The Banker back issues from September 2008:
This Month (September 2008): Editor's Letter - A Fresh Look For A Trusted Formula.(Editorial)
Sep 01, 2008; ... Byline: BRIAN CAPLEN - EDITOR Welcome to the new look Banker, but have no fear that any of your favourite columns or features have been jettisoned. Journalists and editors spend a lot of time debating the artistic merits of magazine design but in the end, the reader wants ...
Comment: The Banker Opinion - The World Can Learn From EU's Regulatory Shake- up Mistakes.(Column)
Sep 01, 2008 ... The European Union is in the midst of a massive regulatory upheaval in an attempt to realise its goal of a single market in financial services. As with all regulatory initiatives, not all the outcomes are exactly what the policymakers intended and The Banker has reported faithfully on a ...
Comment: The Banker Opinion - Diversify And Survive.(Industry overview)(Column)
Sep 01, 2008 ... Understanding UK bank strategies can be difficult. The past year has seen not only Royal Bank of Scotland's joint acquisition of the Netherlands' giant ABN AMRO but also the disastrous run on Northern Rock, record 2007 profits at HSBC Holdings and, last month, RBS's first half-year loss in ...
Comment: Bracken - Mind The Governance Gap To Reduce Risk - Brendan BrackeThe Bracken Column Is Named After n, The And ChaiFounding Editor Of The Banker In 1926 rman Of The Modern-day Financial Times From 1945 To 1958. This Column Reflects His Enormous Co.(Industry overview)(Column)
Sep 01, 2008; ... Byline: CHRIS GENTLE Financial markets are experiencing almost unparallelled turbulence. Write- offs continue to mount - estimates now top $1000bn; job cuts are becoming more commonplace; and many senior executives have been axed. A few household names have even disappeared for ...
Comment: Bracken - Mind The Governance Gap To Reduce Risk - The Bracken Column Is Named After Brendan Bracken, The Founding Editor Of The Banker In 1926 And Chairman Of The Modern-day Financial Times From 1945 To 1958. This Column Reflects His Enormous Co.(Column)
Sep 01, 2008 ... Byline: CHRIS GENTLE Financial markets are experiencing almost unparallelled turbulence. Write- offs continue to mount - estimates now top $1000bn; job cuts are becoming more commonplace; and many senior executives have been axed. A few household names have even disappeared for ...
Comment: Viewpoint - Improving Risk Management In Islamic Finance - Better Disclosure, Improved Corporate Governance And Further Progress In Devising Sharia-compliant Derivatives Are Among The Crucial Requirements.
Sep 01, 2008 ... Byline: SHAMSHAD AKHTAR - GOVERNOR, STATE BANK OF PAKISTAN Islamic finance has grown substantively in the past few years and with it there has been a growing interest and debate on the appreciation of its risk architecture and profile. It is now well recognised that, by and ...
This Month: Lead News - Lehman Brothers 'fails To Agree' On 50% Sale Of Bank.
Sep 01, 2008 ... Lehman Brothers has held secret talks to sell up to 50% of the bank to South Korean and Chinese parties but failed to reach an agreement with either, according to the Financial Times. The potential buyers found the price asked by Lehman to be too high. State- owned Korea ...
This Month: News - Lone Star To Acquire IKB.
Sep 01, 2008 ... Lone Star, the US private equity group, is to take over German lender IKB, one of the earliest victims of the credit crisis. After months of talks to find a new owner, the board of Germany's state-owned development bank KfW has agreed to sell its stake of almost 91% in IKB. ...
This Month: News In Brief.
Sep 01, 2008 ... Industrial and Commercial Bank of China has announced a 57% net profit, increased in the first half to Rmb64.9bn ($9.5bn), on the back of higher fee income and widening government-set interest rate margins. ICBC is 5% owned by Goldman Sachs. The result is the largest first-half profit of ...
This Month: Movers And Shakers.
Sep 01, 2008 ... David Puth Investment banks' troubled times open up opportunities to other financial services firms. Leading securities service firm State Street is developing its investment activities and has appointed David Puth to the new role of head of investment research, securities ...
