This is my penultimate review of 2013, as we head towards the shutdown season, so here goes
2013 was the year of meditation.
Banks had the chance to think, reflect, plan and look ahead.
After five years of manic panic, hysteria, anger, fear, angst and doubt, 2013 was the first year we could actually have a breather and consider what’s gone before and what is planned ahead.
This was reflected by the feel-good buzz at SIBOS Dubai, along with the fact that we didn’t have any disastrous headlines this year.
No LIBOR (well there was an FX issue); no major money laundering or major fines of a bank (well, apart from JP Morgan), but that was for last year’s issue); no issues of poor bank management or controls (well, apart from the Crystal Methodist); and a much more stable market generally.
The reason for the breather is that we just went through what I would call the year in-between.