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Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Bank M&A is back on the agenda, but talk of SMBC buying Jefferies is premature. The two firms are prioritising their multi-stranded alliance and a takeover now would jeopardise it
I don’t need to work, but I’m tempted to go back
Corporate broking relationships endure for decades and build deep roots between both individuals and institutions, enabling banks to win outsized revenues from clients they serve. No wonder that a new crop of banks are expanding their ambitions
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European authorities need to agree the Single Resolution Mechanism by the end of this month or they risk pushing it into the next Parliamentary session, or potentially scuppering talks entirely. This could hit market confidence in the periphery, as the proposed banking union would lose its future financial and institutional backing.
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Ken Olson the global head of equity-linked solutions for Standard Chartered has left the bank, according to a source close to the move. -
Citi’s Mexican arm Banamex missed out on a rating upgrade from Moody’s after having to revise its 2013 results downwards as the result of fraudulently filed invoices under an account receivable programme for oil services company Oceanografia.
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The European Banking Authority’s preparations for Basel III show big banks still struggling to meet their liquidity requirements, though they are doing much better on capital. At the end of June, the last monitoring date, only 24 of the 41 big banks the EBA examined had met their liquidity requirements, while one, unnamed, bank had a liquidity coverage ratio of less than 60%, when it needs 100%.
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The large international European banks were still €36.5bn short of their target capital levels under the Basel III framework, according to the European Banking Authority’s latest Basel monitoring exercise, which looks at the period to June 2013.
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EU banks could see their leverage fall if they apply Basel III leverage ratio rules rather than using only the potentially more stringent definitions in the European Capital Requirements Regulation, according to a paper from the European Banking Authority.
