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Europe's regulator seeks to reduce complexity while 'preserving banks' resilience and resolvability'
Two senior bankers to leave, new roles for Tayler and Roose
Managing director is joining Citi's SSA and covered bond trading team
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European banks are about as close as they can be to having clarity on their minimum requirements for own funds and eligible liabilities (MREL). Now it’s up to them to figure out what impact the new bond standard will have on their funding plans, annual profits and business models. Tyler Davies reports -
Markets go into 2020 fretting about a global recession and an escalation of tradetensions between the US and China, according to 25 heads of debt capital markets in the EMEA market, in Toby Fildes’ annual outlook survey. Respondents are mildly pessimistic on spreads and fees in the primary markets as well. But on the plus side, bankers are feeling hopeful about sustainability-themed bonds and almost unanimously believe issuance will top $270bn.
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Equities are at record highs, rates at record lows; the US is quarrelling, China is slowing. As 2020 begins, participants are divided on which way markets will move. Toby Fildes picks 10 themes
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Even the best in class make mistakes. Coventry Building Society, incredibly well capitalised when compared with its banking peers, has been overstating its common equity tier one (CET1) ratio. Correcting the mistake does not affect its capital ratio greatly, but the episode raises questions over governance according to one analyst.
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Members of the European Parliament have restarted work on a controversial file on the secondary market for non-performing loans. They failed to come to an agreement last spring, with MEPs disputing the level of protection that should be granted to retail consumers.
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Andrea Enria, chair of the European Central Bank’s supervisory board, has confirmed that eurozone banks will be able to include subordinated debt as part of their Pillar 2 capital requirements. The resulting 90bp improvement in common equity tier one (CET1) buffers could help to offset "unwarranted consequences" from the implementation of Basel III, he said.
