I was proud to host Charlie McCreevy at the Financial Services Club last night. Here’s the full text of his speech: The Financial Services ClubLondon, 2nd October 2008 Ladies and Gentlemen, Thank you for inviting me to address you this evening on MiFID, the Single Euro Payments Area and the Payments Services Directive. These are…
Further to my earlier blog about cover payments, I had a fascinating conversation with a banker who is heavily involved with the changes to cover payments regulations. He asserted several times that the focus upon cover payments will cost some banks $500 million each. $500 million. Half a billion. I asked how that could be,…
With SEPA, the PSD and MiFID all paling into relative insignificance as the major banking markets explode globally, there are questions about whether the European plan will succeed or is even needed now. Therefore, I’ll be really interested to hear what Commissioner Charlie McCreevy has to say when he launches the 2008-09 season of the…
With SEPA, the PSD and MiFID all paling into relative insignificance as the major banking markets explode globally, there are questions about whether the European plan will succeed or is even needed now. Therefore, I’ll be really interested to hear what Commissioner Charlie McCreevy has to say when he launches the 2008-09 season of the…
Last week was probably the most dynamic and heartstoppingly frightening any of us have seen in our lifetimes in financial services. The fact we were all in Vienna, and therefore somewhat protected from the ups and downs of Wall Street and the City, did not make it feel that much better when you return to…
Last week was probably the most dynamic and heartstoppingly frightening any of us have seen in our lifetimes in financial services. The fact we were all in Vienna, and therefore somewhat protected from the ups and downs of Wall Street and the City, did not make it feel that much better when you return to…
Last week was probably the most dynamic and heartstoppingly frightening any of us have seen in our lifetimes in financial services. The fact we were all in Vienna, and therefore somewhat protected from the ups and downs of Wall Street and the City, did not make it feel that much better when you return to…
Bank of America, Merrill Lynch, Lehmans, AIG, HBOS, Lloyds TSB … and the week ain’t over yet. Add in a few other names: Bear Stearns, Northern Rock, Dresdner, Commerzbank, Deutsche Bank, Postbank, RBOS, Fortis, Santander, ABN AMRO … and more, and we can see a massive restructuring taking place in European and American banking. Some…
