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EU to help banks to jettison loans soured by COVID The European Union set out plans on Wednesday to help banks to jettison soured loans more easily and continue lending to households and business hit by the COVID-19 pandemic.
FILE PHOTO: European Union flags flutter outside the European Commission headquarters, where Brexit talks are taking place, in Brussels, Belgium, December 13, 2020 REUTERS/Yves Herman
16 Dec 2020 09:30PM Share this content
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LONDON: The European Union set out plans on Wednesday to help banks to jettison soured loans more easily and continue lending to households and business hit by the COVID-19 pandemic.
Dec 10 2020, 9:34 PM
December 10 2020, 5:31 AM
December 10 2020, 9:34 PM
(Bloomberg) In Europe, investors like Alessandro Tentori are starting to say their goodbyes to the regionâs bond market, worried that soon there may not be any place left for them.
(Bloomberg) In Europe, investors like Alessandro Tentori are starting to say their goodbyes to the regionâs bond market, worried that soon there may not be any place left for them.
Collapsing trading volumes are a worrying sign for the marketâs future, the chief investment officer for Axa Investment Managers wrote in a recent note to clients titled âBye Bye Bunds,â a reference to the German bonds that serve as the benchmark for Europe. The culprit? The European Central Bank, which this year has taken its purchases of debt to unprecedented levels. By the end of 2021, investors will be even more squeezed out.
RPT-FOCUS-Europe s bond boom may stem investment bank exodus from sovereign debt auctions reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Banks warn EU of disruption in derivatives markets in January By Huw Jones
FILE PHOTO: Voting on recommendation on Britain s Withdrawal Agreement at European Parliament in Brussels
LONDON (Reuters) – Financial markets will be disrupted in January unless the European Union allows the bloc’s investors to use derivatives trading platforms in London, a group of seven financial industry bodies have said.
Britain has left the EU and transition arrangements giving continued full access end on Dec. 31.
Brussels has so far not granted “equivalence” or permission for platforms in London, the world’s major centre for derivatives trading, to continue serving banks and companies in the bloc from January 1.
Joint Trade Associations Letter Requesting DTO Equivalence Date
10/12/2020
On December 9, ISDA and seven other trades associations (the Association for Financial Markets in Europe, the Alternative Investment Management Association, the European Banking Federation, Electronic Debt Markets Association Europe, the European Venues and Intermediaries’ Association, FIA and the asset management group of the Securities Industry and Financial Markets Association) sent a letter requesting that the European Commission recognize the equivalence of UK trading venues for the purposes of the derivatives trading obligation before the end of the Brexit transition period. Otherwise, the long-term consequences for use of market infrastructure are uncertain.
Click on the PDF below to read the letter.