We had a good debate this week about the future for multilateral interchange fees (MIFs) amongst the card companies. The argument made for change by regulators appears to boil down to that the card operators and issuers are ripping off customers by taking percentage fees opaquely. These fees are applied throughout the process, and the…
Two journalistic heavyweights – Patrick Hosking in the Times and Financial Services Club friend Ian Fraser - have highlighted a number of questions that the Treasury Select Committee should ask Sir James Crosby, former Chief Executive of HBOS (now Lloyds), today. Sir James will be appearing in front of the Treasury Select Commitee at 3:30 GMT…
Two journalistic heavyweights – Patrick Hosking in the Times and Financial Services Club friend Ian Fraser - have highlighted a number of questions that the Treasury Select Committee should ask Sir James Crosby, former Chief Executive of HBOS (now Lloyds), today. Sir James will be appearing in front of the Treasury Select Commitee at 3:30 GMT…
Further to the launch of the Clearing and Settlement Working Group (CAS-WG) in the spring (read more here), the Subject Groups have been meeting regularly and have progressed towards building a regulatory risk model to test the impact of new regulations on clearing and settlement infrastructures. This will be discussed in depth at our next…
Further to the launch of the Clearing and Settlement Working Group (CAS-WG) in the spring (read more here), the Subject Groups have been meeting regularly and have progressed towards building a regulatory risk model to test the impact of new regulations on clearing and settlement infrastructures. This will be discussed in depth at our next…
Things we're reading today include … Barclays pressed to shed investment bank Jenkins urged to split Barclays 'Double strike' fear for RBS over Libor fines HSBC Chairman urges bankers to swear an oath UBS fined £29.7m for Adoboli case Trader fights extradition over alleged bond fraud Rainmaker: Don't bet on FSA shorting data UK regulator…
I bet you thought I was talking about Europe's sovereign debt issue but no, I'm talking about the average trade size for equities trading across Europe having just received some fascinating data from the Federation of European Securities Exchanges (FESE). The data shows a considerable change in the European equities markets over the past four…
It surprises me that banks rarely get lauded and applauded, as it is far easier to critique and blast. A good example is the post Hurricane Sandy fallout, where banks in the USA are doing everything they can to support hard hit Americans. I didn’t see much about this in the news generally but, whilst…
Just received a copy of an email from Dominic Thorncroft, Chairman of the UK Money Transmitters Association, that makes for interesting reading. It appears to be related to the issues the bank has faced with anti-money laundering fines in the USA, but the way the bank has handled the problem adds to a growing list of…
