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NGOs cheer as EIB finds carbon compromise
In a marathon board meeting that lasted into the evening on Thursday, EU member states have approved a new Energy Lending Policy for the European Investment Bank, ending a dispute over how fast it can cut out fossil fuel financing.
09:30 PM -
Principal losses loom for risk transfer buyers after accounting wrinkle
European bank supervisors have switched their approach to excess spread in risk transfer securitizations, paving the way for the stream of full stack capital relief deals issued this year by banks including BNP Paribas and Santander. But questions remain about how the deals handle IFRS 9 accounting, with Santander’s approach potentially boosting principal losses for investors. Owen Sanderson reports.
05:15 PM -
Citi banker arrested amid fraught week for Hong Kong
A Citi banker was arrested by Hong Kong police this week, as the protests in the city intensified.
12:00 PM -
Investors coax companies: own up to slavery
A new drive is being launched by investors in London today to persuade companies to root out modern slavery in their supply chains. The quest will be hard in two ways: firms will risk bad publicity if they find slavery; and investors are unlikely to make money out of the work.
12 Nov 2019 -
UBS fined for decade-long overcharging of clients
The Securities and Futures Commission of Hong Kong has fined UBS HK$400m ($51m) for overcharging its clients over a 10-year period — in the latest penalty to hit the Swiss bank in the city.
12 Nov 2019 -
The week in renminbi: MSCI raises A-share weighting, CPI inflation at record high, profitability requirement scrapped for ChiNext board
In this round-up, MSCI is set to give a boost to China A-shares again at the end of the month, CPI inflation accelerated to the fastest pace in seven years and the China Securities Regulatory Commission (CSRC) has decided to allow unprofitable companies to list on the ChiNext board.
11 Nov 2019 -
Banks are talking on climate, but not walking
The greening of the banking sector is only skin deep, research published on Monday indicates. Analysis of 58 of the world’s biggest banks shows they are spending more time thinking about climate change, but few have tried to stop financing it, or even talk to clients about how they could improve.
11 Nov 2019 -
Shell’s reliance on top US banks irks rivals
Royal Dutch Shell’s choice this week of a tight syndicate, heavy with US banks, to lead $4bn and €3bn of bonds has laid bare the sense of vulnerability among banks outside the US bulge bracket, as some expressed resentment at being left out of a lucrative and prestigious mandate.
08 Nov 2019 -
China market round-up: PBoC sells bills in Hong Kong, foreign currency reserve rises, SSE launches English version of Star Market webpage
In this round-up, the People’s Bank of China (PBoC) sold Rmb30bn ($4.3bn) of central bank bills in Hong Kong, China’s foreign reserves grew slightly and the Shanghai Stock Exchange (SSE) took an important step to improving foreign participation in its Star market.
08 Nov 2019 -
UniCredit plans new Italian holdco to make itself ‘MPE-ready’ for MREL
At its results presentation on Thursday, UniCredit's CEO Jean Pierre Mustier scotched rumours that it was planning to set up a new German holding company and revealed instead plans for a holding company in Italy, designed to make its organisational structure more efficient for regulatory capital and resolution purposes.
07 Nov 2019
