William Webster
Glass half empty?
Bankers are again voicing their concerns over the cost of regulation and its potential to drive business elsewhere. Anecdotally they are...
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Barbican Consulting Limited
William Webster
Jun 26, 20142 min read
Carry Trades
Carry trades are frequently used to beat markets. They involve buying an asset that has a higher return than the cost of finance. Profits...
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William Webster
May 29, 20141 min read
Liquidity revisited
A few years ago a bank explained that it would make a market for $5m with a two point bid offer spread for a CDO should the client so...
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William Webster
Apr 29, 20141 min read
Policy Bias
When will interest rates rise? That’s a big question that faces markets and has the potential to upset asset prices. Past experience...
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William Webster
Mar 26, 20142 min read
Just a matter of time
I recently carried out a straw poll using a somewhat loaded question. “Do you think that Rogue trading is more or less likely in the...
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William Webster
Feb 26, 20141 min read
Lazy with numbers
In last weekend’s FT Terry Smith wrote about a $1.9bn error he had noticed in IBM’s 2009 cash flow statement. This got me thinking. How...
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William Webster
Jan 20, 20142 min read
The Bonus Issue
As readers of this blog will know I am not an advocate of complex regulation. It leads to problems. Bonuses are no exception. In a move...
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William Webster
Dec 20, 20131 min read
Time for the exit
Now all eyes are focusing on tapering you could be forgiven for thinking that rates will bound up just as fast as they went down. As...
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William Webster
Nov 22, 20131 min read
Depleted know how
In 2013 I never expected that I would be writing this but there seem to be those employed in banking from the top to the bottom that lack...
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William Webster
Oct 30, 20132 min read
Central Banking - something's wrong
In the run up to 2008 banks remodelled their business to take advantage of complex financing transactions and new products. This produced...
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William Webster
Sep 29, 20131 min read
FTP and QE
It’s now over three years since the FSA asked banks to implement funds transfer pricing. It was difficult to fault the regulator on its...
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William Webster
Aug 21, 20132 min read
Treasury credit risk
With overnight rates being 0.50% or lower how do you manage excess liquidity? A question many treasuries now face and one that’s unlikely...
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William Webster
Jul 18, 20131 min read
FLS loan pricing
In a recent letter from one of the largest UK banks to SME customers unsecured loans are offered at 8.75%. Cheap funding from the FLS...
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William Webster
Jun 11, 20131 min read
A fed up retail customer writes
The customer is not always right but the way you handle complaints says a lot about your business. Last May the Financial Ombudsman...
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William Webster
May 6, 20131 min read
Forward Guidance
Forecasting is a major pastime in financial markets. Economic indicators are pre-estimated. Company results are projected. Macro...
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William Webster
Apr 12, 20131 min read
The new regime
On 1st April 2013 prudential regulation came under the responsibility of the PRA. This covers 1,700 firms with resources focused on...
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William Webster
Mar 1, 20132 min read
Zero bank failure - shift in thinking
Be careful what you wish for. Bankers have for the past five years wanted less regulatory interference. But in a badly damaged financial...
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William Webster
Feb 10, 20131 min read
Escape Velocity
The great experiment called QE is about reducing leverage through the devaluation of money. The main thrust is to make sure that real...
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William Webster
Jan 10, 20131 min read
Index Linked Gilts - C for financial management
The recommendation by the ONS not to alter the calculation of RPI for index linked products is common sense. This is good news for both...
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William Webster
Nov 24, 20122 min read
Index Linked Gilts
Bond investors accept credit and market risk but one thing that’s far less easy to stomach is unilateral changes to terms and conditions....
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