Interbank Market News Scan: Prime brokers, banks, foreign exchange …

News links of interest …

Prime broker. Equiti Capital, a subsidiary of Equiti Group, announced today that its FX Desk has onboarded NatWest Markets as another Prime Broker. Equiti Capital Appoints Another Prime Broker In NatWest Markets (fxempire.com)

Banks. Two regional banks in Japan’s northern prefecture of Aomori said they were considering consolidating, joining a flurry of lenders seeking to survive amid narrowing margins from a rapidly ageing population and ultra-low interest rates. Two Japanese regional banks eye tie-up to fight margin pressures | Nasdaq

Foreign exchange. In criticisms of Federal Reserve actions, legendary investor Stanley Druckenmiller highlighted the case for bitcoin to replace the dollar. Legendary Investor Stanley Druckenmiller: USD Will Lose World Reserve Currency Status | Nasdaq

Foreign exchange rates of interest …

Currency PairsRates as of 8:32 pm EST 11 May 2021
EUR/USD1.2146
GBP/USD1.4137
AUD/USD0.7838
USD/CAD1.2095
USD/JPY108.6300
USD/NOK8.2568
USD/CHF0.9034
USD/SEK8.3206
USD/MEX19.9520
Source: Reuters
Selected Rates 
Fed Funds.05
Bank prime rate3.25
Fed Funds target rate.25
2-yr Treasury.16
10-yr Treasury1.63
30-yr2.35
Source: Bloomberg

Interbank Market News Scan: Banks, prime brokerages. Still Assessing Archegos fallout …

Links of interest …

Banks. The financial watchdog overseeing Danske Bank A/S says the European Union needs to re-examine the limits of client privacy if it’s serious about fighting money laundering and other forms of financial crime. Danske Bank Watchdog Calls for EU Debate on Client Secrecy Rules – Bloomberg

Banks. Foreign demand for a slice of Taiwan’s increasingly profitable companies is threatening to upend the central bank’s decades-old currency management policy. Taiwan Central Banker Says Currency Policy Faces ‘Turning Point’ – Bloomberg

Banks. Credit Agricole SA Chief Financial Officer Jerome Grivet speaks on Bloomberg Television about the bank’s trading performance, earnings and M&A strategy in Italy. The Paris-based lender’s profits jumped 64% to 1.05 billion euros ($1.27 billion) in the first quarter, boosted by a 17% rise in capital markets and investment banking revenue to 708 million euros, beating the highest analyst estimate. Credit Agricole CFO Jerome Grivet on Trading Revenue, Italy M&A, Q1 Earnings: Video – Bloomberg

Banks. Edward Bramson, the activist investor who targeted Barclays Plc, has said that business isn’t a science. But his three-year attempt to force through change at the British bank didn’t show much art either, hence his capitulation on Friday. Edward Bramson Picked a Bad Time to Bet Against Barclays Traders – Bloomberg

Banks. Wall Street firms have urged the Biden administration to ease the industry’s burden in complying with a flood of financial sanctions the U.S. has levied in recent years as a primary tool of foreign policy toward Russia, China, Iran and other adversaries. Banks Seek Biden’s Aid After Trump’s 1,000-Sanctions-a-Year Pace – Bloomberg

Banks, cryptocurrency, CBDC. As the cryptocurrency market continues to skyrocket – hitting a $1 trillion in February to double its market capitalization in just three months – enthusiasts such as Mark Cuban are increasing calls for the world to embrace digital and decentralized money. Cryptocurrencies, the billionaire said, are the future, especially as the world recovers from once-in-a-generation pandemic. Mark Cuban explains why crypto is the future, especially as the world recovers from a generational pandemic (msn.com)

Banks, prime brokerages. As Archegos has caused Credit Suisse to retrench in prime brokerage, it has set off a jockeying for clients by others. Dogecoin Is Up Because It’s Funny – Bloomberg

Banks, prime brokerages. Three years after he left in a leadership shakeup, former Credit Suisse Group AG prime broker head Indrajit Bardhan is returning to clean up his old unit in the wake of its multibillion-dollar losses from botched dealings with Archegos Capital Management. Credit Suisse Lures Back Prime Broker Head to Clean Up Archegos – Bloomberg

Banks, prime brokerages. The litany of setbacks is probably not over. Why foreign banks’ forays on Wall Street have gone wrong—again | The Economist

Foreign exchange rates of interest …

Currency PairsRates as of 6:45 pm EST 9 May 2021Rates as of 10:27 pm EST 6 May 2021Change in pips
EUR/USD1.21611.2060+101
GBP/USD1.39941.3904+90
AUD/USD0.78420.7780+62
USD/CAD1.21301.2154-24
USD/JPY108.6000109.1100-5100
USD/NOK8.20398.3028 -989
USD/CHF0.90050.9077-72 
USD/SEK8.30508.4223 -1,173
USD/MEX19.900020.0860 -1,860
Source: Reuters

Fed Funds and Treasury rates …

Fed Funds.05
Bank prime rate3.25
Fed Funds target rate.25
2-yr Treasury.14
10-yr Treasury1.58
30-yr2.28
Source: Bloomberg