Barbara Pianese
Latin America Editor at The Banker
Host at The Banker Podcast
Latin America Editor @TheBanker Views my own. RT not endorsements.
Articles
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6 days ago |
thebanker.com | Barbara Pianese
The European Central Bank has warned against a possible delay to the implementation of the last major component of Basel III for lenders in the EU, in line with similar postponements in the US and UK, insisting that the framework provides “a good basis for sound risk management”.
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2 weeks ago |
thebanker.com | Barbara Pianese
Concerns have resurfaced about sales practices at Wells Fargo almost a decade after the bank was embroiled in a fake account scandal. According to a report by the Committee for Better Banks, a coalition representing frontline bank workers and unions, the pressure on staff to deliver sales goals has returned at the US bank.
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2 weeks ago |
thebanker.com | Barbara Pianese
UK banks may need to conduct more stringent due diligence when onboarding customers, experts have warned, in response to new rules announced by the Treasury following 2023’s “debanking” controversy involving NatWest and Reform Party leader Nigel Farage. The Treasury on Monday announced new rules requiring banks to give retail and business customers 90 days’ notice before the closure of their accounts, up from two months at present, and to provide written reasons before closing accounts.
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1 month ago |
thebanker.com | Barbara Pianese
Switzerland’s financial regulator, Finma, is pressing for expanded powers to ensure it has the necessary tools to oversee UBS, whose balance sheet has grown larger than the country’s GDP following its government-mandated acquisition of Credit Suisse. Finma is explicitly seeking the ability to fine senior executives, the power to intervene earlier in case of governance failures, and a more robust resolution regime in case of a bank’s failure.
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1 month ago |
thebanker.com | Barbara Pianese
US banks could be pushed to serve crypto-affiliated customers out of fear of political backlash, according to experts, as regulators remove reputational risk from supervision. Republican lawmakers previously accused agencies of using reputational concerns to justify debanking — the practice of denying or restricting services to certain customers.
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Everybody is betting on nearshoring. But is it really happening? Recently wrote about it #nearshoringmexico https://t.co/dR4ktOLh2v
No nearshoring signs in Mexico's foreign direct investment (FDI). Weak inflows in 23Q2 were driven by reinvested profits. Getting only the 10-year LatAm average in % GDP would mean $60bn in FDI annually instead of $35bn for Mexico. Remittances are almost twice as high already... https://t.co/EPjWuRh1VL
Mexico plans to modernise its fintech regulation, says Gabriel Yorio, the country's Deputy Minister of Finance in a recent press report. I've written about the law's shortcomings. #fintechmexico
Of the 650 fintechs in operation in Mexico, just 46 operate under its 2018 fintech law. Industry experts are lamenting its shortcomings. https://t.co/2ok2Q3iXjD
At least they could have framed the issue as a general lack of productivity rather than blaming the people..
Latin America, especially Mexico, has some of the most hard working people on the planet - and they are very productive. The reason the West is richer has a lot to do with structural issues - like major corporations sucking up money. "A land of useless workers" is insulting. https://t.co/8cP4s5HU2G
