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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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Cicero, the Oslo-based climate research institute, is to end its exclusive relationship with SEB in the green bond market. Talks are under way that would enable other banks — probably starting with one or a few — to start using Cicero’s services as an adviser. SEB hopes this will involve creating a wider certification platform for green bonds.
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Commerzbank racked up pre-tax profits of €324m in the first quarter, up from a loss of €29m in the same quarter the year before. The bank made a profit despite dismal trading conditions for the fixed income and currencies business.
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Finma, the Swiss regulator, has set out new capital standards for UBS and Credit Suisse, covering the “too big to fail” capital buffer. As a result, UBS will need capital totalling 19.2% of risk weighted assets, while Credit Suisse will need 16.7% by 2019.
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Commerzbank racked up pre-tax profits of €324m in the first quarter, up from a loss of €29m in the same quarter the year before. The bank made a profit despite dismal trading conditions for the fixed income and currencies business.
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As Barclays results days go, today’s has not been too painful. The shares were down 4% by lunchtime, but that only took them back to their level a week ago. After the annual results in February, the shares fell 6.5% on the first morning. -
UBS released first quarter results on Tuesday, continuing a run of weak opening quarter results from financials with a 41% decline in investment banking profits. The bank also announced plans for a shakeup of its legal structure which will likely lower its capital requirements with the Swiss banking regulator.
