The Bank of England (BoE) is expecting that
some “monetary policy easing will likely be required over the summer” as the
“economic outlook has deteriorated” on the back of the UK voting to leave the
EU, the BoE governor Mark ...
Swift has announced
that 73 banks worldwide have now joined its global payments innovation
initiative, aimed at improving the cross-border payments experience.
“It is great to see so
many banks from all corners of the globe participating in Swift’s global
The average daily input value of
trades submitted to CLS in May was $4.61 trillion, down 7.1% month-on-month but
unchanged from May 2015.
The input volume submitted to CLS
last month, combining the settlement and aggregation services, was 969,061. This
represents a 9.7% month-on-month decrease ...
A new regulatory
filing was made available today providing details of the $30 million settlement
that BNY Mellon agreed with the Securities and Exchange Commission (SEC) last
year relating to how it executed client FX transactions.
Profit & Loss previously reported in ...
The euro’s share in global reserves has fallen to below 20%,
its lowest level since 2000, according to a new report from the European Central
In its 15th annual review of the euro’s international role,
covering the period ...
The Australian Securities and Investment
Commission (ASIC) has brought charges against National Australia Bank accusing
it of “unconscionable conduct and
market manipulation” relating to its actions around the local interest rate
setting process, the Bank Bill Swap Rate (BBSW).
JP Morgan has published a document on its
website explaining its trade matching and last look practices in its principal
FX business. In it, while JP Morgan stresses it applies last look symmetrically
and does not use latency buffers, Profit
The Commodity Futures
Trading Commission has issued two orders filing and settling charges against Citi for misconduct in interest rate markets,
including the ISDAfix, Libor and Tibor interest rate benchmark fixings.
The first CFTC order
finds that, beginning in January 2007 ...
The retirements of two long serving
employees has triggered management changes in Citi’s FX sales and treasury
After 26 years Steve Compton has decided to retire from Citi. He joined the
Citibank swaps desk in 1989 and over the next ...
Following the departure of former head of
G10 spot and electronic trading, Richard Bibbey, and head of client execution,
James Dalton, earlier this year, Citi has unveiled its new management
Michael Plavnik and
Chirag Patel, respectively head of the ...