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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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Provisioning for litigation costs has pushed UBS's third quarter results into a pre-tax loss, the bank said on Tuesday. Even strong performances in investment banking and wealth management were unable to offset the damage done by the extra legal provisioning.
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‘Credible’ is the word many are using to describe the European Central Bank’s Asset Quality Review and the European Banking Authority’s stress tests. But in the same breath that analysts are using to trumpet the regulators’ successes in holding Europe’s major banks to the flames and eliciting an immediate and broadly positive reaction from investors, some are also saying the system is still deeply flawed — and potentially unsustainable.
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24 banks, including nine in Italy and three in Greece, failed the European Banking Authority’s stress test of banking institutions in the European Union with a maximum aggregate capital shortfall of €24.68bn under the European regulator’s baseline stress scenario. -
The European Central Bank’s Asset Quality Review has added another €136bn to the stock of non-performing loans that eurosystem banks are holding, after changing the way loans are assessed across Europe as a whole.
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Spain’s new covered bond law, if passed, will mean a vast improvement in the quality of the country’s covered bond collateral – but could come at the expense of holders of the old bonds, who will find their deals backed by a dwindling pool of poor quality loans, unless they exchange into new deals.
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Europe’s banks are about to get a reality check. Or so say advocates of the European Central Bank’s comprehensive assessment, the results of which come out on Sunday and mark a major event in post crisis banking regulation.
