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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
Feuds over Monte dei Paschi and Generali will run and run
Innovation and ambition have been hallmarks of mergers and acquisitions activity this year, but there are some signs of weakness in private equity
Bank’s relationship with SpringCash is ‘commercial’
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The currency crisis in Turkey has prompted analysts to hone in on the balance sheets of European banks, as they look for the first signs of an increase in income volatility following the introduction of the new IFRS 9 accounting standard. -
Instead of acting as the saviour of noteholders, Clifden was simply to trying to profit from the hurriedly arranged pre-pack administration of Fairhold, a pre-crisis CMBS now in distress, according to a judge in the UK High Court on Friday. It was an ‘unprincipled asset grab’, the judge told the court on the concluding day of the hearing.
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China’s foreign exchange reserves grow in July, renminbi derivatives in Singapore hit a new high as trade war escalates, official data shows a pick-up in exports from China to Belt and Road countries.
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UniCredit’s senior management team had to fend off a barrage of questions about the bank’s exposure to Turkish bank Yapi Kredi this week, as yields spiked on Turkish local currency debt and the lira slid further against the dollar. UniCredit’s equity stake is accounted at €2.5bn, but worth less than €1.2bn in today’s market.
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The European Securities and Markets Authority recently fined a clutch of Nordic banks for breaking credit rating regulations. The decision could have implications for the Schuldschein market — where arranging banks issue similar ratings to investors.
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UK Prime Minister Theresa May may have rebuked her International trade secretary Liam Fox for his suggestion the chances of no-deal Brexit were now 60-40, but bookmakers Boyle Sports has exactly those odds for those who want to put any money on it. If that is the likely outcome now, what will it mean for the execution of bond deals?
