Currencies
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on 05/02/2016Last week on thewealthnet - the biggest stories from wealth management you may have missed.
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News Team on 01/02/2016Pictures from the champagne reception sponsored by Deloitte
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on 23/12/2015
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on 21/08/2015Commentary and analysis on the recent move by the People\'s Bank of China to lower the renminbi\'s reference rate to 1.9 percent.
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News Team on 21/05/2015Barclays bank faces a financial penalty of £284,432,000 after the Financial Conduct Authority (FCA) found it guilty of failing to control its foreign exchange (FX) business.
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News Team on 29/04/2015The People\'s Bank of China has granted a 50 billion RMB RQFII quota to Luxembourg. Launched in Hong Kong in 2011, the RQFII (RMB Qualified Foreign Institutional Investor) scheme has been expanded to other jurisdictions since 2013, allowing the reinvestment of offshore RMB into the Mainland securities market.
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Ian Orton on 04/02/2015The possible impact of a surging currency on Swiss private banks’ profits is a subject that will occupy analysts and commentators in the months ahead. The reality is that foreign-currency denominated assets account for a significant proportion of client assets at virtually of the big Swiss banks, especially Credit Suisse, Julius Baer and UBS. But most of these banks’ costs are denominated in Swiss francs. This mismatch between costs and revenue earning assets will almost certainly have a malign impact on profitability going forward, unless the Swiss franc’s appreciation is mitigated or reversed.
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on 27/01/2015The recent move by the Swiss Central Bank to remove the cap on the country’s currency neatly highlighted the dilemma for asset allocators in the current environment: On the one hand, the current volatility in currency markets shows the dangers inherent in predicting the level of different currencies; on the other, it shows how profoundly currencies can impact investment returns.
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News Team on 26/01/2015Saxo Bank, the Danish lender which specialises in interest rate and currency hedging brokerage on margin, faces potential losses of more than $107 million following the Swiss central bank\'s decision to allow its currency to float freely against the euro.
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News Team on 21/01/2015Lombard Odier is to charge private banking clients negative interest rates on cash balances over CHF 100,000 as a result of the Swiss National Bank decision to abandon the franc/euro cap and cut its own deposit rate.
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