Posted on March 25th, 2009 by Tom Groenfeldt
Holman Jenkins of the Journal quotes Warren Buffett on the destructiveness of mark to market accounting for regulatory purposes and goes on to explain:
“Banks can be forced to raise capital when capital is unavailable or unduly expensive; regulators can be forced to treat banks as insolvent though their assets continue to perform.
What happens next is [...]
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Posted on March 25th, 2009 by fabien buliard
Mobile banking is the way of the future. At least, that is the conclusion of a recent study conducted by pollster Novametrie, and commissioned by the European Financial Management Marketing Association, Crédit Agricole, Microsoft and CapGemini Consulting.
Based on a Pan-European survey of 5,000 online banking users and of about forty banking and mobile phone luminaries, [...]
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Posted on March 24th, 2009 by Tom Groenfeldt
More than 500 people attended the FIX Protocol EMEA Trading conference in London last week, making it the largest financial services conference in London so far this year and delighting the organisers.
If there was a pervasive theme at the conference it was that the buy-side has to become more active in the business, from helping [...]
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Posted on March 16th, 2009 by fabien buliard
Remember the story that emerged last October about French president Nicolas Sarkozy having his bank account siphoned, or as some hastened to conclude, “hacked into”? Well, as expected, it turns out the scam is far less sophisticated than initially suggested, especially by our friends the vendors of security technology.
In fact, the fraud originated at a [...]
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Posted on March 13th, 2009 by Tom Groenfeldt
The FSA’s new rules on liquidity management threaten to overload banks with reporting that the regulator won’t be able to understand while missing the source of the current financial crisis, said panelists at a Financial Services Club Capital Markets forum on 10 March.
Because the session was conducted under the Chatham House rule, this commentary doesn’t [...]
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Posted on March 11th, 2009 by Tom Groenfeldt
“… in connection specifically with the financial crisis, the main point is about what appropriate patience might look like where various financial and commercial enterprises are concerned. The loss of a sense of appropriate time is a major cultural development, which necessarily changes how we think about trust and relationship. Trust is learned gradually, rather [...]
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Posted on March 9th, 2009 by Tom Groenfeldt
From the G20 web site:
The G20 also plays a signficant role in matters concerned with the reform of the international finacial arcitecture (sic) …
Well, it’s a relief that such competent folks are in charge ….
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Posted on March 4th, 2009 by Tom Groenfeldt
It wasn’t so long ago – maybe a year or 18 months – that the light-touch FSA approach to regulation by principle seemed so much more enlightened than the SEC’s lawyer-intensive style with fat volumes of rules. I contrasted the FSA approach favourably to the SEC several times in various blogs.
Now, that makes you nostalgic [...]
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Posted on March 4th, 2009 by fabien buliard
First announced toward the end of Sibos 2008 in Vienna, Swift’s partnership with the reinsurance industry marks a further extension of the co-operative’s reach beyond the banking industry.
A pilot involving three reinsurers – Swiss Re, Munich Re, and Scor – and two brokers – Aon Benfield and Willis, is scheduled to begin in May. The [...]
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