I’m called by a number of people about the BNP Paribas fine today. The fine looks like a done deal of $8.9 billion, and includes the bank admitting criminal charges as well as being banned from US dollar clearing. Why so bad? Because BNP failed to co-operate in the SEC and Federal Reserve’s investigations which,…
I don't write a lot about investment banking and capital markets because the readers of this blog are primarily in commercial, transaction and retail banking, but I am going to write about it today as it seems a real shame how we've killed investment banking. From Barclays slimming down BarCap so fast that it looks…
I don't write a lot about investment banking and capital markets because the readers of this blog are primarily in commercial, transaction and retail banking, but I am going to write about it today as it seems a real shame how we've killed investment banking. From Barclays slimming down BarCap so fast that it looks…
We had our annual debate This House Believes That SEPA Does Matter the other day, and a wonderful debate it was. In previous years, we’ve moved from being on-the-fence about the proposition to moving firmly in its favour: 2010: This House Believed That SEPA DOES Matter (Just) 2011: This House Believed That SEPA Does NOT Matter (Just) 2012: This House Believed That…
I read three interesting commentaries this week about the financial crisis, and it builds upon yesterday’s discussion of Credit Suisse being the first bank for over a decade to admit to criminal wrong-doing in the USA. The first is from Private Eye last week: “The death of Charles Keating, synonymous with the US savings and loan scandal…
I read three interesting commentaries this week about the financial crisis, and it builds upon yesterday’s discussion of Credit Suisse being the first bank for over a decade to admit to criminal wrong-doing in the USA. The first is from Private Eye last week: “The death of Charles Keating, synonymous with the US savings and loan scandal…
There have been a few major headlines lately about the American fines of banks. I’ve blogged about some of them like Standard Chartered and HSBC, but the news has recently seen several more major headlines such as Credit Suisse today being fined $2.6 billion for criminally aiding US citizens in tax evasion (watch my interview on Bloomberg…
There have been a few major headlines lately about the American fines of banks. I’ve blogged about some of them like Standard Chartered and HSBC, but the news has recently seen several more major headlines such as Credit Suisse today being fined $2.6 billion for criminally aiding US citizens in tax evasion (watch my interview on Bloomberg…
I was lucky to chair this year's International Payments Summit in London, and a lot of talk was about regulation. The organisers are kind enough to summarise the debate so here's a snapshot from their 12-page conference summary report (if you want more, then come to next year's meeting 😉 … free places for Corporate…
I was lucky to chair this year's International Payments Summit in London, and a lot of talk was about regulation. The organisers are kind enough to summarise the debate so here's a snapshot from their 12-page conference summary report (if you want more, then come to next year's meeting 😉 … free places for Corporate…
