Our biggest stories of the week are ...
The regulator's dilemma: being DUPEd
It’s pretty clear that regulatory systems haven't worked and realised what the mistake was the other day. It’s a four-phase issue, summarised as regulatory DUPE:
- Disaster,
- Understanding,
- Proposition; and
- Execution.
Standard & Poor's Global Corporate Default Study
Standard & Poor's sent a note yesterday that states, between 1981 and 2010, the average five-year default rate for investment grade corporate issuers has been 1.2%, compared with 17.5% for speculative grade companies.
Monthly MiFID MTF Monitor, March 2011
We are pleased to provide our monthly monitor of MTF performances in European Equities trading, in partnership with Thomson Reuters Equity Market Share Reporter (EMSR).
Review: The Independent Commission on Banking Interim Report
And so the long awaited Independent Commission on Banking (ICB) produced it’s report yesterday, and we all went … hmmmm. Some went hurray: Shares in Barclays and Royal Bank of Scotland topped the FTSE...
I’m intrigued about how we use the net socially. Via mobile and laptop, tablet and TV, we now exchange lots and lots of personal information with anyone and everyone. I’ve often said this can be dangerous. By way of example, I use the story of tracking down a bank’s call centre manager via facebook, and using her family photos to find out her behaviours and habits. Then I might hold her kids at ransom, unless she defrauds the bank. Unfortunately, that's a true story.
You may have seen the T-Mobile UK ads, where a flashmob arrive at Liverpool Street Station and start a song. It's feelgood stuff, brings a smile to your face and is just, well, 21st century cool. So it's nice to see a bank nick the idea and run this in the USA.
Cloud Computing in Banking, the Big Debate
Gartner estimate cloud computing will grow from a market worth $36 billion in 2009 to over $160 billion by 2015, with around a fifth of all firms relying on the cloud for significant parts of their technology operations by 2012....
The major general news stories of the week include ...
ICB report: A classic British compromise - The Telegraph
Here are the key recommendations of the Independent Commission on Banking in its interim report to make the banking system more competitive and less vulnerable to crises.
Banks to separate savings and investments in system overhaul - The Independent
Britain's biggest banks are bracing themselves for a government-commissioned report tomorrow that will recommend a fundamental overhaul of the way they do business.
Mobile Banking and Payments: Perspectives from Financial Institutions - Payments News
Fiserv sponsored a survey of top US banking executives to see where they stand regarding mobile. Forrester surveyed 15 decision makers in October 2010 from top tier U.S. banks and credit unions to evaluate the current and future state of mobile banking and payments within their organizations.
Lloyds Banking Group looks at proposal to split in two - The Telegraph
Lloyds Banking Group is considering splitting the bank into two in a move that would create a "non-core" bank filled with assets ready for disposal.
Bank of Ireland post €1bn loss - The Independent
Bank of Ireland has announced losses of almost 1 billion euro (£889.9 million) for last year.
Allied Irish to cut 2,000 staff - BBC
Allied Irish Banks (AIB) announces plans to cut 2,00 jobs over this year and next, as it seeks to reduce costs.
Deutsche Bank eyes US revamp to avoid raising extra capital - The Telegraph
Deutsche Bank is said to be planning a reorganisation of its US operations to avoid the possibility of having to raise billions of dollars in extra capital.
Citigroup tower on the market for buyers offering 'in excess of £1bn' - The Independent
The 42-storey Canary Wharf tower which houses the European headquarters of Citigroup is being put up for sale for more than £1bn, the commercial property agents Jones Lang LaSalle said yesterday.
Jamie Dimon: Regulators must do what's good for the US, not Europe - The Telegraph
Jamie Dimon, chief executive of JP Morgan Chase, has said American regulators should do "what's good for the US, not what's good for Europe"
Goldman Sachs sued by Silicon Valley entrepreneurs - The Telegraph
Goldman Sachs cost two Silicon Valley entrepreneurs more than $100m (£61m) by tricking them into selling shares in the company they founded, a lawsuit alleges.
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
