Top stories
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Berlin Hyp to bring first preferred senior after German law change
Berlin Hyp is set to become the first German bank to sell a preferred senior bond after issuers regained their access to the funding tool through recent legislative changes.
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Regulators mull climate risk charge in Pillar 2
The banking industry has largely backed efforts to use sustainable financing to cut capital charges through a ‘green supporting factor’. But regulators may use the stick, as well as the carrot, through temporary capital add-ons for dirty lending — something the financial industry is unlikely to welcome.
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Ringfences at the ready as UK banks reassure on reforms
The large British banks have just completed one of the most complex structural reforms they’ve ever undertaken, severing their UK retail businesses from their wholesale operations to meet ringfence regulations. The sheer disruption of the changes has led competitors to scent blood, while the UK banks have been anxious to reassure their clients that nothing will change.
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Analysts keep cool over Turkish risks for European banks
Banks with major exposures to Turkey were getting hammered after a loss of financial market confidence pushed the country towards a crisis at the beginning of the week. But analysts suggest that any fears of contagion into the European banking sector are overdone.
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Pfandbrief issuers likely to move first
Covered bond primary activity is expected to pick up from as early as next week with a couple of German issuers understood to be monitoring the market. FIG activity is predicted to ratchet up again the following week as borrowers move in advance of potentially negative rating news.
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UK gov agrees to open up Co-op Bank review
The UK government has said that it will provide full access to documents required to carry out an investigation into the supervision of the Co-operative Bank between 2008 and 2013, following criticism of the review’s protocol from the UK Treasury Select Committee.
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Aegon considers Vivat bid after sale reports
Aegon has said it will consider buying Vivat should its fellow Dutch insurer be put up for sale this year, but the firm added that it was “far too early” to talk about financing options.
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Corps, financials to follow SSAs on the SOFR
Corporates and financial institutions are planning to issue bonds linked to the Secured Overnight Financing Rate (SOFR), according to a US rates analyst.
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Lloyds shakes up Swiss market with benchmark bond
Lloyds Banking Group entered the Swiss franc bond market on Thursday after a seven year absence.
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Looming Italy crisis puts Turkey woes in perspective for Europe
Fears about the Turkish exposures of European banks have done little to distract fixed income investors from a brewing crisis in Italy. They may even have sharpened focus on the scale of the problems facing the country.
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Rabobank turns money markets green
Rabobank announced on Monday that it has launched the first ever SRI debt instrument for the short-term market — and was immediately able to print €1.2bn of paper 2bp inside its curve.
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Ålandsbanken plans debut senior bond sale ahead of MREL
Ålandsbanken, a small bank headquartered in the Åland Islands, an autonomous region in Finland, is seeking to launch its first public sale of a senior bond as part of a drive towards meeting its minimum requirement for own funds and eligible liabilities (MREL).
Go to GlobalCapital's FIG data pages for the most up to date information on the global financial institution bond markets. Find our FIG bond comments, FIG league tables by Dealogic and our priced deals database.
** NEW **
This now includes all the data from TheCover:
Covered Bonds Priced Deals database
Covered Bonds League Table Builder
Comment
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It’s a nexus, not a doom loop
The sovereign credit crisis spurred lawmakers to undertake a number of major initiatives designed to sever the ‘doom loop’ — the link between sovereign and bank credit risk. Recent events in Italy and Turkey show the limits of these policies, but not their impotence.
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Lat Am issuers have nothing to fear
Another month, another set of headlines to scare even the most resolute of EM investors. Yet it is nearly time for Latin American primary markets to make a comeback, and issuers shouldn't let their plans get derailed.
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Green CP: a step in the right direction
Rabobank has launched a green CP and certificate of deposit programme, opening up the world of short-term debt to SRI investors for the first time.
FIG Priced Deals Database
| Issuer | Maturity | Size |
|---|---|---|
|
|
||
| Toronto-Dominion | 20-Jul-23 | 1500 |
| Nykredit Realkredit | 19-Jan-22 | 500 |
| Bank of Montreal | 17-Nov-21 | 1000 |
| Credit Suisse | 2000 | |
| ABN Amro | 17-Jul-23 | 1250 |
Senior Debt
Bank/Insurance Capital
Covered Bonds
MTNs and CP
People & Markets
Bond Comments
Bookrunners of Global FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 64,642.45 | 228 | 6.58% |
| 2 | JPMorgan | 63,002.07 | 249 | 6.42% |
| 3 | Citi | 60,945.09 | 285 | 6.21% |
| 4 | Goldman Sachs | 57,687.34 | 470 | 5.88% |
| 5 | Morgan Stanley | 51,366.23 | 277 | 5.23% |
Bookrunners of Global Covered Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 9,704.99 | 54 | 5.49% |
| 2 | UniCredit | 9,192.82 | 61 | 5.20% |
| 3 | LBBW | 8,744.00 | 54 | 4.95% |
| 4 | Natixis | 8,477.22 | 42 | 4.80% |
| 5 | Credit Suisse | 8,000.81 | 42 | 4.53% |
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Bank Profiles
Latest news by market and league table performance
Bookrunners of Global Covered Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 9,704.99 | 54 | 5.49% |
| 2 | UniCredit | 9,192.82 | 61 | 5.20% |
| 3 | LBBW | 8,744.00 | 54 | 4.95% |
| 4 | Natixis | 8,477.22 | 42 | 4.80% |
| 5 | Credit Suisse | 8,000.81 | 42 | 4.53% |
Bookrunners of Global FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 64,642.45 | 228 | 6.58% |
| 2 | JPMorgan | 63,002.07 | 249 | 6.42% |
| 3 | Citi | 60,945.09 | 285 | 6.21% |
| 4 | Goldman Sachs | 57,687.34 | 470 | 5.88% |
| 5 | Morgan Stanley | 51,366.23 | 277 | 5.23% |
Bookrunners of Dollar Denominated FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 54,011.37 | 190 | 11.14% |
| 2 | JPMorgan | 53,201.53 | 180 | 10.97% |
| 3 | Citi | 49,399.51 | 226 | 10.19% |
| 4 | Goldman Sachs | 43,055.88 | 416 | 8.88% |
| 5 | Morgan Stanley | 39,744.53 | 217 | 8.20% |
Bookrunners of Euro Denominated Covered Bond Above €500m
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Natixis | 6,511.67 | 24 | 7.36% |
| 2 | UniCredit | 5,302.66 | 21 | 5.99% |
| 3 | Deutsche Bank | 5,002.94 | 16 | 5.66% |
| 4 | LBBW | 4,987.08 | 21 | 5.64% |
| 5 | Commerzbank Group | 4,984.41 | 19 | 5.63% |
Global FIG Revenue
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 365.83 | 497 | 7.62% |
| 2 | JPMorgan | 332.66 | 618 | 6.92% |
| 3 | Bank of America Merrill Lynch | 299.89 | 590 | 6.24% |
| 4 | Goldman Sachs | 276.71 | 375 | 5.76% |
| 5 | Citi | 264.54 | 592 | 5.51% |
Bookrunners of European Subordinated FIG
| Rank | Lead Manager | Amount €m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 4,729.28 | 11 | 10.98% |
| 2 | Barclays | 3,919.93 | 12 | 9.10% |
| 3 | UBS | 3,374.07 | 13 | 7.83% |
| 4 | BNP Paribas | 3,351.70 | 12 | 7.78% |
| 5 | Credit Agricole CIB | 2,490.29 | 7 | 5.78% |
