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The Bank of England's unveiling of plans to look into providing Shariah liquidity facilities for UK Islamic banks was one of the highlights at last week’s World Islamic Economic Forum in Dubai. It’s a great idea, but there’s just one problem — this should have been done ages ago.
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The Bank of England's unveiling of plans to look into providing Shariah liquidity facilities for UK Islamic banks was one of the highlights at last week’s World Islamic Economic Forum in Dubai. It’s a great idea, but there’s just one problem – this should have been done ages ago.
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There’s a distressing tendency among equity analysts to underplay investment banking, especially when it comes to once proud universal banks like Barclays and RBS. CEOs play up their retail banking credentials, but the investment banks will have the last laugh.
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The European Central Bank’s covered bond purchase programme entered a new phase this week as eurozone issuance enabled it to buy the primary market, rather than relying on secondary where supply is drying up. Its buying is good news for peripheral banks but may cause investors to desert the core.
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If you had plotted the best possible outcome for the Comprehensive Assessment of Europe’s banks, it would probably have looked a lot like what happened this week. There were some failures in the tests, though few severe ones, and a grown-up reaction by banks followed.
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By asking insurance companies how their business models are exposed to climate change, the Bank of England has made a big advance in the world’s response. Governments may drag their feet, but at last the world’s financial architecture is beginning to realise the reality of global warming.
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Europe’s banks misvalued their assets by €47.5bn. That is the verdict of the European Central Bank, after its examination of eurozone bank balance sheets. The scale and quality of the exercise has been impressive, and the market seems to like it. But is it just a big nothing?
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A good appetite has long been seen as a sign of good health. And with the results of the European Central Bank’s comprehensive assessment showing that the eurozone’s banking system is, broadly speaking, healthy, banks need to start showing some of the signs of life they’ve been lacking since the crisis. Namely: lending.
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The Spanish covered bond law could be set for profound change that will bring it into line with the best in show schemes. However, as the claim of existing holders would be considerably diminished, a huge liability management exercise is justified.
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Europe’s banks are about to get a reality check. Or so say advocates of the European Central Bank’s comprehensive assessment, the results of which come out on Sunday and mark a major event in post crisis banking regulation.