Joachim Nagel, who sits on the board of German state owned development bank KfW, has been appointed deputy head of the banking department at the Bank for International Settlements (BIS).

The UK and US completed formal trade talks on May 5-15 and reported good progress, with the next round of negotiations scheduled to take place on June 15-22.

The Covid-19 pandemic has shown European banks the “art of the possible” as they responded in record time to the fast evolving crisis, and consultancy McKinsey argues that this mindset is integral to these institutions reinventing themselves within the next three years. 

In an assessment of bond market transparency over two years after the markets in financial instruments directive (MiFID) II came into force, the French securities regulator, Autorité des Marchés Financiers (AMF), found there are still too many gaps in the needed data to gain a full picture of market activity. 

Officials at the US Federal Reserve fear that the dramatic economic slump accompanied by the fastest pace of job losses in the country’s history due to measures to contain the Covid-19 pandemic could threaten financial stability. 

Commercial banks have waded into the Bank of England policy-makers’ debate over the possibility of imposing negative interest rates, warning that it would crush their earnings and diminish their ability to absorb an expected avalanche of bad loans as a result of the coronavirus crisis. 

China is taking a zero-tolerance stance towards financial fraud, insider trading and market manipulation, warned Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC) at a national investor protection day event.

Ashley Alder, the CEO of the Securities and Futures Commission (SFC), who was due to step down in September, will stay in charge for another three years, according to the Hong Kong government.

Bénédicte Nolens has been appointed to head the Bank for International Settlements (BIS) Hong Kong innovation centre for three years starting July 1, 2020.