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Originator hired to go after bank bond issues in euros and dollars
Long-standing FIG DCM banker leaves after more than two decades
Syndicate and trading executives get wider responsibilities
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The European Parliament decided this week to cancel a vote on the draft text for a directive that would boost the secondary market for non-performing loans. Final negotiations with member states are now unlikely to start before September. -
The newly published Covered Bond Directive is viewed favourably by credit rating agencies, but it will not necessarily drive covered bond rating upgrades— in stark contrast to the Bank Recovery and Resolution Directive.
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Credit Suisse has hired a banker from NatWest Markets for its European financial institutions syndicate team.
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Société Générale is looking at cutting around 1,600 jobs across the group, while also closing its over-the-counter (OTC) commodities business and proprietary trading firm.
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Strategists at Deloitte fear that there is ‘no simple answer’ to the issue of retail investors holding bail-inable bank debt, despite changes in the Bank Recovery and Resolution Directive (BRRD) aiming to reduce participation from the sector.
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Nationwide announced the first distributed Sonia-linked RMBS on Monday, a milestone for the securitization market, which has lagged behind public sector and covered bond markets in switching to the post-Libor benchmark. The UK building society also switched the basis of its whole balance sheet to the new benchmark at the start of its new financial year on Friday.
