Equivalence won't do for Brexit, say banks

Three executives from global bulge bracket banks have called for more supervisory cooperation over Brexit, particularly on the side of the EU. All three expressed hopes for a Brexit deal that was more bespoke than just third country equivalence.

  • By Nell Mackenzie
  • 11 Sep 2018

Taking existing approaches like third country equivalence off the shelf would not work for financial markets operating between the EU and the UK, said three senior representatives from JP Morgan, Citi and Barclays, as they testified to the UK Parliament's Treasury Select Committee on Tuesday morning.

Because third ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 28,736.25 82 9.49%
2 JPMorgan 26,609.28 77 8.79%
3 Barclays 19,197.35 50 6.34%
4 HSBC 18,884.90 60 6.24%
5 BNP Paribas 18,849.94 38 6.23%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 9,498.80 2 86.78%
2 Swedbank 160.81 1 1.47%
2 Sumitomo Mitsui Financial Group 160.81 1 1.47%
2 SEB 160.81 1 1.47%
2 Nordea 160.81 1 1.47%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 ING 220.22 2 15.39%
1 Bank of America Merrill Lynch 220.22 2 15.39%
1 ABN AMRO Bank 220.22 2 15.39%
4 Morgan Stanley 114.77 1 8.02%
4 BNP Paribas 114.77 1 8.02%