The biggest news stories of the week include ...
- Inventor of the cash machine dies - BBC
- JP Morgan: England to win World Cup - The Telegraph
- Coalition outlines bank reforms - BBC
- Mayor of London Boris Johnson calls coalition policy of
attacking banks 'nuts' - The Telegraph - Euro in danger: Germans trigger panic over future of
single currency - The Times - Reforms to cost European banks £208bn in lost profit
- The Telegraph - Dow crash: broker blamed - The
Times - Historic Wall Street overhaul passed by US Senate -
The Times - Bankers trade their BlackBerrys for iPhones - The Times
And our biggest stories of the week are ...
The future of banking regulation
The City of London released an interesting document yesterday on the
future of regulation of banking. They talk about liquidity, leverage,
capital and risk liberally, and state that the future regulatory regime
must not clamp down on capital reserves in banking so hard that the
banks are unable to lubricate the global economy. What I found interesting is that there are quite a few contradictions
in the 77 page report although, such as a proposal for global
regulations and then they say that global regulations will not work.
Challenges and Solutions for Banking UK
Another two interesting documents were released on Friday. The first is an official House of Commons
Library publication: Key Issues for the New
Parliament 2010. the new coalition Conservacrats
published their document:
The Coalition programme for government. Both documents place banking reform as a priority with bonuses, splitting retail and investment banking and taxing banks high on the agenda.
After Angela Merkel's comments about the "euro is in danger", I
was going to write a long and in-depth review of the state of the euro
... but I was beaten to it by Chris Blackhurst's column in the evening standard.
Managing liquidity risk in a changed and global
world
I received an interesting white paper the other day from Wim
Raymaekers, Head of Banking Market at SWIFT on Liquidity Risk. Here’s
the Executive Summary.
2010's most innovative financial firms
Finovate took place in San Francisco last week. It is definitely the
one place you will find the NEXT generation of banking with over
thirty-six firms presenting to a record audience of 500 industry
executives. Which four firms
were voted 'Best in Show' to be cited the most innovative financial
firms 2010?
I was having a conversation today with a firm considering entering
banking in the UK. They would be an unexpected player, as their brand is
seen to be trusted but totally unrelated to financial services. So I
sent them this article that details how non-banks could become banks and
the challenges Tesco and Virgin have faced.
I love talking to Chinese and Indian banks, just by the sheer
drama of hearing their numbers. For example, I talked with State
Bank of India this week who have:
- 150 million customers
- 11 million High Net Worth customers who earn >US$10,000 per month
- 3.5 million internet banking users
Nothing to do with banking, but a wander down memory lane. Twenty
years ago I demonstrated a prototype of what you would call the very
first iPad ... a 386 Intel processing Table PC!
.
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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...
