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Transaction Tax To Boost Cost Of U.K. Debt

The European Union’s financial transaction tax could raise the U.K.’s cost of issuing its government debt by £3.95 billion ($5.98 billion) as investors could demand extra yield as their expense for trading the securities will rise, according to a study commissioned by the City of London Corporation.

  • 03 Apr 2013

The European Union’s financial transaction tax could raise the U.K.’s cost of issuing its government debt by £3.95 billion ($5.98 billion) as investors could demand extra yield as their expense for trading the securities will rise, according to a study commissioned by the City of London Corporation.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 BNP Paribas 9,725 17 21.27
2 JP Morgan 4,494 5 9.83
3 Citi 4,296 9 9.40
4 Bank of America Merrill Lynch (BAML) 3,067 11 6.71
5 Lloyds Bank 2,346 10 5.13

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
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1 Citi 60,171.95 171 11.52%
2 Bank of America Merrill Lynch 54,980.53 146 10.53%
3 Wells Fargo Securities 39,794.15 117 7.62%
4 JPMorgan 39,624.65 113 7.59%
5 Credit Suisse 30,978.90 74 5.93%