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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 England’s new stress testing plan for big UK banks will set a higher capital hurdle than last year’s test — an average of 6.3% instead of the 4.5% in this year’s test. Individual banks will have different bars to clear, based on adding on their Pillar 2A capital requirements and big bank buffers.
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Credit Suisse will raise Sfr6bn of new equity and float its Swiss domestic arm, as part of a strategic overhaul in which it is also making big bets on Asia and wealth management.
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Morgan Stanley might have gone further than the other big US banks in cutting fixed income, but a rocky bond market still weighed hard on its third quarter numbers. Advisory revenues, however, swelled on the back of a booming M&A market.
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Mizuho International is hiring two bankers as part of its push to build out its financial institutions debt capital markets business.
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Markets may have contributed to falls in profits in the investment banking divisions of the US majors that reported third quarter results this week, but there were some silver linings among the clouds, including a year-on-year reduction in legal bills of billions of dollars between them.
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Rabobank’s €204bn mortgage portfolio is likely to be a prime target for tens of billions of euros in sales, as the Netherland’s largest bank prepares to shed €100bn or more in assets to comply with forthcoming rules.