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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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Market participants at the International Capital Markets Association’s primary markets forum on Wednesday questioned the value of technological developments in the syndication process that could remove human contact from the process. But regulatory and cost pressures will make technology all the more important, and arguably the last decade of bond market growth could not have happened with using technology to accelerate the new issue process.
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Santander returned to covered bonds this week with its first deal in nearly two years which, by virtue of its sheer size and duration, was remarkable. The two tranche deal included a 20 year piece that has not been seen in covered bonds for seven years. This was targeted to asset managers and insurers in the private sector — in sharp contrast to many other deals such as a €250m four year tap from LBBW that the Bundesbank mostly bought. The trades rammed home the distortion the European Central Bank's purchase programme (CBPP3) is causing the covered bond market which market makers said had potential to cause considerable mark to market pain. -
The Financial Stability Board has published its hotly anticipated paper on the final round of new bank capital requirements — Total Loss Absorbing Capacity, or TLAC. But the consultation paper, rushed out ahead of the G20 meetings in Brisbane this weekend, leaves the most important questions unanswered.
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A veteran of funding and hybrid capital at Lloyds Banking Group has switched to the investment side, taking the reins of the group's portfolio of assets to ensure it is in compliance with the liquidity coverage ratio.
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Intesa’s corporate and investment banking arm, Banca IMI announced third quarter profit of €58.5m on Monday, nearly half the €119.7m it reported in Q3 2013, driven down by high operating costs.
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UniCredit Group’s €2bn profit target for 2014 is within grasp after a decent set of third quarter results, which showed an improvement over last year at the group level. But the investment bank’s profits are still down on last year, despite an improvement in loan values for the first time in two years.
