LTRO: Why the ECB should make every day Christmas
Recent discussion on whether the European Central Bank should extend its long-term refinancing operations (LTRO) in 2019 has revolved largely around which banks should be able to use it. Last time, LTRO targeted banks contributing to the economy. This time,...
Bank funding market: Pimco’s pricing power
When Italian lender UniCredit sold an entire €3 billion five-year senior non-preferred bond with a 7.83% coupon to US investment management firm Pimco in late November it was a demonstration of far more than the brutal impact that the country’s...
Brazil’s Itaú Unibanco to launch Argentina brokerage
COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER: CHUNT@EUROMONEY.COM By: Published on: Tuesday, December 04, 2018 A lower-profile announcement caught Euromoney’s eye after the bluster of the G20 meetings in Buenos Aires. Itaú Unibanco saddles up for a...
New technologies transform cross-border payments space
By Anna Fedorova A key player in this space is Swift, which rolled out its global payments innovation (gpi) initiative in 2017 with the aim to create a fast and frictionless cross-border experience. So far, the service has already been...
Clydesdale’s Duffy seeks Virgin lands after merger green light
When he meets Euromoney in September, Clydesdale chief executive David Duffy is just back from a health check, and full of warnings about the risks of too much caffeine and sugar. David Duffy,Clydesdale Given his bank’s £1.7 billion merger with...
The chief risk officer: it’s not just about managing risk costs anymore
Risk: for such a sexy word – and one that serves as the very engine of financial markets – the role of chief risk officer (CRO), on the face of it, doesn’t sound exciting. However, the position of CRO has...
Banking: No trust in Malta
Protesters hold up posters showing Pilatus Bank chairman Ali Sadr Hashemi Nejad while calling for the resignation of Malta’s police commissioner in March in light of his failure to investigate the bank following the assassination of anti-corruption journalist Daphne Caruana Galizia...
NPL sales lose momentum in CEE as focus turns south
Bojan Markovic, the EBRD’s deputy director for economics, policy and governance Tackling bad debts remains a priority in central Europe and the Balkans, despite substantial reductions in stocks over the last four years, according to EBRD experts. In the first...
The growth of green credit
First it was green bonds and now we are seeing the emergence green credit. In February, the French food products company, Danone, announced it had introduced environmental, social and governance (ESG) criteria to its syndicated €2 billion credit facility led...
Give the Reserve Bank the keys after PNB fraud
“From the RBI’s standpoint, legislative changes… that make our banking regulatory powers fully ownership neutral – not piecemeal, but fully – is a minimum requirement,” he said. (That wasn’t all he said. He also used the magnificent phrase “a tonne...
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