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Creating unified trading data feeds is proving much harder — and more controversial — than foreseen
Bond specialists sceptical that auctions can yield better results than bookbuilding
When staff complain, they deserve a fair hearing, not a wall of silence
Waterfall of promotions follows Karia's move to insurance post
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The Bank of Italy has said that it is concerned that the introduction of a new minimum requirement for own funds and eligible liabilities (MREL) could prove troublesome for the business operations of Italian banks, given their limited access to international bond markets. -
On Thursday, the Bank of Greece revealed plans to manage the banking sector’s non-performing loans through securitizing them in a vehicle capitalised by the banks’ deferred tax credits (DTCs) — the latest move to speed up the push to clean up lenders’ balance sheets in the country.
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The European Council and Parliament overcame deep disagreements to reach a provisional agreement on a new version of the bank recovery and resolution directive (BRRD 2) this week, which includes cap on MREL requirements that will help Europe’s lowest-risk banks. The breakthrough has lifted hopes that EU lawmakers will approve a broader overhaul of European financial regulation before the European Parliamentary elections in May.
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The next few months in the run-up to Brexit will bring upheaval for debt capital markets and syndicate teams at London’s investment banks, as they work out which roles will have to be done from the European Union and which staff to move. But the pressure will not cease on March 29, as national regulators have considerable scope to compel banks to relocate jobs. Jon Hay reports.
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At the latest monetary policy meeting of the European Central Bank, governing council members mentioned the looming end of the targeted longer-term refinancing operations (TLTRO II). But experts reckon that the life of this cheap liquidity programme could be extended, and that it may even be used to help stem a financial crisis in Italy.
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Equita, an Italian independent investment bank, has made two hires as it seeks to beef up its fixed income offering.
