The financial sector may be moving down the list of global risks, but this does not come as much of a relief to the banks themselves, writes Philip Alexander from the IMF and World Bank annual meetings in Washington DC.
With the larger foreign exchange prime brokerage houses restructuring and new entrants offering new types of services, Frances Faulds asks whether regulatory changes have contributed to the demise of the industry or simply to its reinvention.
While much of Europe has struggled over the past few years, the Polish economy has remained resilient, maintaining a sound banking system and hitting its inflation targets. This is why the president of the National Bank of Poland, Marek Belka, is remaining cautious on the topic of eurozone membership, and has no intention of opting into the European banking union.
For new regulation to be effective, it must be adaptable to new innovations, strike the balance between simplicity and complexity, and be coherent across sectors and regions, according to Andreas Dombret of the Deutsche Bundesbank.
With a number of eye-watering fines emanating from the US in recent years, The Banker profiles the numerous regulators that are dishing out these punishments, and looks at how they police the world's largest financial market.
The European – and indeed global – economy is facing a crucial six months. Central to this is the European Central Bank's Comprehensive Assessment, which will go a long way to boosting confidence within the EU.
Despite the plunge in the value of the renminbi earlier this year and growing concerns over China's long-term growth, the offshore renminbi bond market shows no signs of slowing down. Issuance volumes continue increasing annually, but most importantly the market is becoming more sophisticated.
South Africa’s growth has been sluggish of late but the country’s financial sector remains one of the world’s most sophisticated, while the government’s reforms are allowing businesses to tap into fast-growing markets in the rest of sub-Saharan Africa more easily.
With competition for offshore renminbi business heating up, London and Singapore are both establishing themselves as strong competitors to Hong Kong’s lead, as is the US, which has huge potential for development.
Global Risk Regulator
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