I recently saw a headline in the Financial Times that said some big banks think that shifting out of LIBOR may cost more than Brexit. I am sure that headline caused a collective gasp in some corners of the United Kingdom.It is hard to say which one of these monumental changes...
I’m a fan of James Bond films and can think of at least three films that included scenes on a train. There’s something high-stakes and action-filled about trains on the move.I see some parallels between moving trains and the transition away from Inter-Bank Overnight Rates...
Less than two weeks ago, the European Central Bank (ECB) published the euro short-term rate (€STR) for the first time. This marked a milestone for the ECB in the transition efforts on IBOR reform. Since the introduction of the euro, it is the first time that a crucial euro...
At the end of 2017, the German federal financial supervisory authority (BaFin) released a circular providing details about its requirements for IT security and processes at German credit institutions. Called BAIT, or Bankaufsichtliche Anforderungen an die IT, the circular...
On International Women’s Day this year, I want to share my story of how I balance family life and career.I am very satisfied with my life, and it is my hope that other women around the world can also build a life they love. In my case, it was very important to me to be able to...
Privacy is perhaps the most difficult to manage of the three areas of IT security risk that I’ve talked about in my blogs. (In the first article, I discussed security and in the second availability.)Indeed, if privacy risk is not managed properly, it will end up weakening a...
Watching how fintechs and established financial services companies come together is a bit like watching a romantic comedy.There always seems to be some big mismatch between the two partners that may seem inconsequential but is actually quite serious. One or the other partner...
In a networked economy, the German model of building strong economic infrastructure in each federal state, instead of centralizing institutions in one city, like Paris or London, is proving to be very valuable. Today, we can see the benefits of Germany’s decentralized...
As financial services companies look for a new home in Ireland in the midst of a potential Brexit, they must consider a myriad of issues as they go through the formal application process with the Central Bank and prepare to make the move.As financial services companies look...