This Month: Report - PWC Report.
Sep 01, 2008 ... Accounting for change: Transparency in the midst of turmoil This new report, based on the 2007 annual reports of 22 global banks, provides a targeted review of bank disclosure requirements and proposes best practice recommendations for the three areas most affected by market ...
Cover Story: The Crisis - Litigation - Legal Gold - The US Still Looks Like The Preferred Jurisdiction For Those Claiming Damages Over Subprime-related Losses, But The Growth Of Litigation Funding Could Create New Opportunities In Europe.
Sep 01, 2008 ... Byline: PHILIP ALEXANDER While bankers and investors wonder when the credit squeeze triggered by the US subprime mortgage crisis is going to end, for litigation lawyers the work is only just beginning. Navigant Consulting, a US-based firm specialising in risk mitigation analysis ...
Awards 2008: CSR Awards 2008 - Corporate Social Responsibility.(Company overview)
Sep 01, 2008 ... The Banker has been at the forefront of realising the importance of what is variously called corporate social responsibility; sustainability; and environmental, social and strategic governance, splashing a piece on our cover in April 2002 with the headline: The Importance of Being Good: ...
Capital Markets: Agenda - Jacques D'Estais - The Global Head Of Corporate And Investment Banking At BNP Paribas Says The Bank Is Enduring Challenging Market Conditions With A Risk-aware, Rather Than Risk-averse, Approach To Business.
Sep 01, 2008 ... Byline: GERALDINE LAMBE It seems incongruous that two of the handful of banks to have emerged from the subprime and credit crunch crises relatively unscathed should occupy opposite ends of the spectrum in terms of style. One, Goldman Sachs, is characterised as a ...
Capital Markets: Team Of The Month - Barcap's Zest For Success - Barclays Capital's Rare GBP250m Value In-force Deal For Aegon Scottish Equitable Proved There Is A Growing Appetite For Securitisations Among Insurers.
Sep 01, 2008 ... Byline: EDWARD RUSSELL-WALLING Securitisations aren't exactly all the rage with investors right now, for obvious reasons. But occasionally a rare issue shines a light into surviving pockets of appetite and suggests a way forward for certain issuers. Such was Zest, Aegon Scottish ...
Capital Markets: Issuer Strategy - Credit Suisse - Swiss Prove That Quality Will Out.
Sep 01, 2008 ... If cream eventually rises to the top in the bond markets, then nothing accelerates the process as tellingly as a credit crisis, according to Credit Suisse CFO Renato Fassbind. That's not exactly how he phrases it, but those are his sentiments. The bank has just attested to its ...
SIBOS: Introduction - SIBOS Debates The Big Issues - The Single Euro Payments Area, MiFID, The Target 2 Securities Initiative And The Thomson-Reuters Megamerger Are Among The Hot Topics At This Year's SIBOS.
Sep 01, 2008 ... The annual Sibos meeting attracts finance professionals from across the industry who travel from every part of the globe. This year the organisers expect in excess of 7000 people to turnout in Vienna to network, gossip and talk about the big issues of the day. Since last year's event in ...
SIBOS: Payments - The SEPA Saga - Political Intrigue And A Lack Of Leadership Might Yet Kill The European Commission's Vision Of A Single Euro Payments Area.
Sep 01, 2008 ... Byline: MICHELLE PRICE The overarching goals of the Single Euro Payments Area (Sepa), the European Commission's vision of a single European domain in which all payments are as efficient, timely and inexpensive as a traditional domestic transaction, have never been in doubt. ...
SIBOS: Q&A - Charlie McCreevy - The European Commissioner For The Internal Market Has Been At The Forefront Of The Sepa Initiative Since Taking Up Office In 2004. Here, He Answers The Market's Criticisms Of The Project And Discusses How It Has Been Handle.
Sep 01, 2008 ... Byline: MICHELLE PRICE Q: Is it true that the European Commission (EC) has not provided adequate leadership regarding Sepa? A: This is a slightly surprising question because, although both the EC and the European Central Bank (ECB) strongly support Sepa, it is in ...
