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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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The CSRC has just announced rules that will allow top tier Chinese companies to issue preference shares. While more clarification is needed, those banks most in need of capital should get ready to launch, as Basel III related supply is likely to far outweigh demand, write Clare Hammond and Rev Hui. -
The Hong Kong Monetary Authority is asking banks to review and improve their procedures for selling high yield bonds after recent onsite inspections identified a number of cases where its guidelines were not being met.
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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.
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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”.
