-
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.
-
There is something strange about allowing banks to use ordinary senior debt to count towards their minimum requirement for own funds and eligible liabilities (MREL). -
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.
-
Market participants should not become complacent about the battles that are still taking place over the handling of the resolution of Banco Popular, because the outcome is likely to form the blueprint for what will happen when any large European bank fails in the future.
-
The concept behind the European Secured Note was never genuinely driven by a desire to improve bank funding options, but by a need to ring-fence the quality of assets in covered bonds.
-
Brexit has been a slow-burning problem for the City of London, but burning it is. Financial markets are regulated. With worse access to Europe, the UK must make itself attractive to financial firms in other ways.
-
There has been much fiercer competition for attention between banks and corporates in 2018, but things could get a whole lot worse in the second half of the year.
-
With Lloyd Blankfein, arguably Wall Street’s most successful CEO, stepping down, Goldman Sachs is ready to face up to a new challenge. Fortunately for David Solomon, his replacement, the bank’s unique model is working properly again.
-
The insurance industry may be well established in developed countries, but protection against disasters remains patchy. Helping the resilience of entities trying to bridge this gap is a way for socially responsible investors to show their worth.
-
Additional tier one will not die out in Europe if governments remove tax deductions on interest payments, but the latest debate about their fiscal status shines another light on an asset class in a state of confusion.
