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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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Bond and equity activity slumped in the first quarter of this year with both posting double digit falls in trade volume. However there are some bright spots with offshore renminbi activity reaching a record and technology stocks in vogue. -
European banks are expected to sell €80bn of non-core loans this year, according to PriceWaterhouseCoopers, which should be another record year. Portfolio trades in 2013 hit around €64bn par value, up from €46bn in 2012 and €36bn in 2011. PwC says loan portfolios of around €30bn par are in process or closing now, with its loan team working on a further €10bn of trades.
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The European Banking Authority’s effort to improve transparency on balance sheet encumbrance has come to nothing. The draft guideline, which will be finalised by June, is practically useless because it doesn’t include emergency central bank liquidity, which is the largest and most important source of encumbrance. But that’s probably just as well, for if this disclosure became public knowledge, it would create just the sort of negative feedback loop that brought down the UK’s Northern Rock.
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Mark Carney this week strengthened the Bank of England’s markets regulation as part of a major restructure he has branded “One Bank”.
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The fraught negotiations over the Single Resolution Mechanism have been completed, ending months of uncertainty over Europe’s backing for its banks.
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Bank of America Merrill Lynch has appointed Laurent Guyot as its new managing director in FIG DCM, shortly after the departures of Julia Hoggett and Daniel Bell, head of financials flow financing and new products respectively.
