Regulation

Regulation

Banking's next big hits

Private Banking Survey 2015

Private Banking Survey 2015

US leaders march on Swiss banks’ global territory

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Escalating risks for sub-Saharan African Eurobond issuers

Escalating risks for sub-Saharan African Eurobond issuers

February 2015

Risk experts have become increasingly concerned about prospects for the majority of African sovereign borrowers that are considering issuance in 2015. Will investors demand a premium?


Cote d’Ivoire kicks off African Eurobond market for 2015

February 2015

Cote d’Ivoire’s latest Eurobond and the first out of sub-Saharan Africa this year indicates investor appetite for African sovereign debt and the country’s strong fundamentals.

Cash pooling structures evolve

February 2015

Cash pooling can provide substantial cost and efficiency savings, but it is not a simple solution for corporate treasurers to implement. Euromoney reports on a new initiative that mixes elements of a standard cash pooling and a notional pooling structure.

Smart corporates beef up FX hedging

February 2015

FX volatility highlights the need for corporates to stick to long-term hedging programmes, so that they can protect profits and their credit ratings. Some firms are also positioning themselves for opportunistic trades and upgrading their treasury and FX management systems.

Poland’s improving fortunes highlight pockets of safety in CEE

February 2015

The majority of Central and Eastern European sovereigns have been upgraded by Euromoney's country risk survey since the third quarter of 2014. Hungary is still irking the experts with its heightened political risks, but elsewhere there are still reasons to be cheerful about the region’s prospects.

FXCM CEO reveals next steps post-SNB disaster

February 2015

After the events of Black Thursday, the CEO of crest-fallen FXCM, the FX broker, discusses the shake-up in its business model, the future for retail flows, and lashes out at the institutional FX market structure.

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.

Competition between Asian treasury centres on the rise

February 2015

Competition among Asian jurisdictions is on the rise as demand for regional treasury centres (RTCs) grows. Meanwhile, change is afoot in the treasury market in Hong Kong and Shanghai.

Ghana-IMF deal faces hurdles amid likely delay

February 2015

Ghana has been in discussions with the IMF since September over a new programme, but the March deadline is likely to be missed as the administration seeks to resist pre-election giveaways and cut the public-sector wage bill, say analysts.

RMB: Banks staff up to match rise of Chinese currency

February 2015

The need of banks to raise awareness and staffing levels around the renminbi within their own organizations looks set to be key as the battle for business heats up.

Malaysia’s CIMB mulls next move after merger setback

February 2015

Malaysia’s quest to create a regional champion with a large Islamic bank came to an end when a plan for a three-way merger was scrapped. The country’s second-largest lender by assets is now retrenching to boost returns and eyeing strategic acquisitions.

Portugal’s ‘Syriza’ faces uphill battle

February 2015

A relatively stable political climate has boosted Portugal’s economic recovery and secured record low borrowing costs. But are markets too complacent? Euromoney interviews anti-austerity advocate Rui Tavares, a leftist founder of Livre and an ally of Greek finance minister Yanis Varoufakis, as the ruling centre-coalition seeks to secure its position ahead of the September elections.

Credit Suisse to launch new digital wealth management offering

February 2015

Next month Credit Suisse Private Bank will be rolling out new digital capabilities in Asia, and April will see the launch of a tablet banking offering in Switzerland.

Treasurers urged to hedge FX risks amid volatility uptick

February 2015

For corporate treasurers, currency volatility is heightening the importance of updating FX hedging policies, amid rising costs.

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.

Angola to test African Eurobond appetite

February 2015

Angola could become the first African sovereign bond borrower since the great oil price crash this year in a debut deal that will set the tone for frontier-market debt.

Rising dollar makes renminbi second-most overvalued currency

February 2015

What goes up must come down, even the renminbi. Having appreciated by more than 30% since 2008 against a trade-weighted basket, there is growing consensus that 2015 will see further falls in the Chinese currency.

Symbolic Hungary deal ends ‘hostile’ attitude to banks

February 2015

Hungary’s government commits to reduce bank taxes, while a proposed stake in Erste Bank shows ‘we’re all in the same boat’, says the minister behind the plan.

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.

US dollar: special focus

February 2015

The dollar suffered as a result of the Federal Reserve's massive quantitative easing programme. In 2012 it was the second-weakest performing G10 currency after the yen. That helped extend the bear trend that the dollar has been trapped in since 2002. But now, sentiment towards the dollar appears to be turning. Many believe that US growth is set to be the strongest among developed nations and that, while it will not happen immediately, the Fed will be the first among the world's big-three central banks to start withdrawing monetary stimulus. Could the 11-year regime of dollar weakness be about to end?

Lira’s wobbles exacerbate Turkey’s credit risk

February 2015

The sovereign’s risk score is sliding again, raising doubts over its safety.

Emerging markets: special focus

February 2015

A cyclical blip in a structural bull market or a fundamental re-appraisal of the growth and investment prospects in developing economies? Euromoney wades into the debate about the recent bear run in emerging markets and provides coverage of FX, fixed income and equity market trends.

Financial regulation: special focus

February 2015

China: special focus

February 2015

From rebalancing of the economy and financial reform to the internationalization of the renminbi, Euromoney sheds light on China’s economic challenges amid the global spotlight.

Swiss banks launch cost-cutting drive

February 2015

Euromoney's Private Banking Survey 2015 highlights that large Swiss banks expect to redouble efforts to cut costs amid Swiss-franc volatility – a move confirmed by bank earnings statements this week.

Speculators smell blood as Danish peg comes under fire

February 2015

After the shock removal of the Swiss peg to the euro, speculators are testing the DKK peg, though, for now, the central bank is well-placed to withstand the pressure.

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.

Money markets: Short-term bank funding costs hit by Fidelity move

February 2015

Prompted by new SEC rules, the largest prime money market fund in the US will switch to a government mandate. The move might herald the transformation of the $1.7 trillion prime MMF industry.

Off the record

February 2015

Swiss franc unpegging hits private banks

February 2015

Julius Baer fares worse than UBS and CS; small private banks’ M&A escape hampered.





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