US regional banking crisis and the need for deposit insurance
Financial markets and the banking system breathed a sigh of relief on May 1st following news that First Republic, the troubled San Francisco-based lender that had hovered on the edge of failure for days, would be acquired by JPMorgan Chase, the nation’s largest bank, with funding and loss-sharing support provided by the Federal Deposit Insurance Corp. (FDIC). The S&P…
How will EU-UK normalisation impact financial services trade?
The agreement of the Windsor Framework on the Northern Ireland protocol is an important step towards ‘normalisation’ of relations between the EU and the UK. One immediate consequence has been speculation that the EU and the UK may disinter and sign the Memorandum of Understanding (MOU) on cooperation in financial services that stalled in mid-2021. While normalisation is…