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Syndicate and trading executives get wider responsibilities
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Another derivatives strategy has fallen foul of volatile trading conditions, as ABN Amro on Thursday declared a $200m net loss as a result of the blow-out of a client’s positions. -
The Eurogroup made no progress towards creating a common EU debt instrument on Tuesday night, but member states will be able to fund their responses to the coronavirus crisis through a new credit line with the European Stability Mechanism.
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The UK government’s offer on Friday to pay 80% of the wages of furloughed workers came in the nick of time to save thousands of jobs in manufacturing and services. But few of those affected realised they were benefiting from a German idea. The move highlights how the coronavirus crisis is causing a rapid dissemination of techniques around the world.
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Intrum’s share price dropped sharply this week after short seller Muddy Waters disclosed it was betting against the firm’s stock price. The debt purchasing sector has been a popular target for short sellers for years, but the impact of coronavirus and associated measures is a further heavy blow.
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The US Federal Reserve has made it easier for the country's banks to eat into their total loss-absorbing capacity (TLAC) buffers without facing restrictions on equity and debt distributions.
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A rush to dollars in recent days has caused dysfunctions in various corners of the financial markets. The US Federal Reserve has rushed to put out the flames, including with new measures on Monday.
