Bond spreads are up 50 points, the head of the euro area’s crisis fund points out – as he warns Greece against announced alleviations for tax payers and pensioners which would have the country flunk its obligations.
Foreign exchange traders from six banks shared sensitive information in colourfully named Bloomberg chat rooms for five years. On Thursday, EU fines hit Barclays, RBS, Citigroup, JP Morgan and MUFG. Having revealed it all, UBS escaped punishment.
Around 100 people work with plans for a new Nordic payments backbone, P27, meant to enable real-time cross-currency payments between Nordic companies. Backed by six large banks, it should be operational before end-2020.
Only 2.5 percent of the first quarter’s $70 trillion of interest derivative contracts, were tied to benchmarks proposed to replace LIBOR when it goes obsolete at end-2021 – less then three years from now.
Just because the interest rate market is upside down does not mean deposit holders must pay to those who keep their money. At least not in the case of The Netherlands vs Deutsche Bank, where the verdict just fell.