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Home » Daily Briefing » Morning Briefing 29 June 2016

Morning Briefing 29 June 2016

Morning Briefing

Brexit fallout continues to dominate the news: London bankers met on Tuesday to discuss the financial sector's responses to last week's referendum vote. Head of the British Bankers' Association Anthony Browne told the Financial Times that scrapping "EU red tape" could result in limited access for UK operations to the EU single market. Ex-EU commissioner for financial services Jonathan Hill cautioned that UK-based banks will probably lose their 'passport' rights that allow them to service clients across the EU. Meanwhile, to dissuade fears that the bank's drop in share price is anything more than temporary, Lloyds Banking Group's leader Antonio Horta-Osorio has bought an additional 100,000 shares in his bank.

Across the Atlantic, the US Supreme Court agreed on Tuesday to hear Visa and MasterCard's appeals to overturn an August 2015 ruling that they conspired to violate antitrust law by inflating ATM access fees.

Finally, in India, the financial system experienced a surge of bad loans during the half year ended March 2016 that leaves banks at risk for extreme credit shocks. The central bank reported in its half-yearly financial stability analysis that, being under considerable stress, state-run lenders could put almost a quarter of India's banking capital at risk.

Yuan dips further, shrugging off PBOC's strong fixing, as pound reverses recent gains
UK firms say it's business as usual but Branson warns on recession
Malaysia approaches fintech with Islamic
Brexit probably won't kill London's booming fintech scene
A new chatbot would like to help you with your bank account
South Africa: Oakbay still without a local bank, but talks 'continuing'
Angola's central bank sanctions seven banks

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