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New realm for ex-Natixis banker, as HSBC Innovation Bank hires
Patrick Wills has more than 14 years’ experience working at US bank
Manager establishing London-based European BSL CLO platform
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Belgium’s economic ministry mistakenly pitted itself against one of the main goals of Capital Markets Union — and possibly the fundamental EU law of free movement of capital — when it ruled recently that international securitizations may not purchase Belgian consumer credit receivables; a rule that GlobalCapital has learned is now under review. -
Belgium’s economic ministry pit itself against one of the main goals of Capital Markets Union — and possibly the fundamental EU law of free movement of capital — when it ruled recently that international securitizations may not purchase Belgian consumer credit receivables.
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Lloyds has decided to shrink its credit sales and trading business, with at least two salespeople and two traders at risk.
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Europe's banks are failing to use a capital subsidy for small and medium enterprise lending which was added into capital rules against the advice of the European Banking Authority.
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The Depository Trust & Clearing Corporation has teamed up with software company Digital Asset Holdings on a blockchain solution for clearing and settling repurchase agreements.
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Index provider Markit has teamed up with commercial mortgage backed securities data and pricing specialist Trepp to launch total return swaps (TRS) on a cash CMBS index. The initiative targets several gaps in the market, by boosting returns for CMBS investors, providing a hedging tool for originators and giving big corporate clients access to a market otherwise denied them by punitive US tax rules.
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Credit Suisse is marketing an insurance-linked security to hedge its operational risk, a class of losses which usually include rogue traders, fraud, and IT failures, at the same time as it announced an unauthorised build-up of positions in its illiquid and distressed trading businesses.
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Franklin Templeton Investments has launched a fixed income fund that will include a range of derivative strategies, other assets such as securitized products, and the ability to go long or short.
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BNY Mellon has hired a new head of its corporate trust business in Europe, the Middle East and Africa (EMEA), as it aims to develop its interests in the loan market.
