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Covered bonds might be in for their biggest ratings shake-up over the next year. The result could be the loss of many traditional investors, but others will step in to take up the slack.
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Contingent capital might seem like a clever tool for corporate borrowers to increase the equity credit of their hybrid securities. But investors should not get too excited: it's not time to set up that dedicated fund yet.
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Peripheral banks are struggling to tap markets, but a supranational guarantee scheme is not the easy solution it might appear to be.
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In the surreal world of accounting regulations, not being able to sell something turns out to be a good thing.
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Observing before acting has a veneer of sense about it. But we shouldn’t expect to learn anything much from the European Commission's observation period ahead of the introduction of the Liquidity Coverage Ratio. It's pointless.
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The faces may have changed but financial blunderers are still running the show in Dublin. The latest folly: selling one third of the best bit of their banking system for €1bn — after spending more than €60bn on the worst.
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By common consent, the best bit about the EBA stress tests was the level of disclosure they provided. Why has this been so hard to do? Even if Europe pulls back from the brink this week or this month, banks should start planning for a permanently tougher market.
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With a week to go until the European Commission unveils its interpretation of Basel III, there is still everything to play for. The ABS market needs to tear its eyes from the terror in the eurozone periphery and kick down a few doors in Brussels.
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The latest whinge about Europe's bank stress tests is ludicrous. The tests are short of the mark, not over it.