The vulnerability of time-critical trading operations has been highlighted by recent infrastructure failures in the London and Tokyo stock exchanges. Michelle Price examines how key players are battling to ensure their business runs smoothly in unusual circumstances.

Banks are discovering that there will be a regulatory price to pay for the support of governments and central banks – and it could be a costly one. Karina Robinson investigates.

The EU needs to step up co-operation on financial supervision? That is what is required to prevent crises and maintain the soundness of financial institutions and markets, says Tommaso Padoa-Schioppa.

A regulatory backlash is almost certain to follow the current trail of bail-outs and mortgage guarantees. Banks must ensure they have a say in any reform process or face the burden of further legislation.

US acceptance of International Financial Reporting Standards is a breakthrough, but UK bankers foresee a discrepancy between rules-based and principles-based systems, writes Michael Imeson.

Malta is throwing itself fully into the eurozone, which it joined in January, with plans to issue a Eurobond. Nick Kochan reports on how EU membership and the single currency have shaped the economy.

The T-Charter, a code of best practice for transition managers, was unveiled at the end of 2007, but even before the ink was dry it appeared that it did not go far enough. Frances Maguire looks into whether the industry is better or worse off.

Specialist advice in operational risk management is readily available but practical, constructive tools and techniques for the day-to-day management of risks are less developed. Frances Maguire reports on the move to benchmark best practices in operational risk.

Banks must resist calls for quick change to tackle the subprime crisis. But they must also not retreat into their shells. Concerted action and a willingness to continue to take risks is the way forward, says John Varley.

Bankers fear that the US’s proposed regulation to prohibit banks from handling transactions related to illegal internet gambling would damage the payments system, writes Michael Imeson.