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US bank eyes one of the tightest US preferred resets as BBVA goes for subordinated, senior combo
Market participants gathering in Stavanger will focus on market growth
Europe’s self-proclaimed investment banking champions are playing to their strengths, but remain far behind US peers
Data
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
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In a move that is expected to bolster the market for green covered bonds, the final text of the European Commission’s draft Taxonomy of Sustainable Economic Activities has been revised to accommodate current best practice and include buildings that rank nationally within the top 15% most energy-efficient. -
Norwegian insurer Gjensidige Forsikring is looking to refinance its outstanding restricted tier one (RT1) note – the first ever sold in the format – with a pair of new subordinated deals.
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Swedish banks will have to maintain a countercyclical capital buffer worth 2% of their risk-weighted assets during normal times, according to new guidance from the nation’s Financial Supervisory Authority this week.
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A leaked letter from the European Parliament, seen by GlobalCapital, shows the Parliament has joined in the debate about the Sustainable Finance Disclosure Regulation, which has been watered down to make life easier for institutional investors. The Parliament is calling for the rules to be strengthened, to help savers know which investments are green and ensure compliance does not become just a “tick box exercise”.
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In a move expected to add pressure to the already suffering long dated Treasury market, the Federal Reserve confirmed on Friday that US banks will once more have to include Treasury holdings in their leverage ratios from next month.
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Danish firm Nykredit Realkredit tapped the MTN market for non-preferred paper this week ahead of a deadline for regulatory debt buffers next year. Elsewhere, Alandsbanken issued its first additional tier one (AT1) note.
Polls and awards
Don't miss your chance to choose this year's Bond Award winners
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
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