No, it’s not about flagellation and sado-masochism, although the current regulatory regime is not far off that. It’s also true that the regulatory regime is pretty mind-boggling these days, with fifty shades of interpretation of fifty shades of law. This was made clear to me in dialogue with a group of European banks involved in…
I just updated the LIBOR timeline with what's happening this year when five currencies are discontinued from LIBOR publications. In case you missed it, here's what's happening. At the end of the LIBOR timeline, the British Bankers’ Association (BBA) alerted me to their response and recommendations in light of the Wheatley review. The Wheatley review…
I just updated the LIBOR timeline with what's happening this year when five currencies are discontinued from LIBOR publications. In case you missed it, here's what's happening. At the end of the LIBOR timeline, the British Bankers’ Association (BBA) alerted me to their response and recommendations in light of the Wheatley review. The Wheatley review…
After discussing the economic backdrop, with a hot South America countering a consumerising Asia, it’s time to move on to looking specifically at the banking outlook, which is grim. Or is it? Obviously there’s a major flow of regulatory change with ring fencing, Volcker and Dodd-Frank all rumbling onwards and upwards, whilst European Market Infrastructure…
At the start of the year, I always make a few predictions about what will happen in the following year. Watch this blog in January for 2013’s predictions. But what were the predictions for 2012? Well Economically, I made the following forecasts: Asia’s light continues to shine, but not quite as bright American equities is the place…
At the start of the year, I always make a few predictions about what will happen in the following year. Watch this blog in January for 2013’s predictions. But what were the predictions for 2012? Well Economically, I made the following forecasts: Asia’s light continues to shine, but not quite as bright American equities is the place…
I was asked to give a pre-dinner speech by SAS for a group of Chief Risk Officers (CRO’s) in Amsterdam recently. Here’s the speech. Good evening ladies and gentlemen. I wasn’t sure how to start this evening, and decided to begin with the collective noun for a group of CRO’s. You are collectively known as a…
We had the final 2012 plenary meeting of the Financial Services Club Clearing & Settlement Working Group (CAS-WG) yesterday. Well attended by industry luminaries, the debate was all about the usual stuff: regulations, standards, risk, issues, frustrations and opportunities. What was particularly interesting for me is that we now have three subject groups working in…
David Bermingham was another recent guest at the Financial Services Club. David was one of the NatWest Three, the three bankers who worked for NatWest in the 1990s and got caught up in the Enron scandal. What happened and how come David ended up in an American jail when he's a British citizen? Well, after presenting…
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