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Oficialdegui moves to Madrid for chairman role in raft of changes
Europe must get to grips with ballooning non-bank financial system
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The ease with which banks have been able to deploy retained covered bonds for repo funding with central banks has aggravated liquidity risks and undermined regulations that were designed to shore up liquidity management practices exposed as inadequate during the 2008 financial crisis. -
The Bank of Japan has said that it will pay extra on reserves deposited by banks that become more cost efficient or that merge. A similar policy could well be introduced in Europe too, although perhaps with different aims.
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BNP Paribas has hired Sofia Lonnqvist from Barclays to work in its debt capital markets team covering financial institutions clients.
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UniCredit’s CEO Jean Pierre Mustier delivered an upbeat assessment of the bank’s third quarter results on Thursday, confirming its profit and provisioning guidance for the year, though debt capital markets revenue sagged.
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BP, the UK oil company, has appointed Niamh Staunton, a former Morgan Stanley banker, as its group treasurer, GlobalCapital understands.
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The European Central Bank is offering renewed support to the idea of the EU creating a ‘bad bank’ or an asset management company to manage a flood of non-performing loans engulfing European banks, fuelling expectations that this will be part of the European Commission’s forthcoming NPL strategy. Jon Hay and Owen Sanderson report.
