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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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Holders of HSH Nordbank’s tier one securities have reacted angrily to the German bank’s announcement that it expects to write the instruments down further. Bondholders are also meeting later this month to vote on taking legal action against the bank. -
The Single Resolution Board has said that it could introduce ‘bank-specific transition periods’ for bonds that have been issued under English law and would otherwise cease to count towards the minimum requirement for own funds and eligible liabilities (MREL) after Brexit.
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UniCredit said in its third quarter results on Thursday that it would move to a model in which all of its legal entities were self-funding, gradually minimising its intra-group exposure.
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The chances of a profound transformation of financial markets to equip them to fight climate change rose this week, when the European Parliament adopted a bold set of policies that would require investors, banks and companies to take into account their impacts on the environment and society. Bonuses would be linked to sustainability targets.
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UniCredit has moved its target date for issuing instruments to meet its total loss absorbing capacity (TLAC) requirement from the end of this year to the end of March next year. Meanwhile, chief executive Jean Pierre Mustier is set to invest in the bank’s equity and additional tier one (AT1) notes.
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BNP Paribas, Crédit Agricole and Société Générale are making plans for the eventuality of a hard Brexit, in some cases putting swathes of bankers at risk of redundancy. Some DCM and sales teams have been asked to move, though each bank is taking a different approach as to who will need to be relocated to comply with EU regulations.
