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Crédit Agricole reorganises loans business amid busy hires and promotions in industry
‘New kid on the block’ disrupts established order with lead role on Schroders takeover
Former MDB sustainable finance expert joins as HSBC rebuilds sustainability leadership
EU’s new real time price feed could be nice to have, but market participants are not sure it’s essential
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Moody’s changed its outlook on the Swiss banking system to negative on Thursday. The change was driven mainly by the Swiss regulator’s move towards implementing a new bank resolution framework allowing the bail-in of creditors of failing banks.
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BNP Paribas was in the spotlight on Thursday as it posted the largest loss in its history, but underneath the red numbers — caused by a huge fine for violating US sanctions — was a very strong performance. -
JP Morgan has slashed its European financial institutions debt capital markets operation, taking three senior members off the team. All three are understood to still be employed by the bank.
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Sustained cost-cutting allowed UBS to report almost a 20% increase in profits on Tuesday. By cutting expenses the bank was able to shrug off declining profits in its investment bank and wealth management business.
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Implementation of the liquidity coverage ratio (LCR) in Europe is set to be delayed by 10 months according to a leak last week of a draft European Commission document. The treatment of ABS in the LCR, seen by the industry as unfavourable compared to covered bonds, was not changed in the leaked draft, but the delay could provide time to hammer out the details of more equitable regulatory treatment, said bankers on Monday.
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Royal Bank of Scotland caught the market off guard on Friday by releasing early preliminary first half results that showed progress in its turnaround programme, but its recently gutted investment bank saw revenues fall and chief executive Ross McEwan warned of “significant” drags on capital generation to come.
