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  • Bank of Cyprus sells €916m of NPLs to Pimco

    Bank of Cyprus sells €916m of NPLs to Pimco

    The Bank of Cyrus has announced the sale of a €916m non-performing loan (NPL) portfolio to Pimco, dubbed Project Helix 2 after the first Project Helix cleared €2.7bn of NPLs from the bank’s balance sheet.

  • Lower covered bond issuance increased OC levels, says Fitch

    Lower covered bond issuance increased OC levels, says Fitch

    Overcollateralisation (OC) levels have increased on covered bond pools since last year for European issuers, Fitch Ratings said this week. But while issuers in some countries, like the UK, showed a rise above the average, borrowers that have participated in central bank funding, like those in Germany, have managed to keep OC levels down.

  • Govs face dilemma on relief measures

    Govs face dilemma on relief measures

    Financial authorities face a tough call on how and when to exit from the exceptional regulatory relief measures they put in place to shelter borrowers from the worst impacts of the Covid-19 pandemic, according to the Bank for International Settlements (BIS).

  • European banks turn to sub debt in Yankee summer spree

    European banks turn to sub debt in Yankee summer spree

    Subordinated debt transactions in dollars from a trio of European banks left no doubts about the strength of the Yankee market this week. Bookrunners are encouraging issuers to execute trades in the asset class quickly, as they are unlikely to encounter better conditions before the end of this year, writes David Freitas.

  • Small banks pin hopes on BoE reducing the scope of MREL

    Small banks pin hopes on BoE reducing the scope of MREL

    Smaller UK lenders are hoping the Bank of England will limit the scope of the minimum requirements for own funds and eligible liabilities (MREL) this year, relieving them of the potentially challenging task of raising new bail-inable debt in the capital markets.

Covid-19 bonds

  • Bank senior Covid-19 response table

    Bank senior Covid-19 response table

    After the global eruption of the coronavirus pandemic, issuers such as governments, central banks and companies have been prompted to create new strategies to tackle the negative effects.


Trending

  • Is Monzo at risk of a capital crunch?

    Is Monzo at risk of a capital crunch?

    The auditor for digital bank Monzo warned that a slower than expected recovery could lead it to breach its capital requirements, even though at the end of February it had a much better capital ratio than traditional banks.



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Comment

  • Is Monzo at risk of a capital crunch?

    The auditor for digital bank Monzo warned that a slower than expected recovery could lead it to breach its capital requirements, even though at the end of February it had a much better capital ratio than traditional banks.

Covid-19 Crisis

In Depth

  • Bank of Ireland reopens AT1 market with wall-crossed trade

    Bank of Ireland this week issued the first additional tier one (AT1) capital instrument since the start of the coronavirus pandemic, minimising the execution risk by borrowing from the ECM playbook and wall-crossing the deal ahead of launch.

  • Will European banks be able to benefit from IFRS 9 relief?

    European lenders are debating whether it is worth them taking advantage of new IFRS 9 transitional rules, with some market participants suggesting they will largely ignore any capital benefit gained through these sorts of relief measures.