Rate-setters around the world are in a bind. The zeitgeist demands they share every twist and turn of their deliberations. But too bright a light can be blinding. Hard talk is often best done in private. While some transparency is good, more is not always better.
Europe could split off payments owed to Greece from its second bailout, according to reports. The move could break an impasse over reform talks and avoid a messy default. Yet Europe would have less leverage over the Syriza-led government and the Greek economy would suffer.
Financiers unhappy with tougher regulation can cite new analysis from the BIS. The central banks’ own central bank says new standards will probably change how economies and markets work. But the BIS is firmly focussed on coping with the new paradigm, not returning to the old one.
Two-fifths of FTSE 100 companies are heeding calls to reform bosses’ long-term incentive plans. But several of reformer-in-chief Fidelity’s UK quoted fund manager peers are yet to sign up. They should be championing governance best practice. Non-compliance merits explanation.
France objects to Britain adopting its own extra-tough bank structural reform, reports say. But there’s little to gain from ring-fencing retail lenders, and a flexible UK can negotiate a better deal with Brussels. A British retreat could kill two birds with one stone.
When markets hang on your every word, rate-setters have to be careful what they say to whom. An ECB board member crossed the line and the euro zone central bank is under fire. Now it’s clamping down on dealings with media. Such undersharing can be just as bad as oversharing.
Germany’s biggest bank tweaked its management ahead of today’s AGM. The shift in responsibilities falls short of the leadership overhaul some shareholders seek. But co-CEO Anshu Jain’s new strategy role makes him directly accountable for much-needed cost cuts.