Articles on Banking

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Parliament in the early 1800s: good at resolving banking crises.

Response to past crises shames post-Lehman dithering

The fifth anniversary of Lehman Brothers’ demise is an opportune moment to take stock and contextualise what has happened since. And one good way to do so is to compare this government’s policy response…
Investment bank for sale, no careful owners. John Stillwell/PA

Banking’s Lehman lesson is that change must be cultural

This weekend will see the 5th anniversary of the collapse of Lehman Brothers, an event that tipped the world into economic crisis and shoved banking into the spotlight. The critical state of the world’s…
Taking banking back to its foundations. orangeacid

Reborn TSB evokes memories of another banking era

After an absence of 18 years, TSB banks reappeared on the British high street this week. Though much of the initial commentary focused on the new bank’s opening day website crash, a more interesting question…
Sailing through troubled waters. Chris Ison/PA

‘Window dressing’ will not restore JPMorgan’s image

Another week, another banking scandal. In the past few years we have seen what appears to be an endless line-up of banks behaving badly. They have engaged in rate manipulation, rogue trading, product mis-selling…
That’s one expensive cetacean. wwfunitedkingdom

A whale of a time: how traders cost JP Morgan billions

As long as there have been financial markets, there have been serious financial losses. But the traders of today have shown a talent for blowing billions. During the most recent round of financial misadventures…
Goodbye Wonga, hello credit co-ops? Catholic Church (England and Wales)

Welby’s Wonga wobble as he takes on the financial sector

The Archbishop of Canterbury, Justin Welby, has become increasingly involved in debates about the UK financial sector. The embarrassing revelations that the Church has invested indirectly in payday lender…
The market power of banks in funding will be challenged by the rise of super funds. Image from www.shutterstock.com

Rise of super funds will shape Australia’s financial sector

How will the shape of Australia’s financial sector evolve over the coming decades? How will the demand for finance change? Where will the supply of funds come from? Can we be confident that available funds…
Taking on water is the last thing a sinking vessel needs. amirjina

Bail ins are the new bail outs, but they won’t save banking

Bailing out banks is so 2008. It seems 2013 is the year of the bank “bail in”. It started with the Co-operative Bank in the UK, when the bank’s management decided to “bail in” some of its bond holders…
Tough times in the zone: the euro is holding out for a hero. Rock Cohen/Flickr

The European banking union as a matter of equality

Academics, politicians, international economists and central bankers alike talk and talk about the theoretical benefits of a European banking union. But these reflections go far beyond the current, real…
Welcome to London. Now would you mind fixing the economy? Alastair Grant/PA Wire

Here’s Carney: what to expect of Canada’s superstar banker

Like many Canadians to achieve high office in his country over the past half-century, Mark Carney came from an ordinary, middle-class background. And like his two immediate predecessors as governor of…
Bankers forgot how to be clever. Scott Ableman

Banking report suggests a cure for stupidity epidemic

For a brief period of time in the 1980s, one of the biggest selling t-shirts carried a print of an arrow which simply said “I’m with stupid”. It pointed to the person next to the witty wearer. In the 1990s…
Once feted as ‘conquistadors’, Spain’s banks now have problems closer to home. marciofleury

Spanish banks on the verge of a nervous breakdown

As in the movie that led Pedro Almodóvar to become an internationally famous film director in the late 1980s, Spanish banks have been “on the verge of a nervous breakdown” during the 4 last years, facing…
Troubled bank is co-operating with the authorities. Rui Vieira/PA

What went wrong for the Co-op Bank?

Collapsing business deals, massive financial losses, and a “junk” rating have made recent months a nightmare for the Co-op Bank. In March it announced losses of £634m for the 2012 financial year, largely…
RBS: Not as valuable as it used to be. David Cheskin/PA

RBS sale: bad for taxpayers, bad for banking

The UK could be about to make a multi-billion pound mistake. Plans to sell-off the 82% share of the Royal Bank of Scotland (RBS) and the 39% share of Lloyds owned by the taxpayer are gaining favour in…
The City has been plagued by financial disasters. Will the replacement of the Financial Services Authority with two new banking regulatory bodies be enough to stop the rot? AAP Pictures

After a long line of financial disasters, UK banks on regulatory change

If the UK Financial Services Authority (FSA) had been a dog, it would have been about 86 years old when it was put down on April Fool’s Day this year. Uncharitably, some say that the FSA, the lead regulator…
The scale of China’s off-balance sheet lending may seem extensive, but it’s not the scary beast that many commentators have made it out to be. Philip Jagenstedt/Flickr

Light among the shadows: the upsides to a financial crisis in China

In recent months, talk of an emerging crisis in China’s financial sector has been getting louder. A few weeks ago such chatter reached a crescendo, at least in terms of a narrative, when two Nomura economists…
Talk of the Cyprus bailout sparked a surge in the value of virtual cryptocurrency Bitcoin. zcopley

Is the Cyprus crisis a boon for Bitcoin?

For most of us, banks represent a trusted and safe harbour for our money. Investing in fixed term deposits for example, is widely seen as a low-risk strategy. The global financial crisis changed that view…
Cyprus is making a last-ditch bid to negotiate a bailout deal from the IMF, the EU and the ECB. AAP

As deadline looms, Cyprus’ fate lies in the hands of the troika

Last week, the Parliament of Cyprus rejected a bill that would impose a levy of 9.9% on bank deposits over the insurance threshold of €100,000 and a levy of 6.75% on deposits below the insurance ceiling…

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