• European DMOs question sovereign green bond trend

  

  Debt management officials from four European countries sounded warnings about the growing sovereign green bond market at the Association for Financial Markets in Europe’s government bonds conference in Brussels this week. The warnings come as the Netherlands gears up for its debut next year. Owen Sanderson reports.

  • 15 Nov 2018

• Carige could pay 15% for part of tier two

  

  Banca Carige’s planned tier two bond, which tides it over until it can raise equity, will present the FIG market with some unusual features. But the unfamiliar intervention from a branch of Italy’s deposit guarantee scheme appears not to have roused the European Commission’s attention with regard to state aid rules.

  • 15 Nov 2018

• SRB spells out Brexit expectations for banks

  

  The Single Resolution Board published a position paper on Brexit on Thursday in which it explained that it would take a "case-by-case" approach with banks that fail to meet the minimum requirement for own funds and eligible liabilities (MREL) as a result of the UK’s departure from the European Union.

  • 15 Nov 2018

• Goldman Special Situations Group issues loan-backed notes

  

  The Special Situations Group at Goldman Sachs has structured private financing vehicles based in Luxembourg, which package up bundles of loans made by the group with an average rating of B/B-. The vehicle will also hold risk retention interests for Goldman-sponsored securitizations.

  • 14 Nov 2018

• Regulators protect bonds from restrictive PRIIPs rule

  

  European regulators and the UK’s Financial Conduct Authority have hit back against what they see as on overly restrictive interpretation of the European PRIIPs rules, intended for structured products. The rules, which came in in January this year, have led some issuers of vanilla bonds to hold back from offering these to retail clients because they were worried about new documents required.

  • 13 Nov 2018

• EC to UK clearing houses: pre-apply for hard Brexit

  

  The European Commission, on Tuesday, told UK clearing houses and securities depositories to pre-apply to the European Securities and Markets Authority (ESMA) for recognition, should hard Brexit take place.

  • 13 Nov 2018

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