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  • Trump exit unleashes Financial Stability Board to act on climate

    Trump exit unleashes Financial Stability Board to act on climate

    The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.

  • SG ends ‘refocusing programme’ with sale of Lyxor to Amundi

    SG ends ‘refocusing programme’ with sale of Lyxor to Amundi

    Société Générale said on Wednesday that it was looking to sell its asset management arm Lyxor to French investor Amundi. The transaction will wrap up a three year restructuring programme, which has added up to 90bp to the bank’s capital ratios.

  • Credit Suisse rallies despite bigger hit on Archegos

    Credit Suisse rallies despite bigger hit on Archegos

    Investors were relieved when Credit Suisse finally gave details this week about the damage it has suffered from its Archegos exposures. The losses were higher than expected, but they were not large enough to burn completely through the Swiss bank’s capital cushion.

  • Macquarie sanctioned by Apra over regulatory breaches

    Macquarie sanctioned by Apra over regulatory breaches

    The Australian Prudential Regulation Authority (Apra) hit Macquarie Bank with a A$500m ($378.4m) capital charge on Thursday, having uncovered serious faults in the firm's risk management practices. The announcement came a day after the bank paused its return to the sterling bond market.

  • ESG: the filter that lets everything through

    ESG: the filter that lets everything through

    Deliveroo and its shareholders raised £1.5bn this week. The IPO was a dog, priced at the bottom of its range and falling 20% on its debut. But it’s hard to feel sympathy for the investors.

  • KNOC bond clashed with banks’ own climate policies, NGO charges

    KNOC bond clashed with banks’ own climate policies, NGO charges

    An environmental activist institute has argued that the bookrunners of a Korea National Oil Corp $700m bond priced on Tuesday are being inconsistent with their own climate policies, and might even be taking legal risks, because of the issuer's exposure to tar sands oil production in Canada.

  • Political deals tarnish Taxonomy’s claim to science-based objectivity

    Political deals tarnish Taxonomy’s claim to science-based objectivity

    The polite world of sustainable finance has collided with the ugly reality of politics in the past week, as open strife has broken out over the European Union’s sustainable finance legislation, especially the Taxonomy. Conservative and progressive elements are battling over a host of issues, above all whether gas power should ever be classed as sustainable, and the validity and even legality of the Taxonomy is being called into question.

  • Sweden targets 2% ‘neutral rate’ for CCyB

    Sweden targets 2% ‘neutral rate’ for CCyB

    Swedish banks will have to maintain a countercyclical capital buffer worth 2% of their risk-weighted assets during normal times, according to new guidance from the nation’s Financial Supervisory Authority this week.

  • EU Parliament tries to fight dilution of SFDR

    EU Parliament tries to fight dilution of SFDR

    A leaked letter from the European Parliament, seen by GlobalCapital, shows the Parliament has joined in the debate about the Sustainable Finance Disclosure Regulation, which has been watered down to make life easier for institutional investors. The Parliament is calling for the rules to be strengthened, to help savers know which investments are green and ensure compliance does not become just a “tick box exercise”.

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