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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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The European Banking Authority’s preparations for Basel III show big banks still struggling to meet their liquidity requirements, though they are doing much better on capital. At the end of June, the last monitoring date, only 24 of the 41 big banks the EBA examined had met their liquidity requirements, while one, unnamed, bank had a liquidity coverage ratio of less than 60%, when it needs 100%.
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The Loan Market Association is preparing standard documentation to be used in inter-creditor agreements which include subordinated bonds, GlobalCapital has learned.
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The fourth quarter of 2013 saw UK financials finally start to access the Funding for Lending (FLS) scheme in meaningful size, in the last quarter before the scheme shuts out household credit and mortgages to focus on SME and business lending.
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The Bank of England’s Funding for Lending Scheme (FLS) has finally caught on. The last quarter saw almost as much borrowing as the entire year previously, suggesting that the banks were right all along — the reason they weren’t lending was because nobody wanted to borrow.
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Covered bond national transparency templates do not comply with standards in the EU’s Capital Requirements Regulation, according to Barclays covered bond research, despite improvements in disclosure. If covered bonds do not meet this standard, bank investors cannot apply preferential risk weights, boosting the cost of holding covered bonds.
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The large international European banks were still €36.5bn short of their target capital levels under the Basel III framework, according to the European Banking Authority’s latest Basel monitoring exercise, which looks at the period to June 2013.