China’s cautious approach to internationalisation of the renminbi may infuriate foreign governments, but it is providing banks and corporates with a smooth transition to development and adoption of RMB denominated products. Ian Forbes reports “The dollar is our currency, but your problem,” said the then US treasury secretary, John Connally, to a European delegation in [...]
How relevant does the banking industry think it is in the future of money? Will developments in digital currencies and mobile banking and payments cut banks out of the loop? Heather Schlegel, innovation leader, member of the innovation team, Swift We are at the dawn of a new age of money. Shifting values and a [...]
As exchange consolidation continues, is there a risk that the larger exchanges will create even more systemic risk? How can this be avoided and what impact does the shifting exchange landscape have on transaction banks and post-trade infrastructures? Goran Fors, global head of custody, SEB Merchant Banking Exchanges have been consolidating for quite some time. [...]
What regulatory intervention in the governance of market infrastructures is optimal? In his latest book, Running the World’s Markets, Ruben Lee sets out some general propositions about how best to regulate governance The propositions are not intended to be a comprehensive set of rules for deciding how regulators should intervene in the governance of market [...]
Electronic trade confirmation has been a goal for some time, but Frances Maguire looks at how well established it is in the market and how close the industry is to achieving global ETC capabilities The use of electronic trade confirmation (ETC) for equities is slowly increasing. Both Omgeo and Swift report rising numbers of electronically [...]
With ambitious plans to add more corporates to its network, Swift is now turning attention to corporations in emerging markets. Sherree DeCovny looks at the progress to date Several years ago, corporates were allowed to join Swift through closed user groups, but getting a critical mass on the network has been a long, slow process. [...]
If anyone doubts the need for regulators to take tighter control of the financial sector, then Iceland’s experiences should provide a salutary warning. Years of rapid growth from 2003 ended abruptly in September 2008 when 98 per cent of market capital was wiped out and the country’s three largest banks collapsed. A small, under-funded and [...]
Regulation continues to dominate the agenda for financial institutions. The devil will be in the detail, writes Heather McKenzie It was inevitable that in the wake of the 2008 financial crisis, a wave of new, tougher regulations would wash over the financial markets. Attempts to make the markets safer, more resilient and more transparent, and [...]
How well does the correspondent banking model work today? How can the model be improved? Daily News at Sibos asked the experts Wim Raymaekers, head of banking market, Swift The traditional correspondent banking model is under siege. Real-time transactions and information flows are increasingly ubiquitous and innovative peer to peer payments solutions are spreading. By [...]
Nicholas Pratt examines how risk dashboards and scorecards are being used to make complex risk data accessible to regulators, senior management and corporate clients It is possible to pinpoint the day, if not the hour, that risk management suddenly leapt from the depths of the middle office to the middle of the boardroom. 12 September [...]
