challenge in FX
March 2015
In its fair and effective markets review, the Bank of England has acknowledged end-users are largely ill-suited to the task of combating market misconduct in FICC markets. But opinion remains deeply divided over how best to strengthen oversight in wholesale markets, and which regulatory body should lead the charge.

Capital Markets Union: Make do and mend
March 2015
Jonathan Hill has eschewed grand ambition for practical reality in his CMU green paper.

Regulation: Philippines remains a tough nut to crack
March 2015
The country’s banking industry is growing fast. New laws designed to encourage foreign investment make it easier for offshore firms to wholly purchase local lenders. But there are plenty of barriers to entry aside from regulation.

Does Europe need its own private placement market?
March 2015
Private placements have usurped securitization as Europe’s great SME financing hope. The financial markets support EU commissioner Jonathan Hill’s Capital Markets Union initiative to promote it. But the thriving US market will be hard to compete with, let alone replicate. Which leaves two questions: Can the EU build it? And, even if it can, will issuers and investors come?

Brazil's education still smart despite regulatory blow
March 2015
Tarpon takes control of Abril for R$1.3 billion; new regulation might limit numbers of higher students.

Regulatory capital: Banks spread the search for tier-2 buyers
March 2015
Rabo and BPCE pioneer samurai deals; Japanese investors see big risks at euro banks.

Bank regulation: 'Basel IV’ sparks banker fury
March 2015
Basel wants end to use of credit ratings; further regulatory changes deplored.

Treasurers voice fears over EU MMF regulation
February 2015
Yield-hungry treasurers are keeping a close eye on the progress of the European Commission’s proposed changes to money market funds rules, and fear changes to net asset valuations and the role of credit agencies.

Banking clubs extend global reach
February 2015
International banking alliances offer a number of benefits to treasurers – from FX hedging to cash pooling – while Sepa and the rise of non-bank payment providers have yet to diminish their allure.

Fragmented payments landscape undermines Asean integration
February 2015
While corporates are gearing up for southeast Asian trade integration, a balkanized regime for processing cross-border payments is undermining the intra-regional push.

New FX trading standard sees slow adoption
February 2015
Despite its extension to FX last year, market participants acknowledge it is likely to be some time before they feel the full impact of the liquidity-enhancing trading enablement standardization initiative (TESI).

Turkey: New rules prompt Vakifbank tier-2 move
February 2015
Basel III law opens up funding; investors bring $1 billion book.

Australia: More questions than answers in the Murray Report
February 2015
Everyone was a little nervous at the contents of the first inquiry into the nation’s financial services industry in over 25 years. It isn’t as traumatic as most feared, but it leaves some important issues unanswered.

Banks urged to improve compliance-burden cooperation
February 2015
Onerous KYC regulations are imperilling trade financing and the flow of credit to emerging markets. It is high time banks boost cooperation, aided by technology, to address the challenge, as industry efforts are found wanting, say treasurers.

Thomas Hoenig interview: Battle against too-big-to-fail fragments banking
January 2015
Haunted by the global crisis, policymakers from the US to the UK are erecting national barriers and waging a war against too-big-to-fail banking. Vice-chairman of the Federal Deposit Insurance Corp Thomas Hoenig defends the drive toward balkanization.

Regulation: Banking's next big hits
January 2015
Regulation now utterly dominates the banking industry and will have an even bigger impact in 2015, not just on bank capital and returns but on the entire legal structure of the industry.

Banks struggle to find the right business model
January 2015
Banks need new sources of revenue or will remain chained to the wheel of endless cost cutting as they face continuing uncertainty about how to best allocate their capital.

Regulators still calling the shots
January 2015
If systemic risk in the banking system really has been reduced as much as chief executives say, why are regulators set to have an even greater impact in 2015?

Litigation: From exceptional items to a cost of doing business
January 2015
The uncertainty for investors over bank litigation extends beyond hits to bank profits and so, potentially, their ability to pay dividends and service coupons on capital instruments and debt.

Regulation: EU-US tensions remain over leverage ratio
January 2015
US officials are waging a war to promote the leverage ratio as a binding constraint on banks’ capital frameworks, further imperilling strategic planning for cross-border lenders.

Clearing: European banks weigh up US dollar clearing options
January 2015
US fines provoke re-assessment; dollar clearing in Europe considered.

