The Brazilian government’s changes to the laws governing its tax-exempt debentures have allayed financial market fears that president Lula intends to rely on BNDES to fund billions spending on infrastructure, crowding out private-sector finance.

In the wake of heavy losses and mis-selling to retail investors, there is an urgent need for an overhaul of risk management in the banking sector.

Former bank examiner Alessandro DiNello stresses resiliency of deposits as NYCB strives to build capital after higher provisions and ratings downgrades.

No industry will be more overwhelmingly affected by new forms of artificial intelligence – both generative-AI and other technology to come – than banking. Costly but cost-effective, it is up to banks to make AI work for them, not the other way around.

A recent rule change means that Brazilian banks will be able to use tax credits related to provision expenses sooner – and the impact could be material.

Investors will be hoping that the fall in the value of Bitcoin since US regulators approved the listing and trading of spot Bitcoin exchange-traded products is not a sign of things to come.

After a dire couple of years, the hope had been that the only way was up for US regional bank M&A. But this week’s trauma at New York Community Bank has demonstrated some of the problems that can catch out the unwary as expansion takes them into new regulatory territory.

As Beijing works to underpin the equity market, China's fund houses and investment banks are betting on exchange-traded funds as the next big thing. That reflects a market corseted by regulation, where limited options compel a collective herd mentality.

Losses on commercial real-estate loans at US regional banks should surprise no one; risk at the heart of the US financial system thanks to weak regulation should shock us all.

Extracting value from Russia via a stake in Strabag previously owned by Oleg Deripaska shouldn’t be confused with a proper disentanglement from Russia by Raiffeisen. The main impetus for the transaction may, in fact, lie with Deripaska and Strabag’s other shareholders.

Abu Dhabi and Dubai sell themselves as international hubs for tech companies, with new initiatives to support start-ups and scale-ups, but rules around eligibility for equity listings will hinder the Emirates’ tech sectors if they aren’t changed.

Banks need to start quantifying the legal risks of both climate action and inaction.

The SEC wants us to be thinking about special purpose acquisition companies again.

Wall Street bankers tempted to pick a fight with the Federal Reserve should take a lesson from the insider trading plea deal by investor Joe Lewis.

Opposition to the proposed Basel III endgame for US banks is now so widespread that a climb down by the Federal Reserve is likely. Wall Street bankers like Jamie Dimon can stop crying wolf about increased capital requirements and think carefully about publicly threatening their regulators.

While the world’s biggest markets are still preparing for T+1 settlement, talk is growing of the next step – but going any faster would mean a total reworking of how markets function.

It is not hard to find short-term worries over global markets’ state of readiness for the US’s transition to one-day settlement in late May. But even if the UK, Europe and those Asian markets still using two-day settlement can adapt to the shift in the longer term, they will also face intense pressure to lessen their dislocation from the US cycle by copying its move. Many also fear the ultimate end-game of same-day or even instant settlement.

The Sino-Swiss corridor, set up to encourage Chinese firms to sell global depositary receipts to international investors in the European state, took off fast in 2022. But a host of challenges, from Chinese regulatory concerns to an apparent lack of global interest, has stalled its progress.

Appealing to issuers by removing investor protections makes no sense when London’s decline as a listing venue stems from domestic investors abandoning the UK market.

It has become fashionable to describe private credit as an opaque and fast inflating bubble that could bring crisis to the global financial system. But in Asia even banks and regulators hope it will grow to bridge the yawning financing gap.

Regulators are making more mileage out of their settlement with Morgan Stanley than the outcome really deserves.

Morgan Stanley has for years touted its expertise and adherence to confidentiality as reasons to choose it over rivals for equity block trades. But charges brought by regulators over leakages of confidential information by the bank’s former head of US equity syndicate and another employee now make its historic claims look embarrassing.

The London Stock Exchange Group’s head of sustainable finance strategic initiatives wants climate data to redefine the act of indexing.

The World Bank is issuing ‘outcomes’ bond structures for niche sustainability themes and with new financing mechanisms. Like blue bonds, they are probably going to need some rule-setting.

Ambitious brokerage firms have precipitated a shift in demand for FX licences, with interest in regulated European and Asian markets on the increase at the expense of offshore jurisdictions.

A team of once-public sector bankers and officials is launching a new private equity fund that aims to identify ‘climate winners’ from the transition to a decarbonized economy. It has identified key industries but its central thesis is regulation.

Outgoing supervisory chair Andrea Enria warns against ‘complacency’ – despite higher capital ratios at eurozone banks – as he announces new requirements on banks to tackle investment-banking leverage, liquidity shortages and leveraged finance risks.

Outside Switzerland, European banks largely escaped the banking turmoil last March. That hasn’t prevented supervisors using it as an excuse to ratchet up the pressure. Ahead of its 10th anniversary as a supervisor, is the ECB – as some bankers suggest – getting too intrusive?

Restrictions may come at a cost as MSCI considers developed market status.

Regulators are starting to take a more messaging-based approach to sustainable finance, but stopping greenwashing won’t automatically lead to a transition to net zero.