The Banker Shorts April 21

Your quick guide to the week ending April 21, 2023, on thebanker.com.

Last week the EBRD head took stock of global shocks to the banking industry, open banking was welcomed at HSBC, UK financial services welcomed digital assets to the regulatory regime, shadow banking maintained its invisible hand, while payments remained the driving force for African innovation. 

Our shared opinions continued to look at global banking shocks, better understanding of risk, digital transformation, and crypto assets and the importance of collaboration in fintech. 

Our global coverage examined Indonesia and Latin America.

Trending topics

  • EBRD on Ukraine, renewables investment and SVB fallout – Anita Hawser | Click here to read

While some investor appetite has returned in 2023, the EBRD is now closely monitoring the tension in the banking sector caused by the collapse of Silicon Valley Bank and the wiping out of $17bn of Credit Suisse’s additional Tier 1 (AT1) bonds following its flash sale to UBS. “It’s clear that some categories of debt for the banks, like AT1, will be very difficult to issue,” says EBRD president Odile Renaud-Basso

“I’m a big fan of open banking; I know that’s not the thing to say in a big bank, but actually, I really am because it’s pushed us in ways that made us uncomfortable, but in good ways,” says Nadya Hijazi, HSBC’s global head of wholesale digital channels. “It’s like any growth: when you’re uncomfortable, you’re growing.”  

  • UK regulators shake up financial services with new bill – Bill Lumley | Click here to read

The UK banking sector is expressing cautious optimism about the latest UK Financial Services and Markets Bill, which is the first major shake-up of UK financial services law since the last such act was passed more than 20 years ago. 

  • Payments innovation the key to financial inclusion in Africa – Rekha Menon | Click here to read
  • Behind the banking crisis: the invisible hand of shadow banking – John Zhang | Click here to read

Opinion sharers 

  • A time for reflection after banking sector strife – Joy Macknight | Click here to read

A recent report by S&P Global Ratings calls attention to the vulnerabilities in emerging market banking systems from tighter international financing conditions ushered in by higher-for-longer rates. The financing conditions are becoming increasingly restrictive, with rising costs and weaker liquidity especially affecting emerging markets.

It is easy for senior executives at banks and other financial services providers to spend significant time, effort and attention on managing existing risks, such that they forget the business itself and the potential impact of systemic risks on the horizon. Banks need to deliver value for clients, shareholders, and community stakeholders. 

  • Understanding digital transformation – Lenildo Morais | Click here to read
  • Prudential crypto asset regulations must ensure a level playing field – Giovanni Sabatini | Click here to read
  • The future of fintech is international – Shayan Hazir | Click here to read
  • Can banks meet the needs of government and the people? – Chris Skinner | Click here to read

Globe at a glance

Indonesia’s central bank, Bank Indonesia (BI), has announced plans to develop a domestic credit card system. The move comes as south-east Asia’s biggest economy seeks more autonomy over its payment infrastructure by minimising the role of foreign payment providers.

  • Latam central bank governors on the recent banking crisis – Barbara Pianese | Click here to read

Bits of NIBs

This fortnight, celebrities invade fintech, events in the metaverse continue, UK open banking moves to the next phase, while HSBC finds room at the inn for out-of-work Silicon Valley Bank staff. And not one, not two, but THREE bank/fintech partnerships! 

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