trending Market Intelligence /marketintelligence/en/news-insights/trending/gAW8isuJOum56iHXEpjoNQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

ING to end correspondent relationship with Malta's Bank of Valletta in December

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

ING to end correspondent relationship with Malta's Bank of Valletta in December

Dutch lender ING Groep NV will no longer clear U.S. dollar transactions for Bank of Valletta Plc, effective Dec. 14, the Times of Malta reported, citing a statement from the Maltese lender.

Bank of Valletta Chairman Taddeo Scerri told the Times of Malta that the bank is stepping up efforts to identify alternative correspondent banks to reduce potential operational disturbance to its businesses and customers. The lender is also working internally to improve its anti-financial crime structures and risk profile, Scerri said.

The move comes as ING seeks to shut down activities in areas it considers too risky to operate, after agreeing to a €775 million settlement with Dutch authorities in September 2018 to resolve a probe into its controls against money laundering.

Media reports about ING withdrawing from its relationship with the Maltese bank have been circling around for several months, while a Bank of Valletta official told the newspaper in May that the lender was preparing for such a scenario.

In 2017, Bank of Valletta lost U.S. dollar services through Germany's Deutsche Bank AG, according to the report.

Scerri added that general derisking across the banking industry is impacting smaller countries, such as Malta, where business does not produce substantial revenue to justify operations, costs and the inherent risk.