Think Tank: Opening Up New Revenue Streams - FX4Cash, The New Cross-currency Payment Solution From Deutsche Bank, Addresses Some Of The Problems Faced By Financial Institutions Making Regular Lower-value Cross-currency Payments For Their Clients. Tim Merr.
Sep 01, 2008 ... Q: What is the thinking behind the new product? Tim Merrell: FX4Cash was designed to address the problems that many institutions face in making lower-value cross-currency payments for their clients. These issues include rate transparency, processing costs, currency reach and ...
SIBOS: Data - Thomson Reuters - The Birth Of A Giant - The World Of Data Distribution Was Transformed In April 2008 When Two Of The Biggest Names In The Industry Agreed To Merge. So What Are The Implications Of The Merger On The Competitive Landscape?
Sep 01, 2008 ... Byline: CHARLIE CORBETT The world of news circulation has come a long way since an ambitious young German reporter used carrier pigeons to bridge the gap in the telegraph line between Berlin and Brussels. That was in 1850 and the journalist's name was Paul Julius Reuter. ...
SIBOS: L zaro Campos - Swift Answer To The Detractors - L zaro Campos, Swift's CEO Of 18 Months, Discusses The Institution's Critics And Competitors, And Why Swift Will Always Upset Someone.
Sep 01, 2008 ... Byline: MICHELLE PRICE Few organisations attract as much criticism as Swift, the bank-owned industry utility-cum-institution of more than 30 years. Slow to act, commercially clumsy, overly complex and costly are familiar criticisms commonly levelled at the organisation and its ...
SIBOS: Custodians - Interview - RBC-Dexia Sees The Silver Lining - While Most Market Participants Are Suffering From The Global Turmoil, RBC-Dexia Investment Services Is Enjoying The Benefits Of A Risk-averse Strategy.
Sep 01, 2008 ... Byline: NICK KOCHAN To say it is business as usual for custodians is putting it a bit strongly. But today's market turmoil affects them much less than it does their hard- pressed clients. These providers of the infrastructure of securities distribution take minimal risks, so ...
Corporate statement: Vocalink - The future of payments - The UK Faster Payments Service heralds a new epoch for payments. Although There Are Obvious Benefits To Individuals In Terms Of Convenience And Certainty Of Payment, The Potential Benefits To Busine.
Sep 01, 2008 ... Faster payments and the need for speed The payments landscape is changing fast. Distance is no longer a meaningful measure of payment efficiency and has ceased to be a source of competitive advantage. Speed has become the major factor that determines commercial success ...
SIBOS: Settlement - Target 2 Securities - Cruising On The Settlement Highway - The EU's Introduction Of T2S Is Designed To Enable Easy Movement Across Jurisdictions And Bring Down Costs.
Sep 01, 2008 ... Byline: SILVIA PAVONI In its move towards the creation of a single market, the European Union has included securities settlement in its legislative efforts. Compared with the US market, costs of settlement transactions in Europe are exorbitant. "The cost of cross-border ...
SIBOS: Roundtable - Transformation Of The Securities Space - European Regulation In The Securities Services Space Is Designed To Foster Competition, Transparency, Harmonisation Of Systems And Reduction Of Costs. But Is It Achieving Those Goals? A Top-leve.
Sep 01, 2008 ... The Key Issue The effects of mifid on the securities market Brian Caplen, The Banker's editor, opened the debate with one of the most discussed issues in the securities space - the achievements and the challenges of the Markets in Financial Instruments Directive ...
Western Europe: Top 300 EU Banks - Rankings - UK Players Maintain Sizeable Advantage - UK Banks May Have Taken Significant Hits On Their Profit And Loss Accounts As A Result Of The Subprime Crisis, But They Have Also Strengthened Their Capital And Balance.
