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  • Bank supply to be muted ahead of US election

    Bank supply to be muted ahead of US election

    Despite a recent deal surge, investors and issuers are set to pull away from the primary market with just one full week left to go before the US presidential election.

  • UK moves early to dispel fears about bank capital buffers

    UK moves early to dispel fears about bank capital buffers

    Markets rejoiced this week after the Bank of England proposed policy changes that will make it harder for UK lenders to run into automatic restrictions on their additional tier one coupons and equity dividends. The move was seen as a way of addressing concern about ‘buffer usability’, which has come to the fore during the Covid-19 pandemic.

  • Rabo finds a way to reward its Certificate holders

    Rabo finds a way to reward its Certificate holders

    Rabobank intends to make an exceptional distribution on its equity-like Certificates and will avoid breaching the European Central Bank’s dividend ban by paying its investors in more Certificates rather than in cash.

  • BoE to ease MDA rules for UK banks

    BoE to ease MDA rules for UK banks

    The Bank of England said this week that it would loosen some of the rules around the maximum distributable amount for UK banks after Brexit, making it harder for them to trigger restrictions on their additional tier one (AT1) coupons and equity dividends.

  • EBA looks to halt 'infection risk' on legacy capital

    EBA looks to halt 'infection risk' on legacy capital

    Much of European rule making in wider society has been about preventing infection spreading to the elderly of late. But the European Banking Authority has instead weighed in on the "infection risk" that stems from grandfathered securities.

  • Peak Re bags subordinated bond

    Peak Re bags subordinated bond

    Hong Kong-based Peak Reinsurance Co rolled out a subordinated perpetual bond on Tuesday, netting $250m from the deal.

  • ECB laments lack of CCy cap before Covid

    ECB laments lack of CCy cap before Covid

    The European Central Bank said this week that it thought a stronger role for countercyclical capital buffers would be key in making sure that banks use their available resources to boost lending in times of crisis.

  • UnipolSai gives Italy its first RT1 bond

    UnipolSai gives Italy its first RT1 bond

    UnipolSai Assicurazioni was nearly three times subscribed for a restricted tier one (RT1) this week — the first of its kind in Italy. An attractive coupon helped to offset any concerns about Italian sovereign risk or a lack of liquidity in the RT1 market.

  • Quintet debuts with small AT1

    Quintet debuts with small AT1

    Luxembourg's Quintet Private Bank tapped the market for €125m of additional tier one (AT1) paper on Friday, marking its debut in the asset class.

  • UnipolSai to call T2s after debut RT1 issuance

    UnipolSai to call T2s after debut RT1 issuance

    Italian insurer UnipolSai Assicurazioni will be hoping to launch its first restricted tier one (RT1) bond this week, after which it could retire a pair of its lower quality tier two instruments.

  • UK to ditch MREL MDA after Brexit

    UK to ditch MREL MDA after Brexit

    The UK government has said that banks will still be able to make investor distributions if they fall below their minimum requirements for own funds and eligible liabilities (MREL) after Brexit — in an early of sign of divergence from the EU rulebook.

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