Archive for October 2014
Oct 31st, 2014
Danske Bank made pre-tax profits of Dkr4.5bn (Eu605m) in the third quarter, 6% ahead of consensus expectations, and raised its outlook for the full year from Dkr10bn-Dkr13bn to Dkr11.5bn-Dkr13.5bn.
Posted in Denmark
Tags: BRFkredit, Danske Bank, Jyske Bank, Q3, results, Sydbank
Oct 31st, 2014
Members of the SpareBank 1 alliance in Norway are setting up their own covered bond issuers as a back-up to SpareBank 1 Boligkreditt (SpaBol) because of large exposure limit regulation.
Posted in Norway
Tags: covered bonds, Norway, Norwegian, SpareBank 1 Boligkreditt, SpareBank 1 Nord-Norge, SpareBank 1 SR Bank
Oct 31st, 2014
A Eu1bn 10 year Nordea Finland deal on Wednesday that was the first new benchmark eligible for CBPP3 since the programme began met with a “bonkers” response, achieving pricing 5bp inside initial price thoughts and kickstarting the primary market for Eurozone issuers.
Posted in Finland
Tags: CBPP3, covered bond, Finnish, Nordea Bank Finland
Oct 24th, 2014
Standard & Poor’s said on Tuesday that a Swedish Bankers’ Association proposal to suggest a reduction in the required level of amortisation to a 50% LTV ratio could help reduce asset-liability mismatch (ALMM) risk in covered bond programmes, but highlighted that issuers have already reduced this since 2008 by extending the duration of their funding.
Posted in Sweden
Tags: amortisation, S&P, Sveriges Riksbank, Sweden, Swedish, Swedish Bankers' Association
Oct 24th, 2014
Moody’s upgraded Eika Boligkreditt mortgage covered bonds from Aa2 to Aa1 on Thursday of last week.
Posted in Norway
Tags: covered bonds, Eika Boligkreditt, Moody's, Norway, Norwegian
Oct 24th, 2014
A solid start to the Nordic third quarter bank reporting season from Swedbank on Tuesday was built on by Handelsbanken and SEB, but Nordea fell short of consensus expectations, while in Norway DNB beat forecasts.
Posted in Industry Moves
Tags: DNB, Handelsbanken, Nordea, results, SEB, Swedbank
Oct 17th, 2014
The LCR Delegated Act from the European Commission is finally out. No, really, it is! Seriously, we are talking about the real thing, not just another leaked document but the final version, the one that will be relevant in the real world and not only talked about in Brussels and a number of European capitals.
Posted in From Crédit Agricole CIB
Tags: Basel III, covered bonds, LCRs
Oct 17th, 2014
Amortisation of new mortgage loans down to 50% of a property’s value in line with a Swedish Bankers’ Association recommendation on Tuesday of last week (7 October) would be beneficial, according to Moody’s, while an analyst suggested it could head off further binding measures from Sweden’s authorities.
Posted in Sweden
Tags: amortisation, Moody's, Svenska Bankforeningen, Sweden, Swedish, Swedish Bankers' Association
Oct 17th, 2014
Covered bonds’ anticipated favourable treatment in the Liquidity Coverage Requirement was confirmed by the European Commission on Friday, with the highest rated covered bonds eligible for up to 70% of liquidity buffers as Level 1 assets and others in Level 2A or 2B.
Posted in Industry Moves
Tags: Basel III, covered bonds, Danish, Denmark, European Commission, LCRs
Oct 10th, 2014
Having announced the third covered bond purchase programme (CBPP3) at its last press conference, at the beginning of September, the European Central Bank last Thursday (2 October) followed up with the technical details of CBPP3 — which didn’t disappoint our expectations as the eligibility criteria are very wide.
Posted in From Crédit Agricole CIB
Tags: CBPP3, ECB