Latest News
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ECB relaxes timeline for NPL flow, in line with CRR
The European Central Bank is giving banks more time to provision for recently classified non-performing exposures, bringing its expectations into line with the EU’s new Capital Requirements Regulation.
11:30 AM -
Volcker rule undergoes slimming regime
The Volcker rule is set to be tweaked, simplified and watered down, changing the section of the US’s Dodd-Frank regulations stopping banks from engaging in proprietary trading. Only banks with more than $20bn of trading assets and liabilities will face the fullest compliance programme, while rules over what is identified as prop trading have been weakened.
21 Aug 2019 -
ECB clears way for vote on Carige’s €900m rescue plan
The European Central Bank has given Banca Carige the all-clear to try and carry out its latest plans to turn itself around. The ailing Italian lender said on Monday that its next step will be to ask its shareholders for their approval at a meeting next month.
20 Aug 2019 -
Latvia to wind up second bank in two years after ECB decision
The European Central Bank said on Thursday that AS PNB Banka was "failing or likely to fail", marking the second time in as many years that a Latvian bank has been declared insolvent.
16 Aug 2019 -
Polish mortgage law has ‘significant adverse effects’
A draft Polish law, requiring the written consent of property owners to transfer mortgages, would have “significant adverse effects on Polish banks’ funding” said the European Central Bank, with respect to the covered bond and securitization markets. However, a legal expert said there would be no direct impact on covered bonds.
15 Aug 2019 -
Bank Pekao has 2020 vision for debut Eurobond
Poland's Bank Pekao is planning to tap the Eurobond market for the first time in 2020, in order to set down a senior benchmark for the subsequent issuance of capital ratio raising bonds, according to Pawel Rzezniczak, head of investor relations and corporate development at the bank.
08 Aug 2019 -
Risk costs snag Commerz as outlook worsens
Michael Reuther, head of Commerzbank’s corporate clients division, expects more firms to enter the bank’s "intensive care department" as economic pressures weigh on European corporates. And in his unit the cost of risk more than tripled in the second quarter, helping to shrink operating profits.
07 Aug 2019 -
HSBC spins around on disco bonds
HSBC will grandfather its discounted perpetual (disco) bonds after all. Its decision last year to declare the securities to be fully eligible as tier two capital angered some investors: it has now backtracked after the introduction of new capital rules, although they will lose eligibility at a later date.
06 Aug 2019 -
Regulatory changes cultivate conditions for Korean covereds
Korea’s Financial Conduct Authority has supported the covered bond market this year with a series of new measures that aim to stimulate demand and supply. Its actions should promote local currency issuance, building on this year’s strong start.
06 Aug 2019 -
Créd Ag readies to ‘switch’ off next year after capital gain
Crédit Agricole said it could start to unwind the ‘switch 2’ capital guarantee provided by its regional banking network in 2020 after it revealed a small boost to its common equity tier one (CET1) ratio in its second quarter results on Friday. Meanwhile, capital markets and investment banking operations did not perform well over the quarter.
05 Aug 2019
