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European Council president Donald Tusk this week told European Union leaders their “utopian” illusions were tearing Europe apart. They may end up doing the same to its banking sector.
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Regulators don’t want their banks getting any larger, and are offering incentives for firms to shrink. But as Italy gears up to rescue another firm with less than €50bn of assets, how small does a bank need to be before it’s no longer TBTF?
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A slew of onshore bond defaults by Chinese state-owned entities has sent a chill through the market over the past couple of months, with more expected to be in store. But with the market calming down in May, it’s time to take stock and realise that such defaults are part of China’s transition to a market-driven economy — and are essential for the long-term health of the country’s debt market. -
UniCredit’s chief executive, Federico Ghizzoni, has been forced out. There are grumblings about the bank’s low capital levels, high costs, and sprawling strategy, and suggestions that UniCredit needs to sell assets and build capital.
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Leaving the EU would harm the UK, Europe and the capital markets of both. There. We’ve said it even if you won't.
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Turkiye IS Bankasi’s consent solicitation — aimed at converting its disqualified tier two bond into a Basel III compliant instrument — has angered some investors, who feel Isbank is offering too little. But the bank is right to strong-arm investors who were aware of the risks they were taking when they bought the deal.
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Debt capital market bankers have long preached that diversifying into the US investor base is the next stage of development for Chinese issuers. But with recent transactions failing to resonate with stateside accounts, Chinese names should give up on US investors for now.
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Banking is a game with rules, and regulators set them. That’s why, when the chips are down, they can change them to make banks look better.
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By 2018, the European Commission will review the resolution directive that came into effect at the start of this year. In light of Italian banks’ recent struggles, maybe it's already time for a rethink.
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By 2018, the European Commission will review the resolution directive that came into effect at the start of this year. In light of Italian banks’ recent struggles, maybe it's already time for a rethink.
