As regulators seek to push more business onto exchanges and into central clearing, and to make derivatives and other markets more transparent and more resilient, the reform of the securities industry is well under way. What will regulations mean for businesses in practice?
Latest articles from Banking strategies
Banks face big adjustments on capital and liquidity
January 3, 2012The combined and cumulative effects of new regulations and a hostile market environment means banks are fighting to build both capital and liquidity. Many questions remain about banks' ability to do both, and the effects of doing either on economic growth.
Creating a new risk culture
January 3, 2012Few will deny that bank boards were as culpable as their senior management in failing to spot the dangerous levels of risk building within the banks in the lead-up to the financial crisis. There is clear recognition that things need to change. But changing risk structures, and more importantly, risk cultures, is easier said than done.
Will national regimes derail global recovery and resolution?
January 3, 2012Recent events show that the desire to put in place a global recovery and resolution regime to prevent the kind of government intervention that was required during the financial crisis is very much a work in progress. For banks it requires a tremendous amount of work and unprecedented transparency about their operations. For national regulators, it means forging agreements that bring together disparate insolvency regimes.
Banks nervously await outlook of new financial landscape
January 3, 2012The convergence of regulatory, government and economic forces on the financial sector is unprecedented. If much of the detail has yet to be determined and substantive differences between national authorities still exist, one thing that is certain is that the financial services industry will look very different in a few years' time.
Maturity brings diversification to the renminbi bond market
January 3, 2012The offshore renminbi bond market has seen a surge of issuance in the past year, with bankers predicting that 2012 will be even busier. This does not mean an easy ride for borrowers, however, with investors expecting higher yields as they no longer buy into the market solely on the basis of the strengthening currency.
Working out a competitive edge in the Chinese onshore bond market
January 3, 2012China's onshore market has grown apace in recent years, driven by significant growth in its economy. Its increased size did not automatically lead to increased diversification, however, as the market remains dominated by government issues. Will new access rules and promising yields from corporate bonds lead to a more open market?
Remaking the eurozone
January 3, 2012Keeping Greece in and allowing massive European Central Bank intervention are the best ingredients for saving the eurozone. But the case for common eurozone bonds is less clear.
Renminbi's global status: a case of when, not if?
January 3, 2012There seems to be something of an inevitability about the renminbi's rise to reserve currency and global dominance. However, there are mutterings that this ascents will be curtailed by China's development model, corporate governance and financial system.
The extending reach of the renminbi
December 16, 2011Despite the volatility in the global economy, the international value of the renminbi is increasing. But with China's slowing economy and the uncertainty surrounding how much further the country will go in liberalising its currency, how straightforward is the road ahead?