About Bob

This author has not yet filled in any details.
So far Bob has created 90 blog entries.

Netting and pooling – not the same thing (unless you are the European Central Bank)

Many
multinational corporates have a pooling arrangement for the cash balances owned
by their various subsidiaries. For example this could be with Bank Mendes Gans
in Amsterdam, under Dutch law, with every subsidiary holding as many currency
accounts as it needs and periodically transferring surplus balances into them,
or drawing funds out if they are needed to […]

iPagoo’s insolvency puts question mark against NPA

FT story of iPagoo’s freezing by the FCA

We have recently blogged about NPA and Pay.UK’s loose governance procedures generally, but we need to focus in on the case of IPagoo/Orwell, and its implications for New Payments Architecture (“NPA”), and whether NPA is soundly based.

NPA is essentially the brainchild of Orwell’s CEO and CTO.

Orwell’s CEO was […]

Pay.UK governance: ongoing indications of a fiasco

Having taken a break from following the governance of Pay.UK
for a while, a quick skim underlines the prevailing chaos. We have already
written about the ditching of a key feature of ISO20022 XML and the broken
governance arrangements that have permitted this.

There is a claim to openness about Pay.UK’s affairs, but this is belied by both the […]

Pay.UK Board ditches main benefit of ISO20022 adoption

Pay.UK was set up to deliver a New Payments Architecture
(“NPA”) for the UK, implementing the blueprint that was passed to them by the
Payment Strategy Forum.

NPA would be based on the usage of the ISO20022 XML data format to enable rich data to flow up and down the payment chain between the two endpoints. This is […]

Can SWIFT’s Global Payment Initiative (“gpi”) help with KPIs on timing and cost of cross-border payments?

On the face
of it, SWIFT’s Global Payment Initiative, or “gpi”, should make a major
contribution to monitoring the cost and time expended on cross-border payments.

SWIFT
claims that US$40 trillion of payments were sent over gpi in 2018, that 3,500+
banks have signed up to it, and that over US$300bn are now being sent every day […]

How to avoid credit losses on Open Account trade

There have been several major bankruptcies in the UK recently in which ordinary, unsecured creditors have taken a major loss. These are creditors who have delivered supplies on Open Account. As soon as the delivery is accepted by the Debtor, the Creditor no longer has specific title to the goods: instead they […]

Daily Telegraph declines to print response to their critique of our Global Britain paper – but the evidence keeps mounting up

Jeremy Warner published an article in the Daily Telegraph on 9th July, taking issue with our Global Britain paper “Why the Eurozone’s fate makes an immediate Brexit vital”.

The title of
Jeremy’s article was “Claims that Britain could face a EUR200bn EU bailout bill
if it fails to execute a clean, no deal Brexit are alarmist and unwarranted”.

We […]

Usefulness of faster payment schemes for Cash Management in an economic recession

First published by AccountingCPD.net

There
appears to be a consensus that the world economy, and particularly parts of the
Eurozone, are slowing down or even already in recession. For Cash Managers this
is always the signal for tightening the belt, so as to ensure that their
principle objective is achieved: to have the right amount of money in the right
place […]

How huge financial liabilities require a quick, clean Brexit

We have had a paper published today through the Global Britan think tank about the fate of the Eurozone.

It has been endorsed by Steve Baker MP, the former Brexit minister who sits on the Treasury Select Committee of the House of Commons:

“This alarming report exposes the huge contingent
liabilities with which the UK will be saddled […]

BBC candidate on track to become PM

Rory “Stokpot” Stewart, the BBC’s candidate to replace Theresa May as UK Prime Minister, stormed into the second round of the contest yesterday.

He established a decisive lead over Andrea Leadsom, Esther
McVey and A.N.Other, and now proceeds full steam ahead into Tuesday’s next
round.

“I’m a lot closer to becoming PM than I was yesterday or even […]