Latest articles from Leaders

Objections will ultimately only delay exchange consolidation

June 1, 2011

Protestations concerning nationalism, protectionism and anti-trust legislation could jeopardise plans to merge global stock exchanges, but are unlikely to stop deals in their tracks.

IBC must try harder in its attempts to let banks fail without the fallout

May 4, 2011

The prevention of another financial crisis is dependent on a regulator which plays tough, and the work of the new macro-prudential regulators.

End of the gold standard for US sovereign ratings

May 4, 2011

Ratings agencies would lose their credibility if they did not now cast doubt on the US government’s AAA ratings.

Central banks feel the squeeze

March 23, 2011

Central banks are looking for reasons not to hike interest rates. It is a gamble that may not pay off.

Commerzbank's bold move is a blueprint for other German banks

March 23, 2011

Commerzbank’s bold liability management exercise – the first to address Basel III at both ends of the capital structure – shows that banks need not wait for national and European regulators to finalise minimum capital requirements. It also serves as a possible blueprint for Germany’s other banks to strengthen their capital base.

A step in the right direction

February 23, 2011

The relative resiliance of Africa's financial markets to social and political unrest in the north, and to the default of Côte d'Ivoire on last year's global bond, suggest that the continent's markets have taken one more step towards greater sophistication. Investors are increasingly differentiating one from another.

Exchange mergers could damage competition

February 23, 2011

M&A activity throughout the world's exchanges may improve performance, but it could also make them less competitive.

European bank capital moves east

February 15, 2011

Much has been written about the shift in the balance of global financial muscle away from the ailing eurozone and US toward the likes of China and Brazil. But even within the EU itself, the same trends are discernible.

Bonus Cocos will not make a market

February 8, 2011

Contingent capital, of one form or another, continues to be a hot topic in European financial markets.

Bonus moves curb traders' risk appetite and impact hedging

January 28, 2011

As the bankers' bonus season arrives and the world's media ogle the figures, something seems to have gone missing in the debate. One of the recommendations urged by regulators on both sides of the Atlantic, backed up with the threat of further intervention if ignored, was to change the way in which bonuses are paid, rather than the size of them.

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