Sep 01, 2008 ... Byline: STEPHEN TIMEWELL Expanding UK banks, following Royal Bank of Scotland's (RBS's) joint acquisition of Dutch giant ABN AMRO in 2007, are taking an increasing slice of the Top 300 European (EU 27) banks market. Based on mostly end-2007 figures, the 25 UK banks in the Top ...
Central & Eastern Europe: Czech Republic - PPF Group - Pressing A Home Territory Advantage - Leading European And US Consumer Finance Players Have Expanded Aggressively In Central And Eastern Europe, But They Face A Strong Local Competitor In The Shape Of.
Sep 01, 2008 ... Byline: PHILIP ALEXANDER Few markets can match central and eastern Europe (CEE) for the speed of growth in consumer finance. The resources boom in Russia helped fuel domestic credit growth of more than 50% in the country in 2007, according to estimates by rating agency Standard ...
Asia: Indonesia - Commodities - Indonesia Mines A Rich Seam - Banks In Indonesia Are Looking To Commodity Plays As Inflation Hinders Growth In The Region.
Sep 01, 2008 ... Byline: SIMON MONTLAKE IN JAKARTA Acombination of rising fuel prices, double-digit inflation and political jockeying ahead of national elections next year is putting lenders on alert in Indonesia, the largest economy in south-east Asia. At the same time, the global rally in ...
Americas: Venezuela - Government-bank Relations - Chavez Takes On Banking Sector - President Hugo Ch vez's Decision To Nationalise Banco De Venezuela Has Come At A Time When Government-bank Relations Are Uneasy Following A Ministry Of Finance Crackdown On.
Sep 01, 2008 ... Byline: JANE MONAHAN There is little that is conventional about banking in president Hugo Ch vez's socialist Venezuela - and still less following the South American leader's decision, on August 1, to prevent the sale to a local bank of a unit of Spain's Grupo Santander - the ...
Middle East: Gulf Co-operation Council - Oil Fuels Ongoing GCC Boom - Healthy Oil Revenues Mean The Gulf Co-operation Council Countries Are Enjoying An Ongoing Boom And Even Concerns Over Inflation Cannot Shake The Optimism Surrounding The Region.
Sep 01, 2008 ... Byline: STEPHEN TIMEWELL The six Gulf Co-operation Council (GCC) countries - Bahrain, Kuwait, Oman, Saudi Arabia, Qatar and the United Arab Emirates - are expected to maintain strong economic growth in the medium term with GCC oil revenues set to exceed $600bn annually in 2008 ...
Middle East: United Arab Emirates - GCC - Tapping Into Fresh Overseas Deposits - The UAE's Banks' Profits Based On Lending Are Huge But With Customer Deposit Levels Lagging And International Borrowing Increasingly Difficult, Many Are Looking Towards Expan.
Sep 01, 2008 ... Byline: MARK FORD The UAE's banks continue to report bumper profits - this time for the second quarter or first half of 2008 - but they appear to be lending much more to customers than they are taking customers' deposits. The country's second- largest bank, National Bank of Abu ...
Middle East: Qatar - GCC - Doha Sets Pace With Standard Reforms - In An Increasingly Competitive Gulf Environment, The Need For Credible But User- friendly Regulation Is Paramount.
Sep 01, 2008 ... Byline: PAUL MELLY Taking a lead that it believes rival Gulf financial centres will eventually have to follow, Qatar has set out plans to create a unified system of financial regulation. New arrangements to be finalised during coming months will see domestic institutions ...
Middle East: Oman - The Sultanate Awakes - Often Overlooked By Investors Attracted To Flashier Plays, Oman Has Excellent Prospects For Those Willing To Make The Effort.
Sep 01, 2008 ... Byline: JON MARKS Oman's steady programme of economic and political reform rarely creates big headlines. Critics say that is because 'reforms' move too slowly; supporters argue that the sultanate's cautious approach has held it in good stead since Sultan Qaboon bin Said ...
Middle East: GCC - Sovereign Wealth Funds - Meeting Demands For SWF Transparency - Encouraged By The IMF, Gulf Investors Are Preparing Guidelines That Should Foster Greater Openness About Their Thinking. But The Culture Of Discretion Remains Strong.
