Banking

Bloomberg New global banking rules are set to be “heavily watered down” to a level banks European can manage without major capital raising, according to HSBC Holdings Plc analysts. The revamp of the capital framework under discussion at the Basel Committee on Banking Supervision will probably boost capital requirements by less than 10 percent when implemented in Europe, allowing banks ...

  Bloomberg Two of the financial industry’s biggest names — Goldman Sachs Group Inc. and JPMorgan Chase & Co. — are in the race for Wall Street supremacy in the $3 trillion global market for exchange-traded funds. Goldman Sachs won the first leg by pulling in a couple billion dollars in ETF assets in a year. But the competition is ...

  Bloomberg China’s shadow banking could lead to losses of $375 billion, according to CLSA Ltd. estimates of likely levels of bad debt. The brokerage estimated the potential bad debt ratio for “bank-related shadow financing” at 16.4 percent, or 4.2 trillion yuan, in a report released to the media in Hong Kong on Tuesday. Assuming a 40 percent recovery rate ...

  Bloomberg HSBC Holdings’ South-east Asia advisory head Andrew Lim is leaving the UK bank just a few months after taking charge of dealmaking in the region, according to a person with knowledge of the matter. The Singapore-based managing director had taken over the South-east Asia role after predecessor Alvin Lim left HSBC for CVC Capital Partners earlier this year, ...

  Bloomberg Bank of France Governor Francois Villeroy de Galhau warned the nation’s presidential candidates that they need to meet deficit-cutting commitments or risk losing credibility with other European Union governments. “France has promised to go below 3 percent in 2017 and all our European partners are waiting or us. It’s the cornerstone of our credibility in Europe,” Villeroy de ...

  Bloomberg Trade is likely to remain weak in the coming years, according to a report by the European Central Bank. While global trade grew on average roughly twice as fast as global output prior to the financial crisis, the ratio of imports to world GDP has largely stagnated over the last five years and will probably remain at current ...

  Bloomberg Deutsche Bank AG, which is trying to bolster its capital, is working to securitize billions of dollars of corporate loans to offload risk, according to a person with knowledge of the matter. The bank is structuring the transaction as a synthetic collateralized loan obligation, which means the firm would keep servicing loans while transferring risk to investors, said ...

  Bloomberg Many banks around the world are gearing up for new business with Iran after years of punishing sanctions were lifted in January. Not so the state-owned UCO Bank Ltd., which is forecasting lower profit after losing its privileged position as the only Indian bank involved in financing the country’s oil imports from the Middle Eastern nation. After sanctions ...

  Bloomberg The appetite of China’s wealthy to diversify from a weakening yuan is helping European finance companies boost capital to prepare for the next financial crisis. Global fund managers are urging caution. Since Aug. 1, seven issuers opened order books for their Basel III bond sales in Asian hours, raising $11.9 billion selling instruments that count as capital under ...

  Dubai / Reuters Qatar’s central bank is offering 3 billion riyals ($824 million) of government bonds in its second domestic bond sale this year, according to a circular seen by Reuters. The central bank only issued its first domestic bonds this year in August when it sold 4.6 billion riyals of conventional and Islamic government bonds. Bids for the ...