The latest BIS Quarterly Review notes that investor confidence in the global financial markets was further undermined in the second and third quarters of 2002 by a series of ‘disconcerting events’. The Bank for International Settlements highlights financial restatement in late June by WorldCom as the most significant of these events as fear of more widespread corporate problems precipitated a slump in equity markets in both the United States and Europe. According to the report, banks in Europe and finance companies in the United States not only lost market value but also saw the spreads on their senior debt widen sharply. ‘Even swap spreads began to reflect the concern of market participants over the counterparty risk of dealing with large money centre banks. These developments threatened to constrain financial intermediation, possibly adding to the difficulties of non-financial firms in raising money’ the bank added.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more