Financial Services
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Brexit: financial services braces for life without equivalence
By Hugo Bromley
August 13, 2020, Practice Insight from IFLR
UK firms should prepare themselves for significant Brexit-related disruption ahead – and no equivalence – according to financial services sources …
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Libor: tough legacy fix takes energy out of transition
By Thomas Helm
August 13, 2020, Practice Insight from IFLR
While the UK taskforce’s proposal to create a synthetic Libor could solve certain tough legacy issues, it has also taken …
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ECB liquidity floods euro money market and distorts indicators
By Saikat Chatterjee and Abhinav Ramnarayan
August 12, 2020, Reuters
A key euro zone interbank money-market rate is trading below the European Central Bank’s own official rate for the first …
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Internal stress tests of EU banks not up to scratch – ECB
By Louie Woodall
August 11, 2020, Risk
Banks’ homespun stress tests are not tough enough to suitably prepare them for real-world crises, the European Central Bank says. They also lack …
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Banks braced as pandemic poses biggest test since financial crisis
By Stephen Morris, Owen Walker, and Laura Noonan
August 10, 2020, Financial Times
During the depths of the coronavirus crisis in Europe in late March, Sergio Ermotti remembers sitting in …
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How the government’s new real-time payments system could transform commerce
By Rey Mashayekhi
August 9, 2020, Fortune
On Thursday, the Federal Reserve unveiled new details about FedNow Service—a new real-time payments platform that would enable financial institutions in the U.S. …
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Hong Kong regulators see limited sanctions impact as banks weigh action
By Alun John and Scott Murdoch
August 8, 2020, Reuters
Hong Kong financial regulators sought to calm market fears on Saturday as global financial firms in Hong Kong weighed cutting …
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COVID bank loan demand should ease in coming months, says Bank of England
By Huw Jones
August 7, 2020, Reuters
Demand in Britain for corporate credit to survive the COVID-19 pandemic should ease when government-backed loan schemes start winding down later this year, …
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Pandemic seals dominance of UK’s biggest banks
By Nicholas Megaw
August 9, 2020, Financial Times
The first Metro Bank branch opened 10 years ago with the aim of making UK banking more like the US. A decade …
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Trading VAR leapt higher across EU banks in Q2
By Abdool Fawzee Bhollah and Louie Woodall
August 7, 2020, Risk
Top European banks’ trading loss estimates surged over the three months to end-June. Of the seven systemic eurozone lenders …
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