The chief executive of RBS has been hounded into giving up a bonus that he had been awarded. No one — least of all the UK government — should be proud. read more »
Moody's reckons the ECB's long term refinancing operation is credit negative for Europe's banks. It's hard to square this with the relief it is providing the sector, but the agency is right to warn of the dangers of relying on central bank funding. read more »
US regulators rightly acted to boost money market funds’ resilience to shocks after the Reserve Primary Fund “broke the buck” in 2008. But given the funds’ performance during the crises of 2011, further risk reduction proposals are unnecessary and could be detrimental to regulators’ intentions. read more »
The shine appears to have come off the offshore renminbi market. Funding costs are rising, bond investors are posturing and some analysts now think that renminbi deposits in Hong Kong will actually fall this year, after an almost unbroken growth streak for the last two years. That is bad news for loans bankers. read more »
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Review of the Year 2011 and Outlook 2012
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