THE failure of the European Union (EU) to complete its banking union is putting the continent’s lenders at a strong disadvantage, said UBS Group chairman Colm Kelleher on Wednesday (Jan 18).
THE yen dropped against major currencies on Wednesday (Jan 18) after the Bank of Japan maintained ultra-low interest rates, although it recovered some ground on expectations for tighter policy in the coming months.
UBS chairman Colm Kelleher said traditional finance firms were “systemically safe” after years of increased regulation, but guardians of global financial markets had further to go to eradicate the risks posed by the non-banking sector.
