Our biggest stories of the past week are ...
SWIFT, Visa, Mastercard and T2S?
The Financial Services Club is repeating the survey started in 2011 reviewing the changing face of payments infrastructures. We would be delighted if you would join this year’s survey: click here to take part.
UK House of Lords to investigate reform of the EU banking sector
A new inquiry into reform of the EU banking sector has been announced today by the House of Lords EU Sub Committee responsible for looking into economic and financial affairs. The Committee will look at the sector in the context of the fast moving agenda of reforms at an EU level. This will include …
So it’s getting towards the stage where London winds down or up for the Olympics, dependent upon your point of view. London is certainly getting more and more confused about the Olympics, with signs all over the underground and on...
It’s Friday, it’s summertime and it’s the day the London 2012 Olympics begin. Fantastic. Tonight’s opening ceremony should be amazing and so, rather than talking about banking today, I thought I would talk about banking Olympians. Lloyds Bank were one...
Transparency is like forcing everyone to fly naked
We had a great meeting at the Financial Services Club Clearing & Settlement Working Group (CAS-WG) plenary this month. The CAS-WG is rocking and rolling forward, with four subject groups meeting regularly between the plenary meetings. The four subject groups...
It used to be that the leaders of our country, media, police, priests and bankers were the most trusted of all. We would follow these influencers like sheep. They would shape our thinking and actions, and control our thoughts and...
Forget about rebuilding trust ... it won't wash
Rebuilding trust. A phrase that is used regularly throughout the banking industry since the crisis began. I particularly remember it being used as a theme at SIBOS two years ago; it was a theme that ran through Bob Diamond’s Today...
The major general news stories of the past week include ...
Disgraced Barclays chief banks £9m payoff - The Independent
Barclays was engulfed in scandal again last night after reports emerged of an £8.75m payoff to the most senior executive to authorise the false submission of Libor interest rates. Jerry del Missier resigned last month but is said to have arranged the payoff in the days before his departure. The
Bank of America Begins Rollout of Chip Credit Cards to Consumers - Payments News
Bank of America announced that it is rolling out chip technology (EMV) on many of its consumer credit cards. The bank will include the chip technology in all newly issued Merrill Lynch credit cards, U.S. Trust Accolades, BankAmericard Travel Rewards, BankAmericard Privileges, and Virgin Atlantic travel credit cards. The bank
Insider-dealing ring at UBS and JP Morgan facing jail - The Independent
Six men were facing jail terms yesterday after being found guilty by a jury of insider dealing in a ring where employees in the print rooms at UBS and JP Morgan passed on secret takeover deal documents to their trader friends.
HSBC emails add to pressure on minister - The Independent
Pressure on Lord Green, the trade and investment minister, to explain his role in the HSBC money-laundering scandal escalated last night, after documents showed he attended a meeting with senior bank staff at which "Iranian payments" were discussed.
Lloyds vows to speed up ring-fencing - The Telegraph
Lloyds Banking Group is set to signal that it will bring forward the "ring-fence" separation of retail and investment banking ahead of the 2019 deadline.
Sandy Weill: the architect of megabanks says America should break them up - The Telegraph
Sandy Weill engineered deal that made Citigroup world's largest bank.
Free banking should end, says FSA head Lord Turner - The Telegraph
Britain's tradition of free bank accounts for millions of customers looks under threat as Lord Turner, the head of the Financial Services Authority, says the system must change.
How Spain's regions got into trouble - BBC
How Spain's regions got into trouble
Damning verdict on City: 'No longer fit for purpose' - The Independent
A high-level government review into the City of London has concluded that it is riven by short-termism and staffed by too many people earning too much money.
What's gone wrong with the banks? - BBC
How London's financial centre was toppled
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
