A look at the current top stories with US-based news site Treasury & Risk shows how the work at corporate treasuries has shifted drastically this summer – to make the most out of plummeting borrowing costs.
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.