Not everybody is happy to meet synthetic collateral debt obligations (CDOs) again – the decade-long-lost friend of creative Wall Street institutions. Even though, this time, they are backed by corporate debt rather than crappy mortgages.
After an infrastructure-heavy first day of the PostTrade 360 Stockholm conference, the spotlight on Thursday was directed towards the funds’ issues. Jarkko Syyrilä of Nordea saw a need for the Nordics to take over Britain’s free-market champion role in the EU.
After recent news from JP Morgan – that it is launching its own dollar-pegged ”cryptocurrency” in a trial to radically boost administrative efficiencies – experts question the relevance of blockchain-enabled payments framework Ripple.
Evidence, mapped by Swedish public broadcaster SVT over five months, is said to show how as much as $5.8 bn could have funneled through the bank in possible money laundry related to Danske Bank's scandal in the Baltics.
The 2.000 corporate groups who are customers of payment backbone Swift could hope to save work towards the end of the year. They should then be able to share their know-your-customer information on the platform, with their banks and each other.