By Mike Dolan
LONDON, Sept 8 (Reuters) – The case for a tax on global financial transactions may have been perversely boosted by the relative success of foreign exchange markets through the past three years of world banking turmoil.
As markets in credit, interbank and securities lending malfunctioned and stock markets lurched violently, currency markets, for the most part, appeared to have a “good crisis”.
— John Kemp is a Reuters columnist. The views expressed are his own –
By John Kemp
LONDON, Oct 9 (Reuters) – Prominent banks and some business groups have warned policymakers their efforts to force standardised over-the-counter (OTC) derivatives transactions onto futures exchanges and into the clearing system will drive trading offshore and raise the cost of genuine risk-hedging for non-financial firms.
But scaremongering by the finance industry’s well-paid lobbyists about “unintended consequences” should not deter legislators from pressing ahead with a worthwhile reform.
ZURICH, July 24 (Reuters) – Nine central banks — including those from China and India — have joined the Committee on Payment and Settlement Systems (CPSS), the Bank for International Settlements said on Friday.
