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Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
Banks face an uncertain future as finance goes digital
Europe's regulator seeks to reduce complexity while 'preserving banks' resilience and resolvability'
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Banca Carige’s planned tier two bond, which tides it over until it can raise equity, will present the FIG market with some unusual features. But the unfamiliar intervention from a branch of Italy’s deposit guarantee scheme appears not to have roused the European Commission’s attention with regard to state aid rules. -
The Single Resolution Board published a position paper on Brexit on Thursday in which it explained that it would take a "case-by-case" approach with banks that fail to meet the minimum requirement for own funds and eligible liabilities (MREL) as a result of the UK’s departure from the European Union.
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The Special Situations Group at Goldman Sachs has structured private financing vehicles based in Luxembourg, which package up bundles of loans made by the group with an average rating of B/B-. The vehicle will also hold risk retention interests for Goldman-sponsored securitizations.
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Banca Carige announced its capital recovery plan on Monday, relying on friends and family to help it keep going. Italian banks have agreed to support it with €320m though the interbank deposit protection fund (FITD), and it will also be looking to existing shareholders.
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The European Central Bank has said that it will conduct a "comprehensive assessment" of six banks in Bulgaria, following the country’s bid to join the European Banking Union.
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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.
