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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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Santander, the eurozone’s largest bank by market capitalisation, saw year-on-year profits grow by 8.1% to €1.3bn in the first quarter of 2014, the highest in the last eight quarters, in what the bank said illustrated its “return to more normal levels” of profitability. -
The Bank of England has published its own stress test which goes beyond the European Banking Authority’s new test, and makes UK banks model a 35% house price decline and a 30% drop in commercial real estate prices.
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The European Banking Authority has released details of how it will stress test Europe’s banks. It will look at a sell-off in sovereign bonds, and “re-differentiation of EU sovereign bond yields” — but this will mean only a 380bp widening in Greece, down to a 137bp widening in Germany.
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Deutsche Bank shrugged off market about its profits on Tuesday, reporting a 34% drop in net income that pleasantly surprised most analysts. But investors quickly turned their attentions to the German lender's capital ratios, which are the lowest of its peers — concerns which the bank moved to address on Monday night with plans for an AT1 bond.
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Portuguese regulators could be next in line to allow banks to increase their capital ratios using deferred tax assets, following similar moves in Spain and Italy that have boosted headline Basel III capital ratios at local banks.
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Banking funding rules should have diversity and stability in mind, and steer clear of favouring one funding format over another. But a Basel consultation document on the Net Stable Funding Ratio published this month promotes the exact opposite, and will make bank funding less stable.
