Community

Good move by Google especially since it has released an app that enables "banks and credit providers to remotely lock a mobile phone if the user fails to make installment payments." ~ Finextra. 

I'm sure bricking a phone will be a more effective way of recovering loans than calling up random people on borrower's phone book and harassing them. 

Nice post. But it's not depositor trust alone. Another intrinsic guardrail of the banking system is the presence of central bank as "lender of last resort". 

Also reminds me of a time when ALM stood for Asset Liability Management:)

I totally agree that regulators need to be held responsible.

The common thread we're seeing in the failures of Wirecard in Germany, SVB in USA, and YES Bank and PMC Bank in India is that tightly regulated companies suddenly end up collapsing. 

High time sinecure bureaucrats were penalized for incompetence, dereliction of duty, or worse.

Nope.

Data Mesh Architecture shifts "the responsibility for data from the central data team to the domain teams." Ergo, DMA drives siloization of data. 

From there, it's up to silo owners to hoard data due to DaaCA or sell data due to DaaP. Data Mesh Architecture has no role to play in that.

Sounds like Exhibit 99999 of regulatory bluster from US regulators. 

Unless JPMC shares the terms of its contract with Frank and the details of the deliverables it received from Frank with the regulator, how can a regulator unilaterally know whether a non-public company is truthful in its representations or not?

One of the canonical objectives of CBDC is to disintermediate commercial banks by letting the common man have an account directly at the central bank - e.g. FedAccount in USA - and enjoy unlimited deposit guarantee since the account have sovereign guarantee.

Not sure if that's the goal of Digital Euro but if is, I can understand the reticence of the authorities / ECB to explain its business case too clearly to European banks!

DaaP may be a new name but it's a very old concept - that unfortunately hasn't worked.

In reality, DaaCA (Data as a Competitive Advantage) kills Data as a Product, especially in the financial services industry. 

With a raise in data privacy regulations like GDRP and CCPA and growing concerns around data sovereignity etc., I'm afraid DaaP will face more, not less, headwinds going forward.

Can't say the warnings were not there: Open Banking: EU v. USA.

Contrary to what the industry thinks, I believe the problem lies in lack of compelling value propositions in the Open Banking offerings from the industry rather than absence of direction from government agencies. 

If CFTC knew that Binance was violating CFTC rules and did nothing about it for years, then, contrary to its claim, CFTC HAS tolerated willful avoidance of US law.

I was gung-ho about the prospects of BaaS before SVB collapse but their outlook looks murky now as customers are withdrawing funds from small / regional banks and putting them into megabanks, who have been lukewarm about getting into BaaS.