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Artificial intelligence is changing the investment banking game. But banks are divided on whether to cut costs or try and win more deals
Ex-Crédit Agricole banker to be based in Paris
Édouard Sauce had been with the firm for almost a decade
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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. -
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.
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Colin Parkhill has left Lloyds Bank to join Deutsche Bank as its head of European ABS and CLO syndicate.
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A prospective improvement in the European Central Bank’s deposit tiering facility mitigating the punitive impact of negative rates should be bad for covered bonds, 95% of which are negative-yielding. However, the unprecedented scale of reserves held on deposit with the central bank implies that many key investors will still be looking for anything that pays more than its deposit rate of minus 0.5%.
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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.
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The European Stability Mechanism stands ready to lend eurozone countries up to 2% of their GDP at negative rates — but in spite of the clear cost savings compared to market funding, countries have yet to take up the offer. It is time to rid ESM lending of its stigma.
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