North America

August, typically a slow month for capital markets, was a fruitful one for alternative reference rates (ARRs) to Libor.

Delusional clients are complicating the business of collecting fees for advising on mega trades for customers such as Saudi Aramco and Tesla.

With appreciation of the merits of dynamic discounting continuing to grow, attention has turned to the extent to which banks are committed to supporting this growth and how to maximize the value of the data generated.

Traders have been staying away from the Turkish currency this year as they watched a steady decline in its value against the dollar, but the recent deterioration of relations between Turkey and the US sent the currency spiralling into a full-blown crisis.

Undeterred by the SEC’s recent disapproval of bitcoin ETFs or cryptocurrency price falls, Circle is intent on building a framework for the tokenization of finance with its stablecoin as the next big step.

Regulatory change, cost pressures, advances in technology and more-demanding customers: treasurers have a lot on their minds, but artificial intelligence (AI) is here to help.

The smooth chief executive transition at Goldman Sachs will increase scrutiny on the potential succession to Jamie Dimon at JPMorgan.

If JPMorgan CFO Marianne Lake becomes the banker most likely to succeed Jamie Dimon as chief executive before mysteriously deciding to pursue interests outside the group, she will be in good company.

Retail investors are pulling out of ETFs – or are they?

Stock coverage to double, says partner; hiring spree turns to the US.

Just ten years after the crisis, banks' confidence about regulatory easing is worrying

US asset manager sets sights on Germany with new direct lending fund.

Rules-based order routing (RBOR) has become a useful tool for achieving increased trading efficiency, although it does not automatically guarantee best execution.

The case for smaller deals is clear, but pressure is building higher up the food chain as well.

The Royal Bank of Canada is appealing a judge’s scathing verdict that it sacked a former trader in London for blowing the whistle on lax compliance, citing a ‘robust compliance culture’.

One perk of interviewing banks about sustainable finance has to be the building tours taking in recycled carpets and in-building power plants, but it is not often that you get treated to a rooftop tour of bee hives.

Euromoney was an accredited reporter at the Trump-Kim North Korea-US summit in Singapore in June.

Equity capital markets moves at Citi and BAML say more about the two firms than they do about ECM.

One big deal might kick off a new round of mergers, but the risk of over-paying remains.

Deutsche Bank’s failure of the recent Federal Reserve stress tests drew attention, but while the regulator was happy to kick the battered European bank while it is down, this was in stark contrast to its treatment of favoured home-town players Goldman Sachs and Morgan Stanley.

Europe may not be enough after Trump’s withdrawal from the Iran deal.

A wave of regional mergers will be the nail in the coffin of the small banks and credit unions.

Private equity house takes stake in UK payments processor

As treasurers and banks grapple with the arrival of real-time payments and open banking, tech companies are looking at the next phase of payment developments.

Higher merchant fees are creating issues for corporate treasurers, who are concerned with the lack of alternatives in the market.

As they rapidly lose market share, investment banks must evolve their capital markets businesses.

Goldman Sachs delivered strong first-quarter trading results that were followed by a reorganization of the management of its securities division.

The coming move towards a Volcker Rule 2.0 that relaxes monitoring of proprietary risk taking by bank dealing desks has been portrayed as a result of president Donald Trump’s administration finally placing its preferred officials in key regulatory positions.

Banks face a payments dilemma of either collaborating with fintechs or developing systems in-house, and the same issue is now arising in the approach to regulation and the best way to digitize compliance.

AT1 contingent capital bonds are entering their second generation; issuers have begun refinancing the $200 billion asset class, but just two years ago the market looked close to collapse. What took it to near disaster? And how did it escape?