The intrinsic (intractable?) bank bid for sovereign debt
There are a few ways to greet the news that eurozone banks are more exposed to their sovereigns than ever. One’s to note that this just means more human shields to deal with (somehow) in a...
View ArticleEurope’s not so secret liquidity. Not any more.
FT Alphaville began writing in detail about emergency liquidity assistance in the eurozone — that is, national central banks lending to stricken, but supposedly solvent banks on highly secretive terms,...
View ArticleThe year of assessing comprehensively
Click for the ECB’s official introduction to its year-long “supervisory risk assessment… asset quality review and a stress test” for 124 European banks (who are all listed)… The capital ratios to be...
View ArticleSpooOOOooky European bank capital relief
That’s because it’s ghostly and hard to spot. (And it is All Hallows’ Eve.) First it was the buried announcement that Irish banks with government share ownership are about to get Spanish-style...
View ArticleIn the loop
A useful chart from Citi on Thursday morning (which you may click to enlarge), on the recent rise in bank holdings of sovereign debt.Continue reading: In the loop
View ArticleStress-testing European banks, 2014: now with “additional national...
…. are being answered. The European Banking Authority has graced us with the “key features of the 2014 EU-wide Stress Test”. You can find them here and the FAQ here. Continue reading: Stress-testing...
View ArticleA CoCo Cyprus bank trade
Easy to forget now that the crisis-spotters have moved on to EM from the eurozone… but we’re almost coming to the first anniversary of the Cypriot bank depositor bail-in. Of course, that time has sure...
View ArticleBES — the resolution
Click for the Bank of Portugal’s announcement of the resolution of Banco Espirito Santo:Continue reading: BES — the resolution
View ArticleNegative rates haven’t hit banks all that hard?
A qualified defense of negative rates effects on banks’ net interest margins, you say? Go on then. From Andrew Garthwaite and team at Credit Suisse…Continue reading: Negative rates haven’t hit banks...
View ArticleDon’t count on European credit growth
We’re a little bit late to Friday’s note from Citi’s Hans Lorenzen and Aritra Banerjee, but it’s a pretty good assessment of the tensions in European credit markets at the moment: Without implying...
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