Yet another attempt is being made to breathe life into the EU’s CMU. This time it is 17 recommendations from a high level forum, most of which have been well received by industry with the baton now passed to the European Commission to act on them
Experiences of previous crises could give clues to the scale of bank losses
With the global economy in the throes of a new crisis and with bad bank loans expected to pile up, previous crises could still serve as a good guide as to how bad the damage will be even though this crisis is somewhat unique.
Exchanges push to limit SIs' role as part of MiFID review
In a Federation of European Securities Exchanges webinar, some speakers called for the activity of systematic internalisers to be reined in further, for undermining transparency and price formation. By Justin Pugsley
US negative interest rates would hurt banks, warns Goldman Sachs
With the US economy facing its worst crisis since the Great Depression, the US Federal Reserve has discussed imposing negative interest rates, a move Goldman Sachs says would damage the banking sector
KfW’s Joachim Nagel appointed as a deputy head at BIS
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).
UK-US trade talks progress well with more scheduled for June
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.
Response to Covid-19 pandemic shows European banks can act quickly
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.
AMF still sees transparency issues in French corporate bond market
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.
FOMC reveals Fed worries about financial stability
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.
Banks alarmed over the possibility of negative UK interest rates
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.
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