.png){kind=logo}
GC Asia
Regulatory Capital
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.
06 Aug 2020
FIG
-
Senior Debt
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.
06 Aug 2020 -
Regulatory Capital
Investors embrace new AT1s as extension risk evaporates
Investors have been more than happy to buy into new additional tier ones (AT1s) this year, with a rise in spreads having minimised the risk that deals could be extended beyond their first call dates.
07 Aug 2020 -
FIG
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).
06 Aug 2020 -
Southpaw
Cost cuts central to Gottstein's Credit Suisse shake-up
Credit Suisse chief executive Thomas Gottstein has brought its investment bank back together but threatens to leave it with a diminished corporate finance business, David Rothnie reports.
06 Aug 2020 -
Bank Strategy
Market welcomes new Natixis CEO Namias
Investors appeared positive on Natixis's prospects after Nicolas Namias replaced François Riahi as chief executive.
06 Aug 2020
-
Quick Links:
Latest News
-
Vereker turns up at Santander UK
Six months after joining JP Morgan, William Vereker has been named as the next non-executive chair of Santander UK.
07 Aug 2020 -
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.
07 Aug 2020 -
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.
07 Aug 2020 -
Investors embrace new AT1s as extension risk evaporates
Investors have been more than happy to buy into new additional tier ones (AT1s) this year, with a rise in spreads having minimised the risk that deals could be extended beyond their first call dates.
07 Aug 2020 -
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).
06 Aug 2020 -
Bank capital: more than meets the eye
The coronavirus crisis is a further reminder that fundamentals are not the only thing that matters when investing in bank capital.
06 Aug 2020 -
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.
06 Aug 2020 -
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.
06 Aug 2020
Covid-19 bonds
-
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.
28 Jul 2020
Trending
-
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.
04 Aug 2020
Bond Awards
-
Covered Bond Awards 2020 - only a week left to vote!
Market participants are invited to vote for their best deals, issuers and lead manager before GlobalCapital Covered Bond Awards 2020 survey closes on Friday August 14.
06 Aug 2020
Regulatory Capital
-
Investors embrace new AT1s as extension risk evaporates
Investors have been more than happy to buy into new additional tier ones (AT1s) this year, with a rise in spreads having minimised the risk that deals could be extended beyond their first call dates.
07 Aug 2020 -
Bank capital: more than meets the eye
-
European banks turn to sub debt in Yankee summer spree
-
Dutch insurers resume dividend payments after strong earnings
-
BoE floats ‘temporary changes’ to capital buffers
Senior Debt
-
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.
06 Aug 2020 -
CMB Leasing revives 10yr bonds for China FIG
-
MREL woes resurface for Metro Bank
-
Covid has bolstered the case for joined-up banking supervision, says BIS
-
CICC seals $500m bond inside fair value
Covered Bonds
-
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.
07 Aug 2020 -
Covered Bond Awards 2020 - only a week left to vote!
-
Nykredit readies last tap of biggest ever covered
-
Squeeze tightens but no room for complacency
-
Renovation revolution spurs green covereds
People & Markets
-
Vereker turns up at Santander UK
Six months after joining JP Morgan, William Vereker has been named as the next non-executive chair of Santander UK.
07 Aug 2020 -
Govs face dilemma on relief measures
-
Bank capital: more than meets the eye
-
Small banks pin hopes on BoE reducing the scope of MREL
-
Cost cuts central to Gottstein's Credit Suisse shake-up
MTNs & CP
-
BNPP sells MTNs linked to new Aussie climate index
BNP Paribas has issued a series of green medium-term notes linked to the performance of the new Australian Climate Transition Index (ACT), which is made up of companies expected to thrive in the transition to keep global warming below 2°C.
05 Aug 2020 -
TD Securities shakes up MTNs team
-
Bank of China (Djibouti) debuts in MTNs
-
Bank CP funding needs likely slashed by TLTRO take-up
-
NatWest sells first structured Sonia deal
Covid-19 Crisis
-
RMBS
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.
07 Aug 2020 -
Covered Bonds
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.
07 Aug 2020 -
Regulatory Capital
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.
06 Aug 2020 -
People & Markets
Dutch insurers resume dividend payments after strong earnings
Solid financial results are encouraging Dutch insurance companies to resume dividend payments and share buyback programmes after getting the green light form the national regulator.
06 Aug 2020 -
Asia
Social bonds ‘come to the rescue’ during pandemic
Social and sustainability bonds have blossomed in Asia amid the Covid-19 pandemic, with debt bankers expecting more supply from the asset class for the rest of the year.
03 Aug 2020 -
Covered Bonds
Covered frameworks using SPVs clearer and safer for bondholders, says Fitch
Covered bond issuers using programmes containing a special purpose vehicle (SPV) have more guidance on the treatment of bad loans and protect bondholders further compared with those using integrated templates, Fitch said this week when assessing the risk coronavirus era mortgage payment holidays pose to the asset class.
31 Jul 2020 -
Regulatory Capital
Second wave concerns cast doubt over H2 window for banks
Banks will have a very small window for issuing debt in the rest of 2020, with fears over rising coronavirus infections and US politics expected to bring volatility back into the market, deal arrangers have warned.
30 Jul 2020 -
Bank Results
DB’s Johnsson: perceptions of our ECM franchise have changed
Deutsche Bank on Wednesday released a stellar set of results for origination for the second quarter, compared with consensus estimates, its previous results and to a lesser extent competitors. Henrik Johnsson, co-head of European banking and capital markets, said that the bank’s strengths became more valuable during the coronavirus crisis.
29 Jul 2020 -
SRI / Green Bonds
Green thinkers keen on new UK state bank
The UK government looks ever more likely to create a new public sector bank focused on green infrastructure. Policy experts welcome the prospect, but there would be many choices to make over the structure and financing of the organisation.
28 Jul 2020 -
Regulatory Capital
ECB tells banks to suspend dividends for the rest of the year
The European Central Bank recommended this week that banks do not pay dividends or buy back shares until the start of 2021 at the earliest. It is also calling for 'extreme moderation' over banker bonuses during the coronavirus pandemic.
28 Jul 2020
Go to GlobalCapital's FIG data pages for league tables and all of the latest information on priced deals, including covered bonds.
View FIG DataIn 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.
14 May 2020
-
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.
06 May 2020
