The merger, 20 years ago, of Chemical and Chase ushered in the era of global banking. It was driven by competition from growing regional competitors, the threat of disintermediation, technological challenges, capital constraints, the desire to serve clients more efficiently and, above all, the need to boost returns to shareholders and unlock value. Those challenges sound all too familiar today. So why aren’t more banks looking at consolidation as a way to beat the post-financial crisis blues?

For several years, bank chief executives have harmed their credibility by promising medium-term earnings targets that they have never come close to hitting. Some have been ousted as a result. No more. In 2015 and beyond, 10% is the new 15% when it comes to projections of future returns on equity. Few are even hitting that lower target, which barely covers their cost of their equity. But there are signs that investors are starting to see the value in lower, less risky, more sustainable returns. And capital costs are falling. Could this be the end of the ROE roller coaster?

Rich in resources, Mongolia has yet to find a way to mine them in such a way to enable the country to throw off its communist legacy. There are high hopes the new head of the state investment bank may be the man for the job.

Look beyond the gyrations of its stock markets, and you can see one thing clearly in China: equivocation. The regime of Xi Jinping is fundamentally flawed because of its public espousal of the markets, but private refusal to cede any real control. Optimists hope the latest crisis could be the impetus for real reform. Most experts warn investors hoping for a recovery in their stock purchases not to hold their breath

Brazil deal lifts Bradesco; UK bank fights to retain Mexico.

No start date for project; canal would turbocharge GDP.

Parallel FX rate rockets; default more and more likely.

The return of market volatility in late August put a focus on asset managers, with investment banks for once ceding the spotlight during a period of turmoil. There will surely be some bank trading mishaps, but the main threat to revenues is likely to come from diminished demand for investment products rather than dealing room blow-ups.

Current and former governors trade blows; Mahendran and Cabraal at loggerheads.

Indonesians hold $300 billion in Singapore; controversial tax amnesty on the cards.

Growing allocation to alternatives; 'tourists’ drive spread compression.

Bankers upbeat on issuance; inflows diverge with US.

Questions over Chicago; moral obligation bonds may carry more risk.

Market propped up by $200 billion in July and August; brokerage probes undermine drive to reform.

Chief executive admits concerns; equity trading planned for 2016.

Large funds will dominate; banks offer increasingly aggressive structuring.

CEO: ‘We’re ready for World Federation’; on FTSE Frontier index watchlist.

$5.8 billion bill for loan conversion; portfolios ‘impossible to price’, say analysts.

It is time for Brazil’s central bank to encourage some competition and shake up the cosy world of its domestic institutions.

In establishing its sovereign wealth fund, Mongolia had a wide range of forebears to learn from. Singapore’s Temasek may not be the best choice.

Banks and corporates have continued to ratchet up foreign-currency borrowing over the past two years. The big lira sell off this summer amid a local political crisis highlights how much higher funding costs could bring trouble for Turkish banks.

Tighter dollar liquidity will be bad news for emerging market banks and their lending boom of recent years is about to grind to a halt.

Lenders were offered a valuable real-life stress test in late August, when investor concerns about the Chinese authorities’ bungled response to slowing growth in China following the devaluation of the yuan led to plunging Chinese and world equity prices, slumping commodity valuations and spikes in volatility across currency and securities markets.

Foreign banks can tap energy boom; infrastructure and agriculture also in focus.

$1 billion cut in revenues from 2016; regional banks and fund houses must respond.

Fineco share price shoots up; rivals set up similar businesses.

To recognize the increasing importance of corporate social responsibility, Euromoney reveals the winners of its inaugural Achievement in CSR Awards.

Last year, US Reits racked up total returns of 27.15%, the third time in five years that returns had hit at least 20%. But as expectations mount that the Fed will hike interest rates returns have turned negative, retail investors in non-traded Reits could still get hurt.

Record cross-border investment and the revival of both institutional and bank appetite for real estate mean that the asset class is enjoying a Goldilocks moment. How long will it last this time?

Find out which companies are rated the best developers, advisors and banks in global real estate in the latest instalment of Euromoney’s Real Estate Awards.