The landscape for custodians and sub-custodians is about to alter dramatically, thanks in no small part to the Alternative Investment Fund Managers Directive, which will make global custodians liable for the actions of their sub-custodians, leading to uncertainty over risk pricing and the future role of sub-custodians.
The landscape for custodians and sub-custodians is about to alter dramatically, thanks in no small part to the Alternative Investment Fund Managers Directive, which will make global custodians liable for the actions of their sub-custodians, leading to uncertainty over risk pricing and the future role of sub-custodians.
Hong Kong is the world’s offshore centre for the renminbi, and now other international centres are joining the Chinese currency’s path to internationalisation. But as additional pools of liquidity are being created, will the new centres dilute the existing offshore liquidity and create separate puddles rather than one large pool?
The battle to persuade customers to ditch their traditional wallets in favour of a digitised version on their mobile phone has stepped up a notch in the past few months, with big technology and internet companies threatening the territory of the more familiar payment brands. Jane Cooper looks at who is making the early running in this war of the wallets.
Devastating floods and political instability saw Thailand's economy grind to a halt in late 2011. However, the country's banks have emerged relatively unscathed, and with its economy now growing at a good pace, the country is looking forward to experiencing good times similar to those that its south-east Asian neighbours have enjoyed.
Cash management and transaction banking in general are feeling the squeeze – required to work harder due to increasing pressure from both a tough economic climate and a range of new regulations. Deutsche Bank’s global head of trust and securities services and cash management for financial institutions, Satvinder Singh, explores the impact of the current economic and regulatory factors on areas of transaction banking.
Technology is vital to success in cash management and across transaction banking. Deutsche Bank Global Transaction Banking’s global head of product management Rhomaios Ram; global head of cash product management and Europe, Middle East and Africa regional head of product management Christian Westerhaus; and head of client access David Watson discuss the challenges and opportunities presented by the rise of technology and the importance of striking the optimal balance between product usability and functionality.
As the Chinese authorities lift restrictions and open up the renminbi market stage by stage, the significance of what is unfolding has not gone unrecognised in Europe, and, according to a recent survey by The Banker, it is not only those already doing business with the country that are interested in the renminbi's development. As London takes steps to establish itself as an offshore renminbi financial centre, many are anxious to take advantage of the opportunities soon to be available.
Visa and MasterCard have evolved in recent years both inside and out, developing from bank-owned associations into public companies. Now they are facing external pressures of alternative payment schemes and a payments world that is rapidly moving beyond cards.