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It would be madness for the European Banking Authority not to consider the impact of the European Central Bank’s long term refinancing operation (LTRO) in next year’s stress tests for the bloc’s lenders. But should banks really be penalised for making use of a funding tool that was designed to help them?
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‘Blog is not essential to the running of EuroWeek and has been sent home on unpaid leave.’
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George Richardson, of World Bank fame, may just be the last of the great action heroes. The erstwhile naval aviator does not mind taking the highway to the danger zone. He proved this earlier in the summer by hiking his way up Mount Kilimanjaro.
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The European Commission’s attempt to make the money market fund industry more robust is commendable, but the tactics it has adopted leave much to be desired.
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Demand from private bank investors in Hong Kong and Singapore was once a cornerstone for high-yielding subordinated bank debt trades. That bid has backed off recently, and as SocGen’s additional tier one trade showed, it is no longer dependable — but that’s no bad thing.
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With no worries over capital and its deleveraging programme complete, the French bank has a great opportunity to leap-frog rivals, writes David Rothnie.
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Demand from private bank investors in Hong Kong and Singapore was once a cornerstone for high yielding subordinated bank debt trades. That bid has backed off recently, and as SocGen’s additional tier one trade showed, it is no longer dependable — but that’s no bad thing.
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The European Commission’s attempt to make the money market fund industry more robust is commendable, but the tactics it has adopted leave much to be desired.
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Société Générale took a brave step into the world of new-style CRD IV-compliant capital on Thursday, bringing the market’s second-ever additional tier one transaction.
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Over-bloated sector teams have suffered as investment banks have cut their coverage efforts to reduce costs. David Rothnie reports on whether they have gone for good.