Italy draws closer to SME covered bonds
The Italian government is poised to amend the countryâs covered bond law to allow issuers to use SME collateral for a new type of dual recourse bank bond, or Obbligazioni Bancarie Collateralizzate,...
View ArticleSpanish funding boss to run BBVA LatAm ALM
BBVA has hired a former deputy director from the Spanish Treasury to look after funding and balance sheet management for its South American subsidiaries.
View ArticleCS focuses on equity bright spot after torrid Q4 for IB
Legal provisions and a weak performance in the investment bank marred Credit Suisse's fourth quarter results on Thursday. While equity performance was strong, CS suffered from a torrid quarter in fixed...
View ArticleMarketAxess unveils bid-offer spread index for Europe
MarketAxess, the US electronic bond trading platform, has launched a version of its Bid-Ask Spread Index for Europe.
View ArticleLess is more for UBS as smaller IB shows worth
UBSâs move towards a smaller investment bank and away from riskier activities like debt trading appeared further vindicated this week, as large gains in client services helped the slimmer division to...
View ArticleSpain leads peripheral covered revival, says Moodyâs
Peripheral European covered bond programmes are improving in credit quality, with Spain leading the way, according to Moodyâs. In particular, Cédulas Territoriales, Spanish covered bonds backed by...
View ArticleStress test could splinter loss absorbing capital market
The European Banking Authorityâs decision to set the hurdle for its upcoming stress tests at 5.5% common equity tier one could inspire an even more diverse range of structural idiosyncrasies in...
View ArticleItaú results lift Brazil FIG to dispel growth worries
LatAm DCM bankers said that Itaúâs record profit in the fourth quarter of 2013 showed that Brazilâs lenders remained very creditworthy institutions, despite concerns about economic growth and...
View ArticleMarketAxess unveils bid-offer spread index
MarketAxess, the US electronic bond trading platform, has launched a version of its Bid-Ask Spread Index for Europe.
View ArticleDanish banks still face refi risk, says S&P
Denmarkâs efforts to improve its covered bond law and reduce refinancing risk for its banks are steps in the right direction, Standard & Poorâs said on Wednesday. However, refinancing risk will...
View ArticleCovered downgrades on the wane, says S&P
Rating downgrades on covered bonds are slowing, and the share of negative covered bond rating outlooks is at its lowest for three years, Standard & Poorâs said this week. It also gave a positive...
View ArticleCredit Suisseâs torrid IB results dull equity effect
Legal provisions and a weak performance in the investment bank marred Credit Suisse's fourth quarter results on Thursday. While equity performance was strong, CS suffered from a torrid quarter in fixed...
View ArticleLamprecht to become CEO of RenCap in South Africa
Renaissance Capital has appointed Robert Lamprecht as chief executive officer of Renaissance Capital in South Africa.
View ArticleJP Morgan hires Urbanski for EM DCM
JP Morgan has hired Miroslaw Urbanski from Goldman Sachs for its emerging market DCM team. Urbanski left Goldman Sachs in October. He worked for the bankâs central and eastern European business.
View ArticleCrédit Agricole group feels benefits of cost cuts
Crédit Agricoleâs fourth quarter results showed that the bank was feeling the positive effects of its cost reduction plan and business disposals that it conducted in 2013. This cost cuts affected the...
View ArticleEuro PP Charter pushes best practice, wins on sounding
French financial specialists have published their Charter for the Euro Private Placement market, intending to foster the marketâs development by informing issuers, investors and dealers about best...
View ArticleEC seeks covered bond harmony
The European Commission wants to harmonise the covered bond market and will assess its preferential regulatory treatment, according to a draft document. Harmonisation of national laws will be almost...
View ArticleEuropean MMFs consolidate after investors jump ship
Investors are pulling out of European money market funds leading the funds to consolidate, according to commercial paper dealers.
View ArticleBrazil bond slowdown hits BTG Pactual IB numbers
BTG Pactualâs ambition to be a serious bond bookrunner on Latin American deals outside of Brazil is looking a sage decision as a slowdown in Brazilian bond volumes triggered a hefty slump in the...
View ArticleDCM dips, ECM gains at JP Morgan
A 65% increase in equity underwriting fees was not enough to prevent JP Morgan recording a decline in capital markets and advisory revenue for the fourth quarter of last year.
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