Banks redraw funding plans amid corona crisis

By Bill Thornhill, David Freitas, Tyler Davies
26 Mar 2020

The coronavirus crisis has made it difficult for banks to know how much wholesale funding they will need in the coming years. But when a window opened in the primary market this week, issuers showed that they are still focused on trying to build up their levels of total loss-absorbing capacity (TLAC), write Tyler Davies, David Freitas and Bill Thornhill.

The bank credit market lurched back into action this week, with nearly $30bn-equivalent of senior debt priced in euros and dollars.

Funding costs have jumped to new heights after weeks of panic over the impact of the coronavirus pandemic.

But several large banking groups were ...

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