Money-laundering scandals have dealt another blow to the reputation of Europe’s financial architecture. Does the EU stand any chance of convincing the rest of the world that it is getting tough on financial crime and fixing the leaks in its system?

Huge fines, criminal investigations and public opprobrium are the consequences of big anti-money laundering failures at banks, but what about the regulators? The reluctance of fellow EU supervisors to criticize one of their own in Denmark has heightened doubts about Europe’s AML framework.

Regulators, politicians, competition authorities and central bankers have all been outlining objections to the Libra project from the first day Facebook announced plans to let its 2.4 billion users exchange payments in a new virtual currency. Don’t be taken in. Facebook wants the burden of compliance with all those KYC, AML and CFT rules. Being able to identify what its users are paying for is a treasure trove. The banking system and the world’s central banks, as the more enlightened already see, had better gear up for new competition.

Private banks across the world are changing fast, placing greater emphasis than ever on a host of key factors. The best wealth managers are busy boosting inclusivity, emphasising technology and security, and ensuring they are on-point when it comes to meeting compliance needs.

Any market sell-off in advance of coming recession will raise the cost for banks of holding their customers’ cash and make them look again at open banking.

Introduction of the GST and demonetization mean Jaitley had a far bigger impact on Indian finance than his single term as minister would suggest.

Fifth Third is the latest US regional bank to grasp an opportunity to build out its investment bank, by bolting new expertise on to an area in which it already has a strong presence.

The gradual erosion of institutional credibility could prove more damaging to Turkey than economic and political shocks.

The regulators want overnight rates to become the norm in all markets after Libor – that could be wishful thinking.