Sure, the eurodrama is a fact. But there is a growing interest about investing in the peripheral Europe. Morgan Stanley has conducted a survey among investment managers and 38% of them expect the CDS of the Spanish sovereign bond to be between 150-200bp over the next 12 months.
LONDON/MADRID | ECB negative interest rates might fail to re-activate credit activity because of a too cautious Germany.
MADRID | By JP Marín Arrese | Rumours openly point to a further rescue package to save the day. It may take months to come but many are taking for granted that a fresh call for help might be launched at the end of the year, once the new German government takes over.
MADRID | By JP Marín Arrese | So long fiscal havens apply close to zero taxation, companies engaged in cross-border business will continue to profit from these favourable arrangements.
MADRID |By José Luis Marco at CapitalMadrid | Germany or the Troika, that for some already begins to be the same thing, may have their doubts about the level of funding of the Spanish banks and the process of consolidating their balance sheets. However, according to objective data, German main private banks capital ratios are far below those of Spanish leading financial groups.
MADRID | By José Antonio Santos at Patrivalor | Does the proposed Basel III ratio need to be changed into a more realistic one? Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig believes all of the Basel capital accords, including proposed Basel III, look backward and then attempt to assign risk weights into the future, therefore don’t work. Regulators should focus on another measure of capital that more accurately reflect the capital position of banks: the tangible leverage ratio.
By Skip Worden | The “speed-journalism” at Bloomberg has been a practice at the expense of the customers who were subscribing to the company’s financial-information terminals. They are needed, but what about trusted?
LONDON | The UK’s financial system suffers a capital deficit of up to £25 billion, according to the regulator, a gap that must be covered in 2013 to reach the minimum 7 percent core tier 1 capital ratio target.
By S. V. at VozPópuli | London has made an agreement with British tax havens such as Anguilla, Bermuda, the British Virgin Islands, Montserrat, Turks and Caicos so they will disclose name, address, date of birth, account number and transactions details of people with accounts in their territories. Then the UK will then send this information to Spain, France, Germany and Italy.
LONDON/MADRID | Up to 80 percent of all issuances–some €30 billion so far this year–were bought by non-resident investors, proof that confidence is on its way of being restored.