Investment banks have experienced huge changes since the global financial crisis and are still struggling to adapt their business models. But while the industry might have to make do with much lower returns in future, it is far from being on its knees.
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The interest rate needed for low inflation and full employment is different from the interest rate needed for financial stability. How did this happen and what can be done about it?
Both the EU and New York are looking to bring digital currencies under a full regulatory regime, but their approaches are rather different.
New York leads the world’s international finance centres for inbound and outbound foreign direct investment into the financial services sector, but other US financial centres are also proving attractive destinations.
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New regulatory pressures and slow economic growth have been taking their toll on the US's small regional lenders, leading to worries that many of them will be squeezed out of the market. But results from the first quarter of 2014 show that these smaller players are actually performing better than the country's larger lenders.
Since their federal takeover in 2008, the fate of US mortgage underwriters Fannie Mae and Freddie Mac has hung in the balance. Politicians have jostled back and forth on the issue of winding them down, but without any workable and politically agreeable way to fill the void they would leave in the US housing market, it seems that the two institutions may be here to stay.
John Moore, the head of Morgan Stanley’s Americas equity capital markets business, explains why identifying innovators is a key part of the job
For years the conventional thinking was that economies where banking assets fell below the level of GDP were emerging whereas economies with banking assets two or three times the size of GDP were acknowledged as advanced. That was before the crisis.
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