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The Finanser’s Week: 26th September – 2nd October 2011

Our biggest stories of the week are …

Eurozone crisis threatens SEPA

The euro zone crisis threatens to derail the Single Euro Payments Area (SEPA), according to a new research paper. Challenging those who separate the crisis from SEPA preparations, The Eurozone, the ECB and the feasibility of SEPA: an overview, says the Sepa policy objectives were based on certain assumptions about how the single market and the euro would be operating by the time SEPA was realised, but these have not occurred.

My latest prezi on the Bank of Tomorrow

For those who are interested, here's my latest presentation from a recent visit to Germany … you can skip the first minute as the presentation is being loaded … Here's the Prezi that goes with it for those who like… 

Toronto's hero banker: from riches to rags 

So I finish my time in Toronto with a little relaxation and sightseeing. Won’t bore you with all the details, but one of the most interesting places to visit is a place called Casa Loma.  This is a house, or castle, build be a banker who built Canada and who was then ruined by the government …

The #1 Woman in Finance, Europe 

I was sent a list from the American Banker this week, who have just published their annual list of the most powerful women in banking. Number 1 is Karen Peetz, Vice Chairman of BNY Mellon Generates roughly half of BNY…

Banks are awful, says the FSA 

Email received 08:47, 29/09/2011: Dear Mr. Skinner I have to say that your blog reflects the UK: a nation of bloody whingers. This was well demonstrated by the release of the FSA’s figures this week that shows all your citizens…

Compare and contrast the UK and the Philippines 

It's always interesting to compare and contrast financial markets and issues, and this was easily illustrated yesterday when I received a nudge of two videos. The first is from the UK and talks about debt; the second is from the Philippines showing how mobile payments are assisting a food crisis …

 

The major general news stories of the week include …  

The trader who lifted the lid on what the City really thinks – The Independent

The world may be teetering again on the precipice of economic disaster but those with any investment in the popularity of Alessio Rastani, a hitherto unknown "independent trader", had a worse day than most after his memorable appearance on television yesterday morning.

Trader was not a hoaxer, says BBC – BBC
A financial trader who appeared on the BBC was not a hoaxer, the broadcaster says after doubt was cast on his credentials.

BBC financial expert Alessio Rastani: 'I'm an attention seeker not a trader' – The Telegraph
Is self-styled City trader Alessio Rastani a professional hoaxer?

Santander's warning shows just how fragile the UK banking sector is – The Telegraph
Ana Botin set out the Santander story on Thursday and her tale made grim reading, particularly for those investing in new banking ventures.

Barclays loses head of European retail banking – Financial Times
Deanna Oppenheimer's departure means the division's responsibility falls back to Antony Jenkins, global head of retail and business banking

NBNK bids £1.5bn for Lloyds branches despite cost of credit – The Telegraph
…but Lloyds Banking Group's attempt to drum up a competitive auction for its 632 branches has been dealt a blow by a sharp increase in the cost of the credit line it has pledged to provide bidders.

Deloitte sued for $7.6bn in US – BBC
Accounting giant Deloitte Touche Tohmatsu is sued for $7.6bn in the US and accused of failing to detect fraud, something Deloitte denies.

FSA staff jump ship as City regulator nears split – The Independent
The Financial Services Authority is losing an increasing number of employees as the City regulator moves closer to being broken up by the Government.

EU looking at banks' online payments organisation – The Independent
European competition regulators are investigating whether a group of banks, including HSBC, Barclays and Deutsche Bank, are blocking the entry of new players into Europe's online payments market, the system used by consumers to buy products online.

Quant trading: How mathematicians rule the markets – BBC
How mathematicians are taking over the markets

 

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About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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...

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