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‘New kid on the block’ disrupts established order with lead role on Schroders takeover
Former MDB sustainable finance expert joins as HSBC rebuilds sustainability leadership
EU’s new real time price feed could be nice to have, but market participants are not sure it’s essential
Investment bank, like the group, wants to diversify outside France, and will lead with its strongest suit, real assets
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Sberbank is merging its corporate banking and Sberbank CIB divisions and plans to complete the integration by the end of 2018, with deputy chairman Anatoly Popov heading the combined entity. -
The European Central Bank on Monday fined Crédit Agricole for not obtaining permission to classify instruments as common equity tier one (CET1). GlobalCapital understands this related to ordinary shares issued in an equity raise.
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Bondholders have written to the Single Resolution Board criticising its delay in complying with an order to publish fuller versions of the valuations carried out for Banco Popular, the Spanish bank that failed last year.
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The European Central Bank announced on Monday that it was imposing a €4.8m penalty on Crédit Agricole for not obtaining prior permission for classifying instruments as common equity tier one (CET1) capital. It is the second largest fine it has handed to an entity in relation to its supervisory tasks.
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The large British banks have just completed one of the most complex structural reforms they’ve ever undertaken, severing their UK retail businesses from their wholesale operations to meet ringfence regulations. The sheer disruption of the changes has led competitors to scent blood, while the UK banks have been anxious to reassure their clients that nothing will change.
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The banking industry has largely backed efforts to use sustainable financing to cut capital charges through a ‘green supporting factor’. But regulators may use the stick, as well as the carrot, through temporary capital add-ons for dirty lending — something the financial industry is unlikely to welcome.
