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So far Bob has created 64 blog entries.

Brexit Withdrawal Agreement gives the EU ample scope to continue to spend on the UK’s credit card

The Daily Express issued a “shock horror” story on 30th December that the EU was in financial meltdown over the loss of the UK’s budget contributions.

This seems overstated.

They have no need to worry for a little while if they get their €40 billion “divorce settlement” – which will be used to cover normal expenditure and […]

EU Open Banking rules could backfire for Cash Management Sweeps

The EU’s second Payment Services Directive, with live date January 2018, has had as a main objective to foster the emergence of non-bank intermediaries called Third Party Providers or “TPPs”.

The purposes of a TPP’s offering would be to:

Create a single view for the customer of the balances on payment accounts at whatever institution in […]

Marketplace volatility requires reviews of Key Performance Indicators of Liquidity Management

Financial markets have been seeing increased volatility lately, and one does not have to look as far as Bitcoin to see it:

Seasoned corporate bonds have suffered an extended rout;
Financial regulators have raised concerns about “zombie” companies – those that can just afford their debt service at very low rates of interest, but who […]

Banks club together to apply IT solutions to Trade Finance issues

There is a lot of movement in the Trade Finance space around moving the business into the digital era. This blog is an overview of the most significant moving parts.

We have the International Chamber of Commerce process, in which a very large number of banks are involved. The ICC Banking Commission most recently met in […]

Phase 2 of Project Carlton on UK payments landscape: submerged by paper mountain

The last update we gave was that the sponsor of Project Carlton had signed off on the initial research and endorsed its sharing for validation with five or six interested parties.

We did that, got very favourable responses, and have then:

presented aspects of the research at industry events;
used the research as a basis for […]

Bank of England fears for UK financial stability in the face of the Italian banking crisis. Unicredit needs €35 billion more capital

The Bank of England recently woke up and issued its Financial Stability Report and Stress Test results – November 2018. In it the Bank warned that a “further deterioration in Italy’s financial outlook could result in material spillovers to the euro area and the UK” .

In its more detailed comments the Bank noted that Italian […]

UK headmistress threatens to close tuck shop

The UK’s headmistress, Theresa May, has issued a chilling warning to the 650 members of her House of Prefects – she will close off access to the Brougham Exit from the school grounds (known as the Brexit for short) unless a majority of house prefects vote for her school development plan at the next full […]

The curious incident of company No. 11536954 – Pay.uk Limited, founded 3 months ago

Pay.uk Ltd was founded three months ago (on 25th August 2018) as a company limited by guarantee no. 11536594 and registered to 2 Thomas More Square, London. Is that a surprise to you? It might be. On 10th October 2018 it changed its name to NPSO Ltd, NPSO being short for New Payment System Operator.

There […]

Request to Pay: challenges for the Treasurers of Creditors, but bonanza for the Treasurers of Debtors

“Request to Pay” or “RtP” is a new service planned for the UK by Pay.uk (formerly known as New Payment System Operator), and is likely to be adopted in some form within the Single Euro Payments Area as well.

The basic concept is that an invoice for regular utility supplies – like water, gas, electricity, phone […]

EUObserver publishes our article “US steps in to clean up Cyprus”

The EUObserver published an abridged version of our article that appeared earlier in “Lawyer Monthly”, about how the USA has had to apply mounting pressure on Cyprus to interdict the operation of the “Cyprus business model”.

You can download the EUObserver version here

This business model is the interaction of several factors:

the passport regime whereby foreign […]