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.
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The Chinese government and the People’s Bank of China are yet to disclose the formal details concerning China’s International Payment Platform, but there is little doubt that the new system will fundamentally change the renminbi clearing market as well as the future of offshore renminbi hubs.
Low volatility in the foreign exchange market shows few signs of abating. That is good news for companies trading across borders, but a headache for banks and investors seeking to profit from currency movements.
Jane Cooper, The Banker’s technology and transaction banking editor, talks to Helen Mason, head of bank partnerships, and Nick Blake, head of sales, at RBS’s global transaction services division, and asks them what they are expecting from their first visit to Sibos as part of the new RBS team.
Matt Tuck, head of international corporate banking at Barclays, talks about how the bank is trying to strike a balance between adhering to know-your-customer and anti-money-laundering regulations, while also providing a good customer experience.
Until now, banks have managed their payment and settlement obligations based upon end-of-day forecasts, but from January 2015 the Basel Committee on Banking Supervision wants to see banks monitoring their balances intraday. Frances Faulds reports on how the industry is adapting to this fundamental change to reduce operational risk.
With heavy state involvement and the occasional scandal, China’s trade finance sector may not be perfect. But significant change is under way as government policies facilitate growth and diversification in the country’s industry and financial sector.
From financially motivated cyber crime to politically influenced cyber warfare, the virtual threats to financial institutions are multiplying. Companies must respond by arming themselves against such attacks or else they risk losing their footing on the new digital battleground.
Global Risk Regulator
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