Sep 01, 2008 ... Byline: PAUL MELLY Sovereign wealth funds (SWFs) are to meet in Santiago, Chile, at the start of September to refine the voluntary code of behaviour they plan to present at the forthcoming IMF/World Bank annual meetings. The new code, already dubbed GAPP (generally ...
Africa: Uganda - Big Names Reeled In By Ugandan Rebirth - A Rush Of New Banks, Rapid Branch Expansion By Established Banks And An Emerging Mortgage Battle Are Among Developments That Are Enlivening Uganda's Banking Scene.
Sep 01, 2008 ... Byline: IAN GILL What a difference a decade makes. Back in the late 1990s, Uganda's banking system was in a mess. Bad loans, many to the well-connected, were running at more than 30%. Several local banks collapsed. One international bank, Barclays, closed 25 branches outside ...
Africa: Uganda - Q&A - David Okiopello - Inflation May Be Well Above Target But Uganda's Central Bank Earns High Marks From Bankers For Emphasising Risk Management. The Banker Talks To David Okiopello, Acting Deputy Governor Of the Bank Of Uganda.
Sep 01, 2008 ... Byline: IAN GILL Q: With seven new banks and many established banks expanding, will there be overcrowding in a country with only two million bank accounts? In the late-1990s, we had 21 or 22 banks but some collapsed and we were down to about 15. Now we are back to 22 ....
Retail: Retail Banking - Mobile Banking - Ringing In The Changes - Telecommunications Firms And Banks Are Going Into Partnership To Take A Stake In The Unbanked Markets Of The Developing World, But Encouraging Consumers To Sign Up To Full Services Will Be.
Sep 01, 2008 ... Byline: WENDY ATKINS Mobile phones are something taken for granted in the developed world. In parts of Africa and Asia, however, they are fast becoming the lifeblood of the economy. Not only do they allow people to keep in touch with each other, they can also play ...
Retail: Retail Banking - Mobile Banking - Shaping Tomorrow - Roots Of A Global Currency? - When Barclays Bank Takes Part In A Local Currency Scheme, Others Should Pay Attention.
Sep 01, 2008 ... Byline: CHRIS SKINNER In the 1920s, the hyperinflationary times of the Weimar Republic meant that Germans created alternative economies using local currencies. The reason was that the national currency was effectively worthless, and the economy was out of control. ...
Reg Rage: Bank Charges In Brazil - Brazil's Central Bank Sides With Consumers - Brazil's Banks Are Coming To Terms With New Regulations On The Tariffs They Levy On Consumers.
Sep 01, 2008 ... Byline: MICHAEL IMESON What is it? The Brazilian authorities have placed controls on the service fees that banks charge retail customers. Who dreamed it up? The Central Bank of Brazil and the National Monetary Council. They acted because ...
Financial Intelligence Guide: International Financial Centres - Foreword - Deloitte - Flux And Mutability - Turbulent Times Bring With Them New Opportunities And Heightened Competition. Ultimately, There Will Be Those International Financial Centres That.
Sep 01, 2008 ... Byline: VINCE COLVIN & JOHN CULLIANE In search of a pithy title for an introductory article on international financial centres (IFCs) amid the undeniably challenging environment of 2008, one can do no better than turn to the title of musician David Sylvian's most arresting ...
Financial Intelligence Guide: International Financial Centres - Introduction - Traditional Venues Stay On Top - Established Financial Centres Still Lead Global Rankings But Their Supremacy Is Under Threat From A Growing Number Of Competitors From All Over.
Sep 01, 2008 ... Byline: SILVIA PAVONI - INVESTMENT EDITOR Despite the successes of financial centres emerging around the world, London and New York still retain the top position in the international rankings, as shown by this year's global financial centres index (GFCI) commissioned by the City ...
Financial Intelligence Guide: International Financial Centres - Deloitte - Meeting A Need - An Investigation Into The Regulatory Priorities For International Financial Centres.
