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Financial institutions specialist heads to German bank
New system starts with nearly 100% coverage of trading data
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
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The economies of Italy and China do not appear to have much in common. Italy’s government would welcome a GDP growth rate of 1%, while China expands at less than 7% and investors take flight. One is a sclerotic, decaying Western country, the other is a dynamic Asian tiger. Such is the conventional wisdom. -
A large group of investors is determined to reject a buyback offer on billions of euros in soured bonds guaranteed by the Austrian State of Carinthia — an offer that may represent the province's only chance of avoiding an unprecedented bankruptcy, writes Graham Bippart.
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Deutsche Bank has said it will make a full year loss for 2015, and a loss in the fourth quarter, with a litigation charge of €1.2bn in the fourth quarter, and an €800m restructuring charge. The new charge will take Deutsche’s litigation provisions for the year to €5.2bn.
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A big MBS settlement and a continued slump in trading and fixed income, currencies and commodities businesses slashed net earnings at Goldman Sachs by 65% in the fourth quarter of 2015.
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As a decision on whether Novo Banco has triggered a government intervention credit event heads to external review after weeks of ISDA Determinations Committee wrangling, some market participants are worried that a 'no' will reduce the value of financial credit default swaps, while others warn that a European-only result could open a rift with US contracts.
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Lower litigation costs helped Bank of America's wholesale business in the fourth quarter last year, but profits took a hit as the bank built its reserves against losses on its energy lending.
