Regulatory Capital - All Articles

  • Spain bank haircuts unlikely say analysts

    Potential for Spanish banks to look to their subordinated paper to absorb losses is not a base case analysts said on Monday, as Standard & Poor’s downgraded 11 institutions and market talk on a system-wide bad bank in the country increased.

    • 29 Apr 2012
  • Markit data 1252

    • 26 Apr 2012
  • Abanka plumps for €50m rights issue as Slovene banks start tough capital search

    Slovenia’s third largest bank, Abanka, approved a near one-for-one, €50m, rights issue on Wednesday, raising capital to meet a regulatory shortfall in the worst-hit banking market in central and eastern Europe.

    • 26 Apr 2012
  • Strong sterling, dollar bid for UK insurance

    UK insurers Aviva and Direct Line raised capital this week, tapping vastly different markets for tier one and tier two paper.

    • 26 Apr 2012
  • Investors forced to reassess LT2 as JPM, BofA skip calls

    The sanctity of the gentlemen’s agreement between tier two issuers and investors on calling bonds was blown out of the water this week as Bank of America and JP Morgan irked bondholders by leaving securities outstanding.

    • 26 Apr 2012
  • Alpha Bank targets capital with buyback

    In a move to generate much needed common equity, Alpha Bank is offering to buy back tier one and tier two bonds at deep discounts to par. The liability management exercise comes after the bank announced it had taken an 863bp hit to its capital ratio as a result of the Greek debt exchange.

    • 26 Apr 2012
  • Aviva tier one size set at $650m

    Aviva is set to print a $650m tier one transaction to yield 8.25% on Thursday afternoon, after drawing in more than $6bn of orders.

    • 25 Apr 2012
  • Buyers’ strike on JP Morgan after tier two call skip

    Sterling investors declared a buyers’ strike on JP Morgan as it joined Bank of America in not calling lower tier two notes this week — controversial moves that saw the two institutions become the first large global banks to skip calls on European notes since Deutsche provoked the ire of investors in 2008.

    • 25 Apr 2012
  • No surprise as Aviva flies

    Rival bankers say they are unsurprised to see Aviva’s dollar denominated tier one deal progressing well, saying that the UK insurer picked the right day to launch the deal.

    • 24 Apr 2012
  • BEA returns to Singapore for S$200m more

    Bank of East Asia returned to Singapore’s local bond market to raise another S$200m ($160m), just a month after the Hong Kong lender debuted in the city-state's debt market with a tightly-priced lower tier two bond.

    • 23 Apr 2012
  • Alpha Bank targets capital with buyback

    Alpha Bank is offering to buy back tier ones and tier twos at deep discounts to par to generate much-needed common equity, after Greece’s debt exchange slashed 863bp off its capital.

    • 22 Apr 2012
  • AIG announces Swissie buyback as it retreats from non-core

    American International Group announced a Sfr350m ($384.74m) maximum buyback on Monday, targeting all of its outstanding Swiss franc bonds. The exercise is part of the group's deleveraging plans.

    • 22 Apr 2012
  • Success for Direct Line despite pricing shift

    Direct Line Group’s print of a £500m tier two bond was a success, said bankers away from the deal, despite price talk being revised upwards during Friday’s execution.

    • 22 Apr 2012
  • Orders reach £750m for Direct Line 30 NC 10

    Lead managers have taken £750m of orders for a 30 non-call 10 year issue from UK insurer Direct Line, with guidance at 9.375% to 9.5%.

    • 19 Apr 2012
  • Crédit Logement raises buyback cap to €180m

    As banks turned to tender offers on asset backed securities, Crédit Logement wrapped up a capital buyback — an increasingly rare exercise — this week, increasing the cap on the deal on the back of strong demand.

    • 19 Apr 2012
  • Markit Data 1251

    • 19 Apr 2012
  • Spain defends bank sector, says capital rules being met

    The Bank of Spain went on the offensive this week to reassure international investors on the state of the country’s financial sector, saying two thirds of lenders had already met tough new capital and provisioning rules.

    • 19 Apr 2012
  • Spain hits back at critics

    The Bank of Spain hit back at critics of the country’s lenders on Tuesday, saying the financial institutions are firmly on track to increase capital and provisioning against troubled real estate lending.

    • 17 Apr 2012
  • Europeans short €120bn of capital to normalise funding costs

    As markets continue to worry about debt sustainability in Spain, Barclays analysts on Monday said that a stronger capital base would reassure investors on the probability of bank default. In total, they said Europe’s banks need some €120bn of new capital to bring funding costs down to economically sustainable levels.

    • 15 Apr 2012
  • Bank liability management goes quiet, but ABS, new tier ones offer some hope

    ABS and new style tier one securities could be potential fodder for future bank buybacks and exchanges, but specialists said the pipeline was thin after Banca Popolare dell’Emilia Romagna closed its tier two cash tender offer this week.

    • 12 Apr 2012
  • EBA calls for limits on regulation flexibility

    European Banking Authority head Andrea Enria pushed back against moves to allow national regulators greater discretion in bank regulation this week, warning that they would lead to cracks in the single market.

    • 12 Apr 2012
  • BoS seeks clean-up powers

    As bond markets entered a renewed panic this week over Spain and its financial institutions, Bank of Spain governor Miguel Fernández Ordóñez called on Tuesday for increased powers to clean up the country’s banks, warning that more capital could be needed if the country’s economy worsened.

    • 12 Apr 2012
  • Markit Data 1250

    • 12 Apr 2012
  • Bank LM goes quiet, but ABS, new tier ones offer hope

    ABS and new style tier one securities could be potential fodder for future bank buybacks and exchanges, but specialists say the pipeline is thin after Banca Popolare dell’Emilia Romagna closed its tier two cash tender offer this week.

    • 10 Apr 2012
  • Markit Data 1249

    • 04 Apr 2012
  • Buybacks slow but banks keep eyeing chances

    Buybacks and tender offers are still on the agenda for borrowers despite the slowing pace of bank liability management exercises, with French home lender Crédit Logement launching a buyback this week.

    • 04 Apr 2012
  • Late participants trickle into CS tender

    Credit Suisse closed its cash tender offer on Tuesday, with just a dribble of further interest coming in after the early participation deadline — which had seen an overwhelming response.

    • 03 Apr 2012
  • Japanese banks ‘still hungry to lend’

    Japan’s syndicated loan market has enjoyed a roaring quarter, even as the rest of Asia has suffered. The market is far from open to all comers, but well-regarded borrowers could increasingly turn to Japan to meet their funding plans this year.

    • 03 Apr 2012
  • Crédit Logement lines up tier one for buyback

    French home lender Crédit Logement is to buy back up to a third of a tier one perpetual instrument which it chose not to call in December 2009.

    • 01 Apr 2012