Top Stories

The Bank of England may soon tweak its macroprudential policies and introduce a new funding scheme for banks to mitigate the economic impact of the Covid-19 coronavirus epidemic on companies. The measures would help lenders at a time when they could face pressure from lower rates and rising impairments.

Shares in guarantor loans company Amigo Holdings plunged more than 25% at the open on Thursday while its high yield bond, a 7.625% 2024, was marked down more than 30 points, as founder James Benamor quit the board, then published a lengthy blog post describing the company as "committing slow motion suicide". Amigo hit back quickly with a statement rejecting many of Benamor’s comments but prices failed to bounce back.

Thierry Roland has been picked to lead HSBC’s new RWA Optimisation Unit, where the bank will put assets that do not meet its return requirement.

HSBC is moving its securities services business into global markets to create a new unit. Allegra Berman and Richard Godfrey, co-heads of securities services, will gain new responsibilities as part of the change.

The US Federal Reserve’s emergency 50bp cut in interest rates on Tuesday failed to reassure markets. The US and European response to the Covid-19 coronavirus outbreak needs to incorporate targeted fiscal policy as well.

The coronavirus knows no borders — but the response is all about national power. The same will be true in markets.

Two more bankers are leaving Daiwa Capital Markets Europe’s debt capital markets team, as the bank relocates staff to Frankfurt as part of plans to make sure it can continue to serve EU clients after Brexit.

Roland Domann has moved to MUFG to be part of its European sales and distribution team, just months after being hired by Nomura.

Activist investor Edward Bramson has called on Barclays not to renew chief executive Jes Staley’s contract over his links with dead sex offender Jeffrey Epstein. He also questions the bank’s corporate broking relationship with JP Morgan.

A managing director in Barclays' investment grade bond syndicate team in New York is set to leave the bank.

Nomura's head of sovereign, supranational and agency, covered bonds and financials trading has left the bank.

Workers of the world’s capital markets united this week in efforts to keep the funding flowing as the threat of the Covid-19 coronavirus advances. Roadshows, mandate pitches and even quotidian office life faced emergency changes as embattled financiers braced themselves and their businesses for virus disruption.