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Italy prints €14bn in new record-smashing effort

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Italy prints €14bn in new record-smashing effort

Italy once again asserted its market access on Wednesday, raising a staggering €14bn — its biggest single tranche deal ever. The new issue was timed just ahead of Thursday’s ECB meeting, at which the governing council is expected to expand its Pandemic Emergency Purchase Programme (Pepp).

  

  

People & Markets

  • EBA: EU banks must disclose Covid-19 support for loans

    EBA: EU banks must disclose Covid-19 support for loans

    EU lenders will have to give more detail about their use of loan repayment holidays and public guarantee schemes during the coronavirus pandemic, according to new reporting guidelines published by the European Banking Authority this week.

  • US regulator warns of lockdown threat to financial stability

    US regulator warns of lockdown threat to financial stability

    The US Office of the Comptroller of the Currency (OCC) is urging local officials to ease their Covid-19 lockdown measures, warning that some banks are now suffering delinquency rates in the mid-double digits on their small business loan books.

  • MEPs target AT1 coupons in CRR amendments

    MEPs target AT1 coupons in CRR amendments

    MEPs proposed a series of amendments to the Capital Requirements Regulation (CRR) this week, including a couple that could compel banks to stop paying additional tier one (AT1) coupons during the coronavirus pandemic.

COPPLESTONE'S CARTOON

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Leaders

  • Europe is not wasting this crisis

    The European Commission has delivered its proposal for an EU recovery fund. It may not be full debt mutualisation nor a solution to low European growth, but it is a huge step forward.

  • Argentina’s awkward anecdote

    Only in Argentina could a finance minister claim that default on billions of dollars of bonds constitutes merely an “anecdotal date”.

  

 

DEAL CARTOON

BBVA brings Covid-19 bonds to European credit markets, others to follow

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Equity

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