February 16 2021
We had several conversations last week that showed renewed interest in what we call “agency prime brokerage,” or the business of engaging in securities financing for hedge fund clients without taking credit intermediation. But wait, isn’t credit intermediation part of the very definition of prime brokerage? Looking out a year or two, that may no longer be a certainly.
February 15 2021
The European Central Bank is moving to take a central role on the impact of climate change on monetary policy. This is a nuanced issue: after all, central banks do not have unlimited authority to tackle all ills. However, there is a well defined link between climate change and financial stability, and that’s the space where central banks can assert themselves.
