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While Crédit Agricole is to be congratulated on its cleverly engineered lower two deal priced on Tuesday, it goes completely against the grain of what Basel is supposed to be trying to achieve: a simpler banking system, with bank capital instruments that are easy for investors to understand.
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Lloyds Banking Group’s foray into yen denominated RMBS is a positive step for the market, but it’s also a reminder that the investor base remains highly concentrated.
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In the second editorial about Switzerland’s plans for contingent capital, EuroWeek reasons that the Swiss market is the ideal place for the new CoCo revolution to take root.
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In the first of two editorials about Switzerland’s plans for contingent capital, EuroWeek argues that the country’s proposals to address the problem of too big to fail banks are a breath of fresh air in the disjointed international debate. Other regulators would be wise to study them closely.
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By looking after banks’ senior bond investors, the Irish government has given itself a chance — albeit a slim one — of getting the financial system back on its feet.
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European securitisation’s long rehabilitation process is about to enter a new phase.
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Allowing banks a longer transition period to bolster their balance sheets is a small price to pay for retaining strong prudential standards in the long term. The Basel Committee has got its priorities straight.
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European ABS is on the rise, but it needs to find more investors before appetite wanes.
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The Basel Committee says that its latest proposals will level the playing field between systemically important banks and their smaller peers. Subordinated debt practitioners say it will widen the divide between the haves and have-nots. Only one thing is clear: the banking sector’s cost of capital is set to soar.
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Leak sometimes just wants to help the single girls out there. And so, in the spirit of a list doing the rounds of the City of the top banks at which to find an ideal husband, we decided to do a little reverse enquiry on London’s MTN desks. Take your pick, ladies: