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8/16/2019

Client departures are a fact of life, Kimberly Foss of Empyrion Wealth Management writes, but there are things advisors can do to strengthen their relationships and lessen the likelihood of separation. Foss recommends knowing how to communicate with each individual client, using technology to provide the best information and providing additional services.

8/16/2019

The European Central Bank has shut down Banks' Integrated Reporting Dictionary after malware infected the website. The ECB says it is contacting people whose information might have been compromised.

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Reuters
8/16/2019

The UK pound on Thursday had its best day since Prime Minister Boris Johnson took office, rising above $1.21 following the release stronger-than-expected retail sales data.

8/16/2019

Banks worldwide, particularly those in Europe, have eliminated more than 48,500 jobs this year, filings show. Job losses might be underreported because of a lack of disclosure or because announced cuts have yet to occur.

8/16/2019

Average daily European equity trading volumes fell 15% in July to €53 billion while dark-pool volumes rose to their highest level since October 2017, a TABB Group analysis finds. The analysis also shows that periodic auction volumes have fallen after having risen following the introduction of the revised Markets in Financial Instruments Directive.

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The Trade (UK)
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TABB Group
8/16/2019

The Federal Reserve's recent interest rate cut and Brexit concerns might be behind a collapse of the basis between interest rate swap rates at clearing houses CME and LCH.

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Federal Reserve, Brexit
8/16/2019

ING has introduced the first sustainability-improvement derivative, which is tied to a firm's environmental, social and governance performance. Leonie Schreve, global head of sustainable finance, says that the market is evolving but that "there is appetite for sustainability products".

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Dutch bank ING, Leonie Schreve
8/16/2019

The European Central Bank has shut down Latvia's PNB bank, deeming it insolvent. The ECB said PNB had seen a "significant deterioration in its capital situation to the point that the bank's assets were less than its liabilities."

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European Central Bank, ECB
8/16/2019

Trade bodies are working to establish a single standard reporting template to cover different sets of European rules under the Securities Financing Transactions Regulation and the European Market Infrastructure Regulation to "avoid the divergence of standards in different areas of the market."

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ISDA, FIA
8/16/2019

Japan became the largest holder of US government bonds in June. Japan increased holdings of Treasurys to $1.12 trillion, surpassing China's $1.11 trillion.

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Japan, China, Treasurys