Insufficient intraday liquidity can be catastrophic for financial markets, as seen in 2008-09. Despite efforts by regulators to curb the risks that contributed to the financial crisis, intraday liquidity received relatively little attention. But that is about to change.
The central paradox facing the infrastructure industry today is that while some 60% of institutional investors have underspent their allocations to infrastructure, there is a global shortfall of investment in infrastructure of over US$1 trillion per year. The gap can be bridged though, by improving communication between stakeholders and structuring investment opportunities with the needs of institutional investors in mind.
Much has been written about the possibility of a property bubble in the UK, but the market is a difficult one to measure. Given the dramatic differences in Central London market, the rest of London, the South East, other pockets where prices are rising such as Manchester and Bristol, attempting to take an average can be both a dangerous and misleading indicator.
Having insisted that the 1 February 2014 deadline for corporates to complete migration to the single euro payments area (SEPA) was non-negotiable, at a late point in time the European Commission (EC) agreed a six-month extension to 1 August. The amendment for the additional transition period was officially adopted on 18 February 2014.