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11 January 2013
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News on the global financial markets

  Morning Bell 
How to Motivate Employees
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  Industry News 
  • BoE leaves interest rate unchanged
    The Bank of England's Monetary Policy Committee left its rate unchanged Thursday at its first meeting of the year. "Most members of the committee are probably pretty happy to keep things as they are and see how the [government's Funding for Lending Scheme] evolves and how the economy picks up," said Vicky Redwood of Capital Economics. The Telegraph (London) (tiered subscription model) (10 Jan.), Bloomberg (10 Jan.) LinkedInFacebookTwitterEmail this Story
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  Regulatory Roundup 
  • ECB stiffens collateral rules
    The European Central Bank is responding to issues in France and Spain by ramping up control of how collateral from private lenders is accepted by national central banks. "We take these incidents very, very seriously," ECB President Mario Draghi said. "We've decided to create a data-quality compliance network and an ECB unit that are responsible for, first monitoring the data quality, by performing regular checks and reports and prompting improvements in national-central-bank processes and procedures, internal controls as well." Bloomberg (10 Jan.) LinkedInFacebookTwitterEmail this Story
  • UK hobbled in regard to foreign banks, Sants says
    The UK's Financial Services Authority takes a subordinate role in regulating foreign banks in Britain, making it more difficult to detect wrongdoing, said former FSA chief Hector Sants. The recent disclosures of manipulation of the London Interbank Offered Rate reveal that "the vast majority of the wrongdoing was done outside of the supervisory net of the UK. These big branches in the UK pose a significant threat to effective supervision," Sants told a parliamentary panel. Reuters (10 Jan.) LinkedInFacebookTwitterEmail this Story
  Spotlight on China 
  • China's mutual fund industry assets climbed 30% in 2012
    Mutual fund assets under management in China rose 30% in 2012 to $450 billion, helped by the launch of 260 funds and a late-year rally in the A-share market. Money market funds in particular were a big gainer, accounting for 20% of all AUM in 2012, up from 14% a year earlier. Overall, the mutual fund industry is expected to have another banner year in 2013. (10 Jan.) LinkedInFacebookTwitterEmail this Story
  AFME News 
  • IOSCO Secretary General David Wright and ECB Executive Board member Peter Praet will deliver keynote speeches at AFME's 2013 European Market Liquidity Conference
    The European Market Liquidity Conference is a high-profile, unique event on the European trading community's calendar that attracts 400-plus delegates from the buy and sell sides, fixed income and foreign exchange. The conference is scheduled on 13 February at Grange St Paul's Hotel in London. The content is designed and driven by market participants and therefore ensures that debates consist of genuine, in-depth discussion led by experienced, senior speakers.

    The conference programme will explore key topics on funding economic growth; structural changes of fixed income, currencies and commodities; and the impact of regulation on liquidity. Peter Praet, a member of the European Central Bank Executive Board, and David Wright, secretary general of the International Organisation of Securities Commissions, have confirmed that they will deliver keynote speeches at the conference.

    View the full programme and register. LinkedInFacebookTwitterEmail this Story
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  ASIFMA News 
Things which matter most must never be at the mercy of things which matter least."
--Johann Wolfgang von Goethe,
German writer, artist and politician

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