United Kingdom (UK)
Carney: shortfall in reserves likely for independent Scotland
Division of UK reserves on GDP basis will leave Scots with 10% buffer – less than half of what is generally considered sufficient ‘to ensure credit flows freely and effectively', says BoE governor
Scottish independence not a threat to OTC contracts
Scottish government unlikely to force contract changes if 'Yes' campaign wins
US overtakes Taiwan as offshore RMB clearing centre
The value of RMB payments between the US and China jump 229% in the year to April 2014
UK and Singapore set up RMB private sector working group
Offshore RMB development to be hot-housed by UK and Singapore forum
EM sell-off will have lasting implications for currencies, says Natixis
Careful analysis of current accounts and export prices indicates Germany and Italy could benefit from the recent depreciation of emerging market currencies, but the US and the UK stand to lose out. By Patrick Artus
UK FSA issues £250,000 in fines for reporting failures
Regulator clamps down on reporting failures. Fines are the first under new FSA penalties policy.
Currency cliff-hedging
Imran Ahmad, emerging markets FX strategist at Royal Bank of Scotland in London, suggests a hedge against slowing US growth next year in the absence of a quick resolution to the US economy's fiscal issues.
FSA: facing up to cross-jurisdiction conflicts
David Lawton, head of market infrastructure and policy at the UK’s Financial Services Authority, talks to Michael Watt
FX Invest: US dollar's time as world's reserve currency draws to a close
With the European sovereign debt crisis grabbing headlines, markets might be forgiven for overlooking the nearing end of a second round of quantitative easing in the US. Debate over its success raises deeper questions about the role of the US dollar as…
Barclays’ Diamond argues case for universal banking
Barclays' chief executive Bob Diamond adamant bank’s model funds cheaper lending and is less risky
Subterranean euro-sick blues
The sovereign debt crisis is not going away, and will drive much of the action in the first quarter at least, writes Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York
Citi appoints bank sales chief
Citi has restructured its FX sales desk with the promotion of Bapi Maitra to global head of bank sales in New York.
Critics hit back at cross-border bank levy
Critics are hitting back at plans to introduce a bank levy on UK dealers, highlighting the challenges of implementing the cross-border charge.
RBS bounces back with hire of new options head
LONDON - Richard Fawcett has joined Royal Bank of Scotland as global head of foreign exchange options in London.
Emerging markets will fight the flow of capital
Bhanu Baweja, emerging markets strategist at UBS in London, looks at which emerging markets are heading towards capital controls
OECD warns on global slowdown
G-7 growth set to slow to 1.5% in the second half of the year; chief economist advocates more QE if slowdown does become entrenched
BMo shakes up London FX
LONDON - Bank of Montreal Capital Markets (BMo) has reorganised its FX business, seeing the return of Lorne Gavsie, managing director in FX, to Toronto from London.
Non-banks lead 20% rise in FX turnover
BASEL - The global financial crisis has led to a slowdown in the growth of the foreign exchange markets, with most activity shifting to the investor community from the trade-based flow.
Lloyds TSB hires Yates
Lloyds TSB Corporate has hired Sara Yates as sector economist in London, the bank said today (August 25).
UK FSA revisits trading regulation in comprehensive review
Financial Services Authority identifies valuation, capital framework coherence and risk management as key problem areas; issues 15 recommendations to revitalise standards
Emeap: Cross-border collateral may alleviate dollar funding strains
Executives’ Meeting of East Asia-Pacific Central Banks says crisis revealed shortcomings in regional money markets; swaps deals, cross-border collateral could alleviate some problems
The challenge of re-setting precedents
As if there weren’t enough inconsistencies between regulators, the Bank for International Settlements' head of monetary and economic policy, Stephen Cecchetti, has said corporates should not be exempt from clearing over-the-counter derivatives through…
CLS sets new record for daily settlement volumes
NEW YORK - CLS settled a record 1,758,902 sides today (June 1) surpassing the previous record of 1,758,902 sides set on February 16.
The UK election: Lessons from the past
Pete Luxton, economic adviser at Informa Global Markets in London, looks at past UK elections in an effort to predict the upcoming May 6 election's impact on the sterling