Latest regulation news

• SRB lays out MREL changes ahead of banking package

  

  The Single Resolution Board (SRB) set out new policy for complex banks on minimum requirements for own funds and eligible liabilities (MREL) on Wednesday, changing its approach on issues including the subordination requirement and how the type of resolution plan an institution has affects its needs.

  • 17 Jan 2019

• EU member states ready to bury ESA review

  EU finance ministers are poised to agree on January 22 to postpone the review of the European Supervisory Authorities even further, killing any hope of striking a deal before the European Parliament ends its mandate in April 2019.

  • 17 Jan 2019

• Axiom: NPEs down overall, but worst performers are surprising

  

  EU banks have drastically reduced their non-performing exposures over the past year, and the weakest lenders in terms of provisioning shortfalls are not from Europe’s periphery, according to research by Axiom Alternative Investments. However, two banks named as some of the worst performers disagreed with this label.

  • 17 Jan 2019

• National security in crosshairs for UK M&A

  

  UK mergers and acquisitions are set for a tricky time over the next few years, as the government is expected to begin implementing a more stringent national security regime this year.

  • 15 Jan 2019

• Brexit untangling could boost HSBC over its discos

  

  The European Banking Authority is sceptical about HSBC’s decision to re-grant capital treatment to some legacy debt instruments last year, but it is unsure about the leverage it can exert over UK authorities in light of the country’s upcoming departure from the EU.

  • 14 Jan 2019

• Danske finally looks to finish after Browder claims

  

  Danske Bank was set to complete its bond sale on Friday at a slightly higher price, after activist investor Bill Browder forced a delay due to his comments about its money laundering scandal this week. Before the postponement, Danske had drummed up a large amount of support in the dollar market, as UniCredit did earlier in the week.

  • 11 Jan 2019

• UniCredit trade shows how Italy needs the ECB

  

  Italian banks are paying up for funding, both a cause and effect of financial stress in the country. It shows why the European Central Bank is likely to continue with TLTRO (targeted longer-term refinancing operations), and why the Italian government has less leverage over Europe than meets the eye.

  • 10 Jan 2019

• Politicians talk up Carige nationalisation

  

  The Italian government this week earmarked up to €1bn for a precautionary recapitalisation for Banca Carige but the future of the troubled bank remains uncertain.

  • 10 Jan 2019

• Levfin investors band together against borrower domination

  

  Investors in the leveraged finance market established a new trade body this week, giving them the chance to push back against aggressive covenant terms, and offering an alternative forum to the Association for Financial Markets in Europe, increasingly dominated by the sell side following a mass walk-out by the buy side last year.

  • 10 Jan 2019

• Danske deal hangs on Browder testimony

  

  Danske Bank is waiting until activist investor Bill Browder gives a press conference before deciding whether to proceed with the sale of a senior non-preferred bond. News of the conference derailed the deal on Wednesday, after final terms and a $3bn size had already been set.

  • 10 Jan 2019

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