Independent providers struggle in post-Mifid II research landscape

Independent providers struggle in post-Mifid II research landscape

By LOUISE BOWMAN

More than six months after the updated directive was implemented, its effects on research provision are becoming clearer. The good news is that buy-side research budgets seem to have stabilized; the bad news is that if you aren’t big, you probably aren’t on the receiving end of them.

Asset management: Should Europe’s banks buy back into the buy side?

Asset management: Should Europe’s banks buy back into the buy side?

By DOMINIC O’NEILL

Asset management is one of the few opportunities European banks have for growth and good returns, but regulation is challenging the captive market and margins are falling. Can banks build their own versions of the low-cost US fund management firms – or are these few remaining crown jewels heading the same way as their investment banks?

Banking resolution: BRRD on the run

Banking resolution: BRRD on the run

By LOUISE BOWMAN

Even its main architects admit that Europe’s banking resolution directive is fundamentally flawed – and they are in a desperate race to fix its failure to deal with funding and liquidity crises before the next bank collapse occurs.

Don’t bank on Euribor surviving 2020

Don’t bank on Euribor surviving 2020

By GRAHAM BIPPART

Euribor’s administrator is confident that its reforms to the benchmark will make it eligible to be published and used after the Benchmark Regulation’s transition period ends. But don’t bank on it.

Regulation: Mifid II starts to bite

Regulation: Mifid II starts to bite

By PHILIP MOORE

As Mifid II beds down, its impact on the global fixed income research industry is already being felt. There are clear signs that investors are less reliant on research and are using fewer providers than before. As they start to cut costs to implement their own research budgets, providers must ensure that they are getting good value for money.

Do you believe in life after Libor?

Do you believe in life after Libor?

By GRAHAM BIPPART

Progress has been made on possible replacements for Libor as a reference rate for financial instruments. But they don’t all have the market thrilling to the prospect of a Libor-less world.

US regional banks weigh scale as predators circle

US regional banks weigh scale as predators circle

By LOUISE BOWMAN

By increasing the size at which a US bank is deemed to be systemically important to $250 billion, the Trump administration has unleashed a wave of merger activity among the country’s regional banks. This is the fervent hope of the investment bankers waiting to do the deals, but the reality might turn out to be rather more complicated than that.

Singapore FX market riding high on world events

Singapore FX market riding high on world events

By PAUL GOLDEN

The southeast Asian FX market is on fire and it is set to get a further boost thanks to a combination of political and economic turbulence, a regulator committed to facilitating infrastructure investment and increased interest from non-bank market makers.

PSD2: Real-time processing? Not so fast

PSD2: Real-time processing? Not so fast

By PAUL GOLDEN

Industry experts observe that while the revised Payment Services Directive (PSD2) represents an opportunity for corporate treasury to take advantage of real-time payment processing, it will take some time for the full benefits to be realised.

Special focus

AT1 capital/CoCo bonds: what you should know

AT1 capital/CoCo bonds: what you should know

Additional tier-1 (AT1) securities and contingent convertible capital instruments, known as CoCo bonds, absorb losses when the capital of the issuing financial institution falls below a supervisor-determined level.

Volcker rule: special focus

Volcker rule: special focus

Probably the single most controversial post-crisis piece of financial regulation, the Volcker rule has been blamed with hampering liquidity and has been criticized as virtually unenforceable.

TLAC: what you should know

TLAC: what you should know

We explain the FSB's total loss-absorbing capacity requirements for global systemically important banks (G-Sibs).