Financial milestones in 2016
As we leave 2016 behind, we take a look back at the main events around the world marking the global trajectory of finance over the last twelve months. Meetings, agreements and scandals in the course of the year proved decisive factors; below we have presented eleven key events during 2016:
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1January
The World Economic Forum was held in Davos, Switzerland, in January. BBVA Chairman Francisco González is shown during the event.
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2February
In the shortest month of the year the Institute of International Finance met for its IIF G20 conference: “The G20 Agenda under the Chinese Presidency”.
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3March
Argentina secured an agreement on holdouts in March with President Mauricio Macri, thereby bringing an end to the country's blocked debt.
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4April
BBVA CEO Carlos Torres Vila spoke at the "Money 20/20 Europe" encounter in April.
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5May
In May, Madrid was the venue for the IIF's Spring Membership Meeting. BBVA Chairman Francisco González pointed out the importance of digitalization in banks for the future of the industry.
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6June
In June the US Federal Reserve presented the results of banking stress tests.
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7July
In turn, European banks underwent stress tests in July. Monte dei Paschi di Siena obtained the worst score in the EBA stress tests, with a negative capital ratio of -2.44%.
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8September
In September, 95% of Spain's banks came together to produce the free Bizum payments platform.
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9October
Wells Fargo CEO John Stumpf stepped down in October following the fake accounts scandal. He was immediately replaced by Timothy Sloan.
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10November
Frankfurt-am-Main was the venue for the "Euro Finance Week" banking conference in November.
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11December
On December 1 the governor of the Bank of Mexico, Agustín Carstens, tendered his resignation to the country's president, Enrique Peña Nieto.