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bankingCottage industry thrives on bypassing banksSubmitted by cahn on 19 July, 2009 - 4:15pm
Scott Langmack has given more than US$600,000 in unsecured loans to strangers. "I can reliably get 12 per cent, worst case 9 per cent," said Mr Langmack, 50, a former Microsoft marketing executive who began investing in so-called peer-to-peer lending last year. "I can't find anything that gives me this kind of confidence." »
THE OUTSIDER: Risk has become the department of no-can-do : David ChartersSubmitted by cahn on 30 June, 2009 - 10:38pmA few months ago I rashly went on the record as saying that one of the benefits of the financial crisis was that in future investment banks would have much improved risk management functions. And I believed it. Even now, looking back on it, it still makes sense. There was a clear disconnect not only between the rocket scientists on the trading desks who were taking on risk for their firms and the risk managers who were supposed to be supervising them, but in turn between risk management and the boards of some of the largest firms. »
Why banks can't afford to lose interest of depositorsSubmitted by cahn on 31 May, 2009 - 2:36pmDeposit rates in Hong Kong have fallen to a remarkable 0.01 per cent, and one bank has even brought it down to 0.001 per cent. This is really as close to zero as you can get. Frustrating, right? »
TARP Warrant Sale Shows Banks May Reap ‘Ruthless Bargain’Submitted by cahn on 22 May, 2009 - 11:35pm
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Donald Tsang's speech at luncheon of Credit Suisse "Asian Investment Conference"Submitted by cahn on 24 March, 2009 - 11:54pm
http://www.info.gov.hk/gia/general/200903/24/P200903240266.htm CE's speech at luncheon of Credit Suisse "Asian Investment Conference" (English only) (1) (with photos/video) »
What did I say then?Bank of China: legacy of an IPO | FinanceAsiaSubmitted by cahn on 27 October, 2008 - 1:13pmKind of PR stuff, but just as a record... "On July 25 2002, Bank of China Hong Kong successfully completed its US$2.5 billion IPO - the first international equity offering by an affiliate of a PRC bank. Traditionally the state bank specializing in foreign exchange transactions, Bank of China has always had an international orientation, with an extensive network of subsidiaries, branches and agencies around the world and the most direct knowledge among Chinese state-owned banks of evolving international banking practices. ...... Of a long list of firsts, perhaps the most significant is that this was the first international IPO out of the Chinese banking sector. It was both a step in the banking sector's reforms and an instrument to further such reforms. The enthusiastic market reception that greeted Bank of China Hong Kong can be seen as an endorsement of the reform efforts and measures that produced this new bank, although not to be neglected is the special place that this bank inhabits in the business community and in the hearts and minds of Hong Kong." more »
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