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UBS has promoted Barry Donlon to run its debt capital markets business for Europe, the Middle East and Africa, alongside several other job changes. -
The Swedish national debt office (Riksgälden) said on Tuesday that banks would have two extra years to raise non-preferred senior debt for their minimum requirements for own funds and eligible liabilities (MREL). The announcement came a day after Svenska Handelsbanken sold an ordinary senior deal in the euro market.
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Italy is set to announce a new decree law that would allow banks to use public guarantees to cover 90%-100% of their lending.
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The European Banking Authority has made it clear when loans subject to Covid-19 moratoria should be classified as forborne exposures or distressed restructurings, following calls from the industry for further guidance in this area.
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The Single Resolution Board has said it will offer banks some flexibility around their regulatory reporting deadlines, easing the operational strain on the sector during the coronavirus pandemic. But European banks are looking more clarity on certain elements related to the minimum requirement for own funds and eligible liabilities.
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Investment banking revenue in March was lower than normal as the coronavirus pandemic sapped risk appetite — but it was far from a total wipeout.
