S&P seems to have some issues with its headline-writing process… — Bloomberg
Eurozone debt web: Who owes what to whom? Interesting visualisation from BBC — BBC
China Construction Bank, “following their customers”, looks to establish a presence in Brazil by acquiring a local bank — FT
The Digest is a daily(-ish) overview of interesting stories in financial services technology and management.
The Chinese central bank plans to coax underground lending into the public realm, presumably to regulate it better… — Reuters
How not to make friends at the European Commission: S&P accidentally downgraded French credit rating on Thursday. — Reuters
UK retail banking upstart Metro Bank sees a slow start, casting doubts on the viability of other upstarts. I wonder how Banksimple will fare in the US with its more innovative business model. — FT
After MF Global’s very short stint as primary dealer, the Fed is considering tougher admission criteria. — FT
Normally banks diversify into financial advice, but in Belgium a financial adviser goes the other way, buying a retail bank. — De Tijd
Looking for opportunities: with most IPO’s cancelled and revenues drying up, investment banks turn to block trades to make up for the fall. — Reuters
In Wenzhou, buy a flat, get a BMW. According to the developer “it doesn’t mean sales are bad, just that we’re trying to attract customers.” Glad that’s clear. — FT
Exchange consolidation, Japan Ed.: Tokyo Stock Exchange (largest in cash equities) is considering a bid for the Osaka Stock Exchange (largest in derivatives). The value of the combined entity value would rival that of the London Stock Exchange. — Bloomberg
Profit up across the board, RoE over 20%, Brazil’s banks are in rude health, although non-performing loans are also on the rise. — FT
The Digest is a daily(-ish) overview of interesting stories in financial services technology and management.
Adventures in CDS investing: after the Dexia split, what entity will end up being the contracts’ reference? — IFR
Are the side-effects of the Goldman Sachs halo a root cause of MF Global’s demise? — NYT Dealbook
HSBC CEO tentatively moves toward agreeing with regulator on restraining bankers’ pay, which seems sensible in the current climate. — FT
MF Global’s collapse forced the Australian regulator to close commodities markets for a day, since the broker represented 80% of the volume on the exchange. — FT
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
Credit Suisse cuts 1,500 more jobs, and intends to scale back its fixed income business. — Reuters
Sadly, MF Global bankers who lost their job yesterday may have trouble finding a new one in the current market — Bloomberg
Rabobank issues a Basel-III compliant “hybrid Tier 1 capital” bond, that “bails in” holders when certain capital ratio thresholds are breached — FT
CME Group’s “Stories of financial ingenuity and innovation” give a nice overview of the genesis of modern derivatives exchanges — CME
CNBC has an overview of the seven major players in high-frequency trading. These companies represent huge volume on the worlds’ exchanges — CNBC
A bit old, but this overview of the changes in the market infrastructure landscape from the WSJ is excellent — WSJ
Reuters has a profile of the LME’s CEO, touching upon difficulties in warehousing and building its own clearing house — Reuters
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
In an attempt to get them to square the circle, the EBA tells banks to increase capital ratios but not deleverage excessively — Reuters
The Dutch government has proposed legislation blocking bonus pay-outs at banks that have been bailed out — Reuters
Question of the day: would the latest Greek debt restructuring plan constitute an event of default or not? — IFR
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
BoE official wants a resolution regime for CCP’s, to guard against taxpayer bailouts — FT
Dexia Bank Belgium is looking for a new name, the current one triggers too many negative connotations — De Standaard
EU’s naked CDS ban: “if you can show correlation greater than zero then you can buy sovereign CDS” — IFR
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
Banks’ appetite to reduce capital requirements by buying credit protection from “regulatory capital relief” funds is soaring — FT
ABN AMRO has ambitions to become a global bank again, building on its strong performance in the home market — FT
KPMG’s new CEO is based in Asia and sees the future growth of the company there — FT
EU leaders tell banks to find €108bn in new capital, following EBA’s estimate of the shortfall — FT
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
IBM buys provider of high-speed and big data solutions to banks Platform — GigaOm
Africa is the new frontier for financial services — FT
EBA wants 9% capital ratio for EU banks, but banks may opt to shrink assets rather than raise capital to meet target — FT
Code and algorithms, rather than people, are becoming financial firms’ most valuable assets and they can be stolen — FT
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
The new head of the BIS promises tough scrutiny of Basel 3 implementations and repeats he will enforce leverage and liquidity ratios — FT
The timing of the above intervention was fortunate, since the FSB and BCBS released their study on the GDP impact of the Basel III capital requirements and conclude it is limited — BIS
The Chinese SWF that already owns stakes in the biggest Chinese banks is buying more shares to prop up confidence in them — Reuters
Unicredit’s Chief Economist makes the case that Italy is a safer credit and better investment than the UK… — FT
“They are selling what they can sell, and keeping what they cannot.” The new shape of Dexia — FT
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
The US Fed adds two additional primary dealers to its line-up — Reuters
The FT sketches what is at stake with the European Market Infrastructure Regulation and the political wrangling around it — FT
The EU issues a ‘statement of objections’ to the Deutsche Börse/NYSE Euronext merger, but the merger itself shouldn’t be threatened — Reuters
After the second Dexia rescue, Belgian economist Ivan Van de Cloot calls for a wide international adoption of the UK’s ICB proposals and the ‘Swiss finish’ — Tijd (in Dutch)
Seven financial trade groups, including the AFME, press the EU to enact legislation enabling free choice of CCP for market participants — Bloomberg BusinessWeek
Asset Manager BlueBay sets up new funds specifically to lend to European SME’s, joining others in filling a void left by banks — FT
The Digest is a (near-)daily overview of interesting stories in financial services technology and management.
Scheldt Capital is not a company, it's a concept. It's also a place where I write about finance, economics and banking. All views expressed here are entirely my own and most likely do not represent those of my employer, past, present and future.
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