Things we're reading today include ...
Today's must read:
The American argument over interchange fees
"Trillions of dollars of transactions are processed each year
on credit and debit cards in the United States. 1.7% of each credit or
debit card payment (to use the GAO’s example) may not seem like a huge
amount on an individual transaction, but 1.7% of $2.5 trillion is real
money, even by Washington budget standards."
Allan Shampine
Northern Rock split date is set - BBC
No compensation for Northern Rock shareholders - The Independent
Barclays chief Bob Diamond warns windfall tax on bank bonuses not in line with G20 - The Telegraph
Morgan Stanley in leadership reshuffle - The Times
Dubai finance chief : 'Six months too short to restructure debt' - The Times
MPs to examine threat posed by 'too big to fail' banks - The Telegraph
Baroness Vadera: 'I still have nightmares about the financial crisis' - The Telegraph
Get ready for a fixed-income revolution - The Times
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...