UK

The Bank of England is proposing to allow banks to take back the bonuses they pay to buy financiers out of their contracts with competitor firms.

TriOptima, the over-the-counter post-trade services provider, has teamed up with AcadiaSoft to launch a margin processing service, ahead of new rules on uncleared derivatives.

Banks on Euro Garages' £745m acquisition debt package have set price talk, with bank meetings taking place on Tuesday.

The Basel Committee on Banking Supervision has agreed not to increase the leverage ratio requirement — a big win for banks already struggling to stay abreast of new capital rules.

Pioneer Investments has set up a new fund to target the returns available in subordinated FIG debt, in response to the paltry yields on offer in the investment grade credit sector.

Vedanta Resources has launched a tender offer for a portion of its $1.25bn 5.5% convertible bonds due this year to be executed via a modified Dutch auction method, according to its dealer banks.

The International Swaps and Derivatives Association will tighten up the rules governing members of its Credit Derivatives Determinations Committee as it looks to strengthen the process for deciding whether credit events have occurred.

Markit, the financial information services firm, has agreed to buy Loan/SERV technology assets from the Depository Trust & Clearing Corporation (DTCC) in a bid to expand its loan management services.

The UK Debt Management Office (DMO) has appointed a former member of the Bank of England’s Monetary Policy Committee to carry out a review into finding a new provider for end-of-day reference prices for Gilts and bills.

Standard Chartered Bank has made two promotions — crowning a new head of capital markets for Americas and Europe and a new head of European syndicate.

Lloyds and Société Générale both returned to the covered bond market to issue their first euro-denominated benchmarks of the year on Monday. The UK bank issued in much larger size with an order book that grew far more quickly than the book for SG’s deal.

Santander UK was set to print a solid sterling senior holdco debut on Friday, but different views of the appropriate spread between opco and holdco debt meant rival bankers couldn't agree on fair value for the deal.