Latest News
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‘Aggressive’ UniCredit springs surprise after targeting P2R capital relief
Bank capital experts were taken aback this week after UniCredit suggested that it would use subordinated debt to count towards its Pillar 2 capital requirements — a development that, if copied, could lead to a surge in the supply of additional tier one (AT1) and tier two bonds. It could also help financial institutions offset the negative capital impact of Basel IV. Tyler Davies reports.
05 Dec 2019 -
UniCredit is striving not to be a hostage to fortune
European banks are waiting for relief from central bankers, politicians and regulators. But UniCredit is positioning itself to offset several of the biggest problems facing the sector, giving it greater room to forge its own destiny.
03 Dec 2019 -
UniCredit pivots to targeting distributions
UniCredit’s plan until 2023, revealed in London on Tuesday, involves rewarding shareholders with larger distributions on the back of a growth in revenue. The payment of these distributions will be given greater protection, thanks to the creation of a new intermediate holding company to lessen the bank’s regulatory capital burden. Meanwhile, chief executive Jean Pierre Mustier was clear that large M&A does not form part of the bank’s plans.
03 Dec 2019 -
Freshfields: can investors put impact before return?
A research project to be conducted by Freshfields over the next 10 months will attempt to clarify the hazy area of whether it is legal for investors to prioritise the impact of their investments on the real world, including where this might impair returns.
29 Nov 2019 -
Equity investors: more aware of climate risk?
Economists at the European Central Bank said that stock markets were better than banks at reallocating investment towards greener sectors because of the greater role that equity plays in financing energy efficient sectors.
28 Nov 2019 -
The green debt-to-equity attention swap
Sorry, banks and green bond specialists, it is not all about you. It is time to focus on green equity as well.
28 Nov 2019 -
Bid-asks to gap out under buy-in rules, ICMA warns
The mandatory buy-in regime under the EU’s regulation for central securities depositories (CSDR) is expected to cause bid-ask spreads across bond markets to widen significantly, according to a warning from the International Capital Markets Association. The lobby group would like the rules changed.
28 Nov 2019 -
PRA charges Citi’s UK branch for failings in reporting
The UK’s Prudential Regulation Authority has handed three Citigroup subsidiaries a fine of £43.9m for problems with its regulatory reporting, in particular in relation to one of their capital and liquidity positions.
26 Nov 2019 -
HSBC restructuring will be a tough slog
HSBC’s anticipated cuts to its global banking and markets (GBM) division may make sense. But they will not be easy to pull off smoothly.
26 Nov 2019 -
FSB slashes Deutsche's G-SIB score, maintains HSBC's bucket
Deutsche Bank has moved down a bucket in the Financial Stability Board’s latest assessment of global systemically important banks (G-SIBs), with the German firm expecting further ‘efficiencies’ to stem from its broad-ranging restructuring plan.
22 Nov 2019
