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Surprising alignment on stablecoins and strong support for tokenised assets, but details are sparse
US broker has opened office in Milan, Stockholm will be next
Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
'Maybe in hindsight disintermediation would have worked better'
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Mexico’s deputy finance minister Gabriel Yorio told GlobalCapital on Wednesday that a block of Latin American countries was forming to ensure that the plight of middle-income economies was not forgotten as the world looks for ways to alleviate financial pressures on developing countries. -
The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.
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Société Générale said on Wednesday that it was looking to sell its asset management arm Lyxor to French investor Amundi. The transaction will wrap up a three year restructuring programme, which has added up to 90bp to the bank’s capital ratios.
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The UK government is planning to tighten the energy efficiency ratings required for buy-to-let mortgages, phasing in the changes through to 2028, but some mortgage lenders are implementing the rules early. The result could mean more collateral for green structured finance transactions as well as a lower risk of default.
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Credit Suisse has begun an overhaul of its leadership following the collapse of Archegos Capital, as well as losses from the bank’s ties to Greensill Capital. The Swiss lender has cut dividend payments by two thirds, and slashed bonuses for senior executives.
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Investors were relieved when Credit Suisse finally gave details this week about the damage it has suffered from its Archegos exposures. The losses were higher than expected, but they were not large enough to burn completely through the Swiss bank’s capital cushion.
