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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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Standard Chartered is going through its peak of disruption, according to chief executive Bill Winters, as the bank cuts senior staff. It announced a comprehensive restructuring and restoration package on Tuesday, with a third quarter loss, 15,000 job cuts, a £3.3bn rights issue, and $100bn of assets to be restructured or sold.
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The head of capital solutions at Standard Chartered has left the firm as the bank’s restructuring efforts continue to take shape. -
HSBC has found yet more room to cut its capital requirements by adjusting how it models the risk of portfolios. But despite the balance sheet ‘improvements’, the investment bank has had a tough quarter, with fixed income trading revenue on the floor.
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A poor third quarter for Commerzbank’s investment banking division and the announced retirement of its chief executive has done little to spoil the bank’s overall sense of momentum, as it posted better profits than had been widely expected and revealed it would pay its first dividend in eight years.
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FIG bankers breathed a sigh of relief at the US Federal Reserve’s proposal, released last Wednesday, for implementing Total Loss Absorbing Capacity (TLAC) rules for US Global Systemically Important Banks (G-SIBs), which is seen as less severe than may had anticipated. But the rule as proposed could damage secondary market liquidity.
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Greek banks will have to address a €14.4bn capital shortfall as part of ongoing plans to strengthen the viability of the country’s banking system, said the European Central Bank on Saturday.