Sep 01, 2008 ... Byline: MARK DAVIES & DAVID FIENNES Competing international financial centres (IFCs) may share largely common goals but it is unusual to find two that have an overtly common background. Furthermore, the international financial services marketplace within which IFCs compete is ...
Financial Intelligence Guide: International Financial Centres - Israel - From Vision To Reality - The Prosperous Israeli Economy Is Aiming To Attract Global Investors Through New Regulation And Tax Structures In Order To Become An International Financial.
Sep 01, 2008 ... Byline: YAROM ARIAV During the summer of 2006, Israel was engaged in a six-week war on its northern border. Hundreds of rockets threatened more than one third of the country, and most government resources were directed at the war effort. Amazingly enough, after the ceasefire ...
Financial Intelligence Guide: International Financial Centres - Madrid - The Rise Of Madrid - Madrid Owes It Success To An Efficient Financial Industry And Its Position As The Decision-making Centre Of Spanish Multinationals, Says The General Manager Of T.
Sep 01, 2008 ... Byline: ISABEL MARTIN CASTELLA The economic growth experienced in Spain in recent years has brought the economy a degree of maturity in terms of income and has provided the driving force required by the financial market. The region of Madrid has profited from this ...
Financial Intelligence Guide: International Financial Centres - Seoul - Seoul Carves Niche As World-class Financial Centre - The South Korean And Seoul Metropolitan Governments Are Working Hard To Ensure Seoul's Position As A Global Financial Centre In No.
Sep 01, 2008 ... Byline: PAIK YOONBEOM Over the past 60 years, South Korea has grown into the world's 13th largest economy (with a gross domestic product in 2007 of $969bn) and the 11th largest trading nation ($726bn in 2007). The country has rapidly evolved from an export-driven ...
Financial Intelligence Guide: International Financial Centres - Chile - Latin America's Leader - The Government's Commitment To Reform Chile And Improve Its Economic And Physical Infrastructure Has Paid Off By Putting The Country On A Par With The World's.
Sep 01, 2008 ... Byline: MARIA OLIVIA RECART The Chilean government recently announced a comprehensive set of initiatives aimed at assuring its full integration with global financial markets and enhancing Chile's position as an exporter of financial services to Latin America and the world. ...
Financial Intelligence Guide: International Financial Centres - Qatar - Adding To Capacity, Raising Standards - Qatar Is Emerging As One Of The Middle East's Most Dynamic Economies, With A Clear Vision For Its Future And The Means And Determination To Ach.
Sep 01, 2008 ... Byline: STEVE MARTIN Qatar lies at the heart of the Gulf and is playing an increasingly influential role on the regional and world stages. Under the leadership of Qatar's emir, Sheikh Hamad bin Khalifa Al Thani, the country has taken steps towards the creation of a modern, ...
Financial Intelligence Guide: International Financial Centres - The Netherlands - Access To Europe - The Netherlands Offers One Of The World's Most Well-connected And Business-friendly Environments.(Company overview)
Sep 01, 2008 ... Byline: AKKIE LANSBERG In 1602, the Dutch East India Company was the first company in the world to go public. This means the Amsterdam Stock Exchange (today NYSE Euronext) is the oldest in the world, making the Netherlands the cradle of global equity trading, from the US ...
Financial Intelligence Guide: International Financial Centres - Sydney - Beyond The Beaches... - As Asia-Pacific's Fourth Most-prominent Financial Services Centre, With Plans To Open An International Financial Precinct On Its Foreshore, Sydney Is Going Fr.
Sep 01, 2008 ... Byline: MORRIS IEMMA Sydney as a global finance hub? It may surprise, but Australia's financial capital is a centre for innovation, from structured finance to funds management. And global firms are increasingly choosing its high-skill, low- risk environment for operations ...
Financial Intelligence Guide: International Financial Centres - Directory.
Sep 01, 2008 ... Deloitte As you would expect of a full-service advisory firm with global reach, Deloitte has, for many decades, played an important role in the growth and development of financial jurisdictions around the world. Its advisors are present in every jurisdiction of merit, providing ...