Latest News
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HSBC’s UK plan intact despite global equities review
HSBC’s plan to develop its UK equities and corporate broking business remains intact, despite its decision to review its global equities business.
17 Oct 2019 -
Bond underwriting outweighs IPO slump at Morgan Stanley
Morgan Stanley posted fee growth in underwriting and advisory in its third quarter results on Thursday, leaving Goldman Sachs the outlier among the five big US banks in seeing revenues fall in investment banking.
17 Oct 2019 -
Solomon still planning a culture change at Goldman
A year on from being appointed chief executive, David Solomon is calling for patience in remodelling Goldman Sachs around new growth avenues. But there is much to admire on his first anniversary, writes David Rothnie.
17 Oct 2019 -
The Old Lady needs to lead on Libor
The Bank of England should extend Libor beyond its set date of 2021 — or risk financial institutions setting their own rules.
17 Oct 2019 -
Libor end in doubt as market players highlight litigation risk
Libor may be extended beyond the cut-off date of 2021, sources told GlobalCapital this week, as the market braces for litigation over more than $1tr of Libor-linked mortgages. Tom Brown reports.
17 Oct 2019 -
CMU gets a makeover — EU proposes revamp and policy shift
A report commissioned by European Union member states suggests rebranding the Capital Markets Union (CMU) a “Savings and Sustainable Investment Union”. Specific proposals include all large sovereign borrowers issuing green bonds, facilitating IPO access for smaller companies, and a group of select countries readying to harmonise insolvency rules.
10 Oct 2019 -
CMU is dead, long live the CMU
The branding may be on the way out, but there are plenty of reasons to be encouraged about the potential for real progress in the next phase of the Capital Markets Union.
10 Oct 2019 -
European Commission approves Greek ‘Hercules’ NPL securitization scheme
The European Commission has approved Greek plans to set up a scheme called Hercules to enable the country’s banks to cut their non-performing loan (NPL) exposures.
10 Oct 2019 -
European rules on internal MREL are ‘not okay’, says UniCredit’s Mustier
Jean Pierre Mustier, chief executive of UniCredit, said on Thursday that European banks were being put at a disadvantage by minimum requirements for own funds and eligible liabilities (MREL), as it overburdens subsidiaries of cross-border banking groups.
10 Oct 2019 -
Serra: bank equities insulated from ECB APP bubble
Davide Serra, founder and chief executive of Algebris Investments, presented a bullish case for financials on Tuesday, on the basis that their equity prices have been less manipulated by central bank asset purchase programmes than institutions in other sectors. But he thought that the European Central Bank (ECB) will end up buying banks’ senior unsecured bonds.
08 Oct 2019
