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.