SRB mulls Brexit transition periods for English law bonds

The Single Resolution Board has said that it could introduce ‘bank-specific transition periods’ for bonds that have been issued under English law and would otherwise cease to count towards the minimum requirement for own funds and eligible liabilities (MREL) after Brexit.

  • By Tyler Davies
  • 12 Nov 2018

Elke Koenig said on Monday that the UK’s departure from the EU would “no doubt make an impact” on the resolution authority’s core business in 2019.

In particular there has been a focus on what should happen to the vast sums of debt that European banks have issued ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 13,951.26 77 5.56%
2 UniCredit 12,799.14 93 5.10%
3 Natixis 11,652.77 67 4.64%
4 UBS 11,388.66 61 4.54%
5 LBBW 11,285.83 74 4.50%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 87,198.51 364 6.21%
2 Citi 78,914.26 425 5.62%
3 Bank of America Merrill Lynch 78,244.27 325 5.58%
4 Goldman Sachs 72,613.81 636 5.18%
5 HSBC 71,510.81 339 5.10%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 70,551.16 252 11.09%
2 Bank of America Merrill Lynch 64,880.35 272 10.20%
3 Citi 61,732.00 323 9.70%
4 Morgan Stanley 54,578.23 314 8.58%
5 Goldman Sachs 54,299.46 565 8.53%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 8,357.33 33 7.02%
2 Commerzbank Group 6,550.39 26 5.51%
3 Deutsche Bank 6,535.71 22 5.49%
4 UniCredit 6,513.66 27 5.47%
5 LBBW 6,441.23 28 5.41%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 7,765.93 22 11.95%
2 BNP Paribas 5,338.58 23 8.21%
3 Barclays 5,124.61 20 7.88%
4 Credit Suisse 4,520.44 16 6.95%
5 UBS 3,976.00 19 6.12%