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Foreign Exchange

Speculators smell blood as Danish peg comes under fire

After the shock removal of the Swiss peg to the euro, speculators are testing the DKK peg, though, for now, the central bank is well-placed to withstand the pressure.

Solomon Teague, February 11, 2015

CAPITAL MARKETS

Money markets: Short-term bank funding costs hit by Fidelity move

Prompted by new SEC rules, the largest prime money market fund in the US will switch to a government mandate. The move might herald the transformation of the $1.7 trillion prime MMF industry.

Louise Bowman, February 11, 2015

BANKING

Swiss franc unpegging hits private banks

Julius Baer fares worse than UBS and CS; small private banks’ M&A escape hampered.

Helen Avery, February 11, 2015

Treasury

Banks urged to improve compliance-burden cooperation

Onerous KYC regulations are imperilling trade financing and the flow of credit to emerging markets. It is high time banks boost cooperation, aided by technology, to address the challenge, as industry efforts are found wanting, say treasurers.

Rebecca Brace, February 11, 2015

WEALTH

Swiss banks launch cost-cutting drive

Euromoney's Private Banking Survey 2015 highlights that large Swiss banks expect to redouble efforts to cut costs amid Swiss-franc volatility – a move confirmed by bank earnings statements this week.

Helen Avery, February 11, 2015

Opinion

Off the record

"Why not just give us one piece of paper saying banks can’t trade fixed income derivatives on a non-clearable basis?"

February 11, 2015

Opinion

Euromoney behind the Iron Curtain

We at Euromoney would never claim credit for Romania’s dramatic 25 year shift from the deepest, darkest communism of the Ceausescu era to today’s EU membership and its knocking at the euro’s door, but we’ve been fascinated to learn we’ve had a modest role in its economic transformation.

February 10, 2015

Opinion

Red card for Turkish football fans?

In Euromoney’s December 2014 issue, we described in detail how Bank Asya had become a political football in Turkey. Politics and banking now seem to have combined to create a row in Turkey’s football community as well.

February 10, 2015

Opinion

Heron serves up irresistible dish to Bradesco

Brazilian bank Bradesco opens its London office on February 9. A small delegation of senior bankers from the bank’s Brazilian headquarters will fly over to mark the occasion.

February 10, 2015

Opinion

Abu Dhabi Santiago Bernabeu: Oiling the wheels of footie

The news that Abu Dhabi’s International Petroleum Investment Company has secured naming rights to Real Madrid’s home ground – turning it into the Abu Dhabi Santiago Bernabeu – represents an interesting branding exercise. Sovereign wealth funds rarely seek brand recognition: usually quite the reverse.

February 10, 2015

BANKING

Australia: More questions than answers in the Murray Report

Everyone was a little nervous at the contents of the first inquiry into the nation’s financial services industry in over 25 years. It isn’t as traumatic as most feared, but it leaves some important issues unanswered.

Philip Moore, February 10, 2015

CAPITAL MARKETS

Latin America: Copper-bottomed Chile wrestles with risk

Tax reforms from Chile’s new, left-leaning government are having an unsettling effect on the economy, which is also suffering from a plummeting copper price. The country’s new president is looking next to tackle inequality with further reforms, but as a result the pressure will ratchet up its strong credit rating.

Rob Dwyer, February 10, 2015

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