Asia leading global recovery, says Fawcett 22-Jul-2010
Asia is leading the global economic recovery, said Karen Fawcett, global head of transaction services at Standard Chartered.
Lessons learned during the 1997-1998 Asian crisis had helped economies in the region to withstand the shocks of the most recent global economic crisis. Speaking to Daily News at Sibos, Fawcett said relative to other regions, Asia had a "relatively successful" crisis and that the International Monetary Fund was forecasting Asian GDP for 2010 to be nearly three times that of OECD markets. There were three reasons for the success of the region, she said. First, the economic crises experienced in the region during the past decade had resulted in considerable bank consolidation along with conservative credit practices. Second,
Swift slammed for not forcing ISO 20022 migration 08-Sep-2010
David Bannister
Swift's decision not to force migration to the IS0 20022 standard is "a missed opportunity" to simplify standards in the industry that will have "negative consequences", say commentators on the swiftcommunity.net blogging area. Others are more damning, saying the decision sounds "the death knell for maxi Sepa" and will "dramatically slow down if not almost entirely stop any migration to the published ISO/MX standards". The comments follow a post, in the standards area of the blog, reporting an article that appeared in the Q3 issue of Swift's Dialogue . The post said: "The Swift board has resolved not to
