Standard & Poor’s has released a report on the European asset-backed commercial paper (ABCP) market, forecasting a challenging period of adaptation to regulatory changes and increasing competition. ‘Several new conduits have already been established in 2004, for example, Ormond Quay Funding and Curzon Funding, which are arbitrage conduits,’ said Andrea Quirke, at the ratings agency. She continued: ‘Over the next 12 months, the use of ABCP as a financing tool will not diminish, although the composition of ABCP programmes may change to meet new challenges.’ Three main challenges have been identified for the year ahead. First, in 2005, the German landesbanks will lose the benefit of two support mechanisms offered by the German state. Second, new regulations are triggering a search for alternative liquidity in existing and new conduits. Third, the Basel II Accord made recommendations for the use of liquidity. It means that liquidity facilities will be restricted, and any facilities must be the last option for credit enhancement, and not subordinated in the priority of payments.
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