Nykredit Realkredit kicked off autumn refinancing auctions in Denmark today (Thursday), with “extraordinarily high” interest coming in for its offering of one year ARM bonds, according to an official at the issuer, although an analyst said the outcome was not surprising.

Norway’s SpareBank 1 alliance has strengthened liquidity and capital support of its commercial mortgage covered bond issuer, SpareBank 1 Næringskreditt, in a move recognised by Moody’s and which the issuer hopes could yield pricing benefits.

Nykredit will launch its August refinancing auctions next Thursday, with one year ARM bonds dominating after a smaller than expected take-up of longer interest reset periods. Meanwhile, Realkredit Danmark is launching a Cita product aimed at addressing concerns about refinancing risk.

Danish banks’ funding profiles are a weakness and the Swedish banking system shows a structural mismatch of assets and liabilities, Standard & Poor’s said in July in the context of a range of rating actions on banks and their debt in these jurisdictions.

Canadian supply took centre-stage in the FIG flow market in the second half of July, delaying a summer slowdown that is showing signs of settling in after a Eu1bn five year covered bond for Canadian Imperial Bank of Commerce yesterday (Thursday), although the market is said to be in good shape.

Nordea has recruited Swedish central banker Mattias Persson as head of group funding to replace Fanny Borgström, the bank announced in mid-July.

Danske Bank is considering its options for dealing with a change in methodology by Standard & Poor’s that means certain features of Tier 2 subordinated debt issued in September no longer count toward the bank’s RAC ratio, it said on 17 July.

Danske Bank’s second quarter results announced today (Thursday) beat expectations but the bank lowered its guidance for the full year. The Danish lender reported after a slew of results from other major Nordic banks in July.