The next regulatory battle: bank structures
January 2015
From the Volcker Rule to the EU’s proposed ring-fencing, inconsistent rules on bank structures, both within the EU and between the US and Europe, are the latest threat to the global banking model.

Macaskill on markets: Sunset approaches for the Sun King
January 2015
JPMorgan CEO Jamie Dimon made a crucial intervention in a move to roll back part of the US Dodd-Frank legal reforms to tighten regulation of banks.

2014: a year in data – SEPA
January 2015
For years, discussion in the transaction services industry has tended to default to the impending introduction of the Single Euro Payments Area, or Sepa. This year, it finally came into force.

TLAC: Fears for tiers
January 2015
As 2015 dawns, senior bankers are still poring over the implications of the Financial Stability Board’s proposals to boost their total loss absorbing capacity (TLAC) to ensure that beyond common equity, Additional Tier 1 capital and Tier 2 subordinated debt, banks still have enough liabilities on which losses can be imposed in the event of a failure so that taxpayers never again have to bail them out.

Sepa provides force for change in transaction banking
December 2014
The single euro payments area (Sepa) initiative was something so burdensome it took longer than planned to implement, but after delays transaction banks and their corporate clients stand to benefit from this payments regulation.

TLAC and bank M&A: Europe needs consolidation, not recapitalization
December 2014
Debt service costs will hit profits; regulators see M&A as the answer.

TLAC: what you should know
December 2014
All about the proposed total loss-absorbing capacity requirements.

EC green paper poised to kick-start debate over Capital Markets Union
December 2014
Capital Markets Union should be about what investors want to buy, not just about what investment banks want to sell.

FX regulations doing more harm than good, reveals survey
December 2014
New market regulations governing the FX industry have done more harm than good for FX trading desks, according to an October survey by TradeTech FX.

Regulation puts global banking in peril
December 2014
Don’t believe the G20 hype. In interviews with Euromoney, the world’s top financial policymakers admit regulatory tensions are tight. What’s more, the collateral damage of the focus on too-big-to-fail, capital rules and bankruptcy resolution risk rolling back financial globalization. Is it time to change the terms of the discussion?

Bank relationships: The risk of de-risking
December 2014
Global banks may feel that purging their correspondent banking relationships will help them de-risk, but they should beware the unintended consequences.

Banking: AQR aftermath throws up more questions for banks
December 2014
Investors greeted the European Central Bank’s asset quality review with little more than a shrug. They view it as merely the first step on a journey to enhanced and uniform bank supervision that might take a decade to complete. They are much more worried about the sustainability of banks’ business models and whether or not they can even earn enough to service their growing capital stack.

Bank M&A: Europe needs consolidation, not recapitalization
December 2014
Debt service costs will hit profits; regulators see M&A as the answer.

Banks search for certainty on liquidity rules
November 2014
The deadline is approaching for the Basel intraday liquidity rules. But without a defined set of procedures, and concerns around costs, banks are moving forward reluctantly.

'Super-systemic' CCPs need a TLAC of their own
November 2014
If forthcoming regulation fails to guarantee robust loss-absorbing capacity at central clearing counterparties (CCPs), their increasing systemic importance could usher in a new generation of organizations that are too big to fail.

Setting the foundations of standardization
November 2014
There is much discussion around moving towards a standardized form of banking, but who is setting the standard?

Collaboration could ease KYC burden
November 2014
Meeting KYC requirements is an irksome and expensive task for banks to contend with. But there are a slew of offerings from financial-services companies to ease the compliance burden.

Industry divided as regulators mull NDF clearing
November 2014
European proposals for mandatory clearing of non-deliverable forwards (NDFs) published in October seemed to be a decisive step toward a new framework for FX derivatives trading. However, responses to the consultation reveal deep divisions among FX market participants over the way forward.

Bundesbank’s Dombret says trust restored in European banking system
November 2014
In an interview with Euromoney, Bundesbank board member Andreas Dombret sounds an upbeat note on the rigour of the ECB’s asset-quality review (AQR) and the eurozone’s resolution arrangements, but issues a sharp warning over banks’ risk-free treatment of sovereign debt.

Banking: Asia-Pacific’s regulation headache

  Page 1 of 4  Next | Single Page



 
       
 

SELECTED CHAPTERS

Global: vibrant new hub for business and ideas in Beijing

Domestic companies: the gateway for China’s pioneering business leaders

International companies: a home from home for global brands in China

Sponsored by