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Creating unified trading data feeds is proving much harder — and more controversial — than foreseen
Little green men could be closer than they appear
Scrutiny of regulatory proposals by those without securitization expertise is a feature, not a bug
Tom Hall goes through a sterling week of deals for European ABS, while Thomas Hopkins dissects the dangers that a rise in LMEs would pose for European CLOs
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The failure by Metro Bank, the UK challenger bank, to issue a £250m senior non-preferred bond this week throws the spotlight on the Bank of England, which could soon have to decide how to deal with Metro if it fails to meet a year-end deadline for raising bail-inable debt. Tyler Davies reports.
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Steven Maijoor, chair of the European Securities and Markets Authority, has pointed to challenges on the path to reform of euro risk free rates, and highlighted fallbacks as his organisation’s most important next hurdle.
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The ABS market is divided into camps over the necessity for a third level of NPL compliance, with participants coming out for and against more disclosure at a panel in True Sale International’s 2019 Conference in Berlin.
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Chinese banks are increasingly selling perpetual bonds onshore, as attractive yields propel them to raise funds in the domestic market. But this avenue of recapitalisation is not open to all, with smaller mainland banks hobbled by lack of investor interest. Rebecca Feng reports.
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The European Banking Authority has published its long-awaited discussion paper on the possibility of ‘Simple, Transparent and Standardised’ synthetic securitizations — opening the way to better regulatory treatment for risk transfer deals. That would endorse a market that frequently faces public criticism.
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National governments of the European Union have reached agreement on the law that will implement the Taxonomy of Sustainable Economic Activities, even though Germany, Austria, Luxembourg and Greece are unhappy that nuclear power has not been specifically excluded. There could be fights over that issue when the Parliament and Commission negotiate with the Council in a 'trilogue'.