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The process to save the world's oldest bank, Monte dei Paschi di Siena, has dragged on long enough to feel like it may have been, appropriately perhaps, the world's longest winded bank rescue. For such an investment of time and manpower, the fact that the final resolution is a large bill for the Italian taxpayer is disappointing. -
The Basel Committee was a wonderful idea when was first convened. But with bank liquidity measures becoming more difficult to codify and different jurisdictions going their own way on a number of issues, the idea behind a united global banking standard might soon become irrelevant.
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Surely peak chastisement of the financial services industry was reached this week when the Bank of England berated UK lenders for using what by any standard must seem prudent risk modelling.
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Bank of England governor Mark Carney’s caution on the UK economy in his Mansion House speech on Tuesday could be an early warning for the UK RMBS market that the Term Funding Scheme (TFS) won't end soon, an unwelcome development for supply starved investors.
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A trend in the US over the past couple of years has involved securitization issuers doing everything possible to avoid using the term subprime. Such verbal chicanery does their market no favours.
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Financial analysts and investors trying to make sense of what the UK general election result means for the upcoming Brexit negotiations should take a step back and ignore what they read for some time. The British government is clueless on its approach to Europe.
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Education Secretary Betsy DeVos has clearly demonstrated that she’s not working in the interests of American students, and Senator Elizabeth Warren’s call for a watchdog to hold her accountable is sorely needed.
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Banking is the business of confidence and trust. While the real work of cleaning up balance sheets is important, being seen to act swiftly, decisively and comprehensively is just as important. Impressions matter — whatever the underlying reality.
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The European securitization industry’s “simple, transparent and standardised” regulatory framework has finally been pushed through, with industry practitioners as well as supportive bureaucrats in Brussels saying it will help boost the flow of lending to Europe’s small and medium enterprises (SMEs). Time will tell if those businesses actually feel the benefit.
