Shutdown at the SEC: what you can and can’t do
These are quiet times at the US Securities and Exchange Commission. Since the shutdown of the country’s government began on December 22, the SEC, like other government agencies, has been operating on a skeleton staff. Of its roughly 4,400 employees,...
SCA rules threaten existing PSP-merchant relationships
By Anna Fedorova SCA rules imposed under the revised Payment Services Directive (PSD2) are forcing payment service providers (PSP) to reassess their relationships with merchants based on their fraud rates. Andrea Dunlop,Paysafe Under the new EU-wide rules, remote card-based transactions...
Banks need to challenge fintechs by playing the same game
For many large banks, the greatest challenge they face is how to unshackle themselves from their legacy infrastructure and move forward using new, customer-centric technology. In a new report titled ‘Time to start again’, consultants Oliver Wyman explain that the...
Citi issues its first green bond
Citi issued its first green bond on Tuesday – a €1 billion three-year fixed-rate note. The bond was larger than anticipated, and oversubscribed, pricing at mid-swaps +58 basis points – in from the initial +75bp area. The bond will fund...
Macri, the economy and Dutch disease: Argentinian angst
Ever since I first met with members of Cristina Kirchner’s administration – the henchmen that populated the state banks and ministries – I’ve been privately supporting the forces of their opposition. That the ultimately successful opposition transpired to be a...
Germany banking: NordLB shows urgent need for reform
Publicly owned regional wholesale banks were part of the financial architecture behind Germany’s post-war economic miracle. However, globalization and European integration – especially the advent of a stronger EU single market and competition framework – has rendered the Landesbanken increasingly...
LatAm banking: Keep an eye on the Andeans
COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER: CHUNT@EUROMONEY.COM By: Published on: Monday, January 21, 2019 They aren’t making headlines – for the right reasons. Brazil’s banks – and Brazilian assets generally – have been rallying as new...
Chinese high-yield borrowers face refinancing crunch
Moody’s released the latest series of its Asian Liquidity Stress indicator earlier this month and found it at the highest level on record, 38.6%. Evaluating that number in its own right is arcane, but what is significant is that it...
HSBC finds blockchain drastically improves efficiency of internal payments
HSBC announced on Monday that during the past year it has been orchestrating more and more cross-border payments between the various balance sheets within the federation of separately capitalized banks that make up the group using a new technology. This...
Banking: What Santander’s failure to appoint Andrea Orcel as CEO means for the industry
Andrea Orcel and Ana Botín Andrea Orcel’s eventual non-appointment as chief executive of Santander will, in time, rank high on the list of dysfunctional succession plans in an industry known for some spectacular failures. Jaws hit the floor in September...