From Crédit Agricole CIB

Three year LTROs: Repay or delay?

Nov 22nd, 2012

The level of euro liquidity due to bank borrowing from the European Central Bank (ECB) has not been making headlines since the two three year longer term refinancing operations (LTROs) last December (Eu489.5bn) and February (Eu529.5bn).

Senior attractions and redemptions to play into 2013 supply dynamics

Nov 15th, 2012

Senior unsecured will be the cornerstone of bank funding in 2013, forecasts Vincent Hoarau, Head of FIs, Covered Bond & ABS Syndicate at Crédit Agricole CIB, with covered bond supply being partially led by the periphery and Nordic covered bonds being in a strong position.

How might Norwegian issuers react to any regulatory curbs?

Nov 8th, 2012

Florian Eichert, Senior Covered Bond Analyst at Crédit Agricole CIB, examines the Norwegian FSA’s reasons for applying the brakes to covered bond issuance and considers how Norwegian issuers might react.

Nordic banks’ third quarter results: first impressions

Oct 25th, 2012

Mats Anderson, Cheuvreux bank equity analyst, gives a first take on third quarter results announced by some of the largest Nordic banks this week.

Nordic investors face frustrations home and away

Oct 18th, 2012

Florian Eichert, Senior Covered Bond Analyst at Crédit Agricole CIB, explores how Nordic investors’ growing readiness to look at peripheral credits could be frustrated by delays in reopening credit lines, while supply from local credits is held back by regulatory noises.

Will euros see the Swedes again before year-end?

Oct 12th, 2012

Alex Sönnerberg, Nordic DCM Origination, Crédit Agricole CIB, looks at how the rest of the year might play out for Swedish covered bond issuers in euros in light of factors such as basis swap moves and funding needs.

Aktia changes: implications for bondholders

Oct 4th, 2012

Crédit Agricole CIB Senior Covered Bond Analyst Florian Eichert looks at the possible outcomes for Aktia Real Estate Mortgage Bank covered bondholders in light of the Finnish issuer’s plans to issue through Aktia Bank and a possible liability management exercise. 

Introducing Junior Covered Bonds

Sep 27th, 2012

Vincent Hoarau, head of financial institutions, covered bond and ABS syndicate at Crédit Agricole CIB, takes a look at Danish Junior Covered Bond issuance.

Safe haven status maintained in a risk-on market environment?

Sep 20th, 2012

Alex Sönnerberg, Nordic DCM Origination at Crédit Agricole CIB, explores trends in the performance of Nordic financial institutions’ issuance this year and makes predictions for a post-OMT market.

Nordic Banks: Successfully tapping into the latest Tier 2 trends

Sep 13th, 2012

Danske Bank is set to price a new US dollar-denominated 25 year non-call five Tier 2 issue today (Thursday), with a coupon said to be in the 7.125% area after the deal was heavily oversubscribed.