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Latest News
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Investors embrace new AT1s as extension risk evaporates
Investors have been more than happy to buy into new additional tier ones (AT1s) this year, with a rise in spreads having minimised the risk that deals could be extended beyond their first call dates.
07 Aug 2020 -
Bank capital: more than meets the eye
The coronavirus crisis is a further reminder that fundamentals are not the only thing that matters when investing in bank capital.
06 Aug 2020 -
European banks turn to sub debt in Yankee summer spree
Subordinated debt transactions in dollars from a trio of European banks left no doubts about the strength of the Yankee market this week. Bookrunners are encouraging issuers to execute trades in the asset class quickly, as they are unlikely to encounter better conditions before the end of this year, writes David Freitas.
06 Aug 2020 -
Dutch insurers resume dividend payments after strong earnings
Solid financial results are encouraging Dutch insurance companies to resume dividend payments and share buyback programmes after getting the green light form the national regulator.
06 Aug 2020 -
BoE floats ‘temporary changes’ to capital buffers
The Bank of England has said it may be necessary to make ‘temporary changes’ to capital buffers in the UK, owing to concerns that the existing framework could discourage banks from lending during the coronavirus pandemic.
06 Aug 2020 -
Barclays gives investors chance to grab dollar AT1 paper
Barclays has following Credit Suisse in marketing additional tier one paper in dollars this week, bringing a deal on Wednesday that could be used to refinance an existing euro bond.
05 Aug 2020 -
Credit Suisse lifts lid on August supply with dollar AT1
Credit Suisse opened books on a new additional tier one (AT1) in the dollar market on Tuesday, as bankers predicted that other European issuers could bring follow-on supply in the currency.
04 Aug 2020 -
BoE proposes closer look at lev ratio framework
The Bank of England will open a new consultation on the way the leverage ratio works in the UK after it has finished reviewing the framework through its committees.
03 Aug 2020 -
Loan loss provisions fly past expectations for UK banks
UK lenders used the second quarter of 2020 to ramp up their provisions against loan losses, greatly exceeding the market’s already high expectations for new reserves
31 Jul 2020 -
The EU is gaining credibility as a banking jurisdiction
The Single Supervisory Mechanism has been making all the right moves during the coronavirus crisis.
30 Jul 2020 -
Co-op faces ‘material uncertainty’ over MREL
The Co-operative Bank has said that its future could be in ‘significant doubt’ if it fails to make headway on plans to raise £550m ($719.46m) for its minimum requirements for own funds and eligible liabilities (MREL) by 2022. The UK lender is hoping to get going in the second half of this year.
30 Jul 2020 -
Second wave concerns cast doubt over H2 window for banks
Banks will have a very small window for issuing debt in the rest of 2020, with fears over rising coronavirus infections and US politics expected to bring volatility back into the market, deal arrangers have warned.
30 Jul 2020 -
Bank capital ratios rise as EU reg relief kicks in
European Banks are seeing a rebound in their common equity tier one capital ratios in the second quarter, as they draw on new measures of regulatory relief to guard themselves against a tougher operating environment.
29 Jul 2020 -
BRRD 2 could crush MREL volumes in the Nordics
Subordinated bond issuance could decline dramatically among Nordic banks following implementation the EU’s new bank recovery and resolution directive (BRRD 2), Fitch said this week.
29 Jul 2020 -
AT1s are becoming a thorny issue for regulators
When the European Central Bank (ECB) is suggesting the additional tier-one market could cost the euro area up to 0.25% of GDP growth in the next year and a half, it is probably time to start thinking about reforming the asset class.
28 Jul 2020
