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Tej Singh leaves firm suddenly
Investor tells GlobalCapital it liked the portfolio’s diversity, data depth and sustainability impact
Bank’s €1bn transaction is most granular so far and found new buyers
Market participants gathering in Stavanger will focus on market growth
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Paris has joined London as the second city in Europe to be given access to the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme. The Rmb80bn ($12.9bn) quota enhances the city’s status as an offshore renminbi hub and opens to door to RMB clearing and settlement in the French capital. -
UBS has appointed Paul Au and Patrick Liu as co-heads of Asia DCM, finally filling a role left empty by the departure of Guy Wylie in June 2012. The appointment takes effect immediately.
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The US Securities and Exchange Commission (SEC) is deadlocked over changes that will let many money market funds keep their stable net asset value, rather than floating their asset value to make it clear that MMFs are investments, not deposits.
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The European Commission outlined on Thursday its plan to meet the long-term financing needs of the European economy, and said it wishes to improve the environment for covered bonds. A separate draft document makes it clear that the viability of an integrated European covered bond market is under consideration.
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Citigroup, HSBC, RBS Citizens and Santander USA have failed stress tests, and face having to resubmit capital plans, after the US Federal Reserve failed them for stress tests.
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Banks are still allocating resources to unprofitable areas of business which are unlikely to get better, according to research from Morgan Stanley and Oliver Wyman.
