The Basel committee is shocked – shocked! – that some banks might be reporting inflated leverage ratios.

The Fed chair has made a remarkable, virtually unconditional surrender to opponents of his plan for Basel III implementation in the US. The tactical withdrawal is embarrassing, but it makes strategic sense.

With some big deals launching this week, Europe’s IPO pipeline is flowing at last. If they do well, they should put to bed the notion that ‘private IPOs’ are what is needed to provide exit routes for sponsors. A handful of recent deals shows that the biggest driver of success is doing the simple things well.

The UK Chancellor has big plans for the tech sector.

Thinner margins across the banking industry hit smaller banks harder. But investor pressures are also less of an issue for mutually owned lenders.

Luring star bankers from rivals – like Citi’s appointment of JPMorgan veteran Viswas Raghavan – can bring hidden costs beyond the expense of replacing stock options for the lucky new hire.

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.

The newest ESG trend in retail banking might be a niche offering for now, but all banks will have to take it seriously someday.

Chinese fintech Ant Group has offered UBS a reported $250 million for Credit Suisse’s China joint venture, outbidding Citadel Securities. It is a timely reminder that despite its current malaise, Asia’s largest economy is still a great long-term place to invest.

There are sensible elements to CEO Slawomir Krupa’s plans for Societe Generale, but their communication needs attention.

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.

Chief executive Jane Fraser has been true to her promise of a marquee hire to run Citi’s banking division, with the appointment today of JPMorgan veteran Viswas Raghavan. He brings a wealth of both transactional and operational management experience, but the symbolism of his arrival may be just as important.

Diego De Giorgi’s arrival as Standard Chartered’s CFO coincides with a shift away from asset shrinkage and a “final push” on digital transformation.

Even after the rally on its latest restructuring plan, investors still value the UK bank at such a wide discount to book that management must consider radical action.

Barclays chief executive CS Venkatakrishnan intends to stop a low-returning investment bank from dragging the rest of the group down with it. He argues that most of the improvements are within the bank’s own grasp. That is debatable, and in any case hardly reassuring.

Direct lenders commanded generous terms on leveraged buyout financing last year, but volumes were low and, now that they show signs of revival, the banks are competing once more.

The UK government’s impending sale to retail investors of a big stake in the bank informs the shadow-play guidance on this year’s earnings.

One of the first edicts handed down by Citi’s wealth head is to tell all private bankers to track and record client calls. It has ruffled feathers at the US lender, but if it transforms the unit into the powerhouse CEO Jane Fraser wants it to be, then so be it.

Funded by green bonds, decarbonized assets are driving emissions upwards in other sectors that supply the necessary raw materials and shipment services. A capital markets transition label ought to factor this in.

The hard graft of integrating Credit Suisse still lies ahead, leaving UBS as a concept stock and hopeful investors looking through the efforts of the next three years.

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.

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.

January-February 2024

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

Management changes expand the responsibilities of Marianne Lake and Jennifer Piepszak, lead candidates to one day head JPMorgan, but there is another contender.

January/February 2024

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