UK Banks Hit With New Tax, But Escape Harsher Measures
22nd Jun 2010 17:29
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. banks escaped new taxes on profits and remuneration, but a widely expected levy on their balance sheets that could provide an extra GBP2 billion a year to the government raised warnings from the sector, which said the U.K.
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
22nd Jun 2010 16:15
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities a
Read moreMARKET TALK: UK Bank Levy Better Than Feared - Oriel
22nd Jun 2010 16:15
1515 GMT [Dow Jones] The newly-announced U.K. bank levy to raise roughly GBP2B is better than feared, says Oriel Securities analyst Mike Trippitt. Oriel sees Barclays (BCS) having a relatively large exposure because of its big balance sheet, with Standard Chartered (STAN.LN) and HSBC Holdings (HBC)
Read moreUK Bank Shares Gain Ground After Bank Levy News
22nd Jun 2010 15:22
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. bank shares gained ground Tuesday after the government's widely expected levy on the sector proved to be lower than expected, although industry groups warned it could still make U.K. banks less competitive than their foreig
Read moreBanca Monte dei Paschi Prices EUR1B 5-Yr Covered Bond
22nd Jun 2010 14:47
LONDON (Dow Jones)--Italy's Banca Monte dei Paschi di Siena SpA (BMPS.MI) has priced a five-year covered bond, via joint-lead managers Banca Monte dei Paschi Capital Services, Deutsche Bank AG, Morgan Stanley and Royal Bank of Scotland Group PLC, with the following terms, one of the banks said Tuesd
Read morePRESS RELEASE: Fitch Rates RBS's Series 1 Covered Bonds 'AAA'; Withdraws Expected Programme Rating
22nd Jun 2010 13:50
Link to Fitch Ratings' Report: The Royal Bank of Scotland plc - Mortgage Covered Bondshttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=534605Fitch Ratings-London-22 June 2010: Fitch Ratings has assigned the Royal Bank of Scotland plc's (RBS, rated 'AA-'/Stable/'F1+') Series 1 m
Read moreUK Bank Group Warns New Levy Could Make UK Less Competitive
22nd Jun 2010 13:50
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The British Bankers' Association warned Tuesday that the U.K. government's move to impose a tax on banks could make the U.K. banking sector less competitive, and said it will work with authorities to ensure the levy won't affect
Read moreMARKET TALK: Banks Rise After Bank Levy Not As Bad As Feared
22nd Jun 2010 13:43
1243 GMT [Dow Jones] The FTSE 350 banks index comes off lows and Lloyds Banking Group storms higher, as the UK Chancellor brings his budget speech to a close. A trader says the bank levy announced in the budget will raise just GBP2bn a year, not upwards of GBP3B as had been speculated in some public
Read moreEffective Regulation, Not Tax, Key To Reducing Bank Risk-AFME
22nd Jun 2010 13:36
By Patricia Kowsmann Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The Association for Financial Markets in Europe said Tuesday that while it welcomed more details on the tax that the U.K. government will impose on the banks, effective regulation remains the most important tool to avoid future
Read moreNordLB Guidance On EUR500M 2020 LT2 Bond At Swaps +3.10 Area
22nd Jun 2010 12:55
LONDON (Dow Jones)--Germany's Norddeutsche Landesbank Girozentrale, or NordLB, has set guidance on its planned EUR500 million, 2020, lower-tier 2 bond, around 310 basis points over mid-swaps, a bank working on the deal said Tuesday. Credit Agricole SA, Credit Suisse Group, Nord LB, Royal Bank of
Read moreUPDATE: Banca Monte dei Paschi 5-Year Covered Bond At Swaps +1.05
22nd Jun 2010 11:48
(Adds price guidance.) By Mark Brown Of Dow Jones Newswires LONDON (Dow Jones)--Italy's Banca Monte dei Paschi di Siena SpA (BMPS.MI) plans to issue a five-year covered bond, and has set price guidance at 105 basis points over mid-swaps, a syndicate official at one of the banks runni
Read moreBanca Monte dei Paschi Plans 5-Yr Covered Bond - Source
22nd Jun 2010 10:33
LONDON (Dow Jones)--Italy's Banca Monte dei Paschi di Siena SpA (BMPS.MI) plans to issue a five-year covered bond, a person familiar with the situation said Tuesday. Earlier this month, Moody's Investors Service Inc. and Fitch Ratings both assigned expected AAA ratings to covered bonds to be iss
Read moreNordLB Plans EUR500 Mln 2020 Lower-Tier 2 Bond
22nd Jun 2010 09:47
LONDON (Dow Jones)--Germany's Norddeutsche Landesbank Girozentrale, or NordLB, is planning a EUR500 million, 2020, lower-tier 2 bond, one of the banks working on the deal said Tuesday. Credit Agricole SA, Credit Suisse Group, Nord LB, Royal Bank of Scotland Group PLC and UniCredit SpA are joint
Read moreVW Bank Prices EUR1B 3-Year Bond At 99.797, Swaps +0.80
21st Jun 2010 15:44
LONDON (Dow Jones)--Volkswagen Bank GmbH has priced a EUR1 billion, three-year bond offering, with the following terms, joint lead-managers Credit Agricole SA, DZ Bank, Royal Bank of Scotland Group PLC and UniCredit SpA said Monday: Amount: EUR 1 billion Maturity: June 28, 2013 Co
Read moreBuyout Firms Circle Bain Capital's TeamSystem -Sources
21st Jun 2010 12:07
By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Several private equity firms are likely to bid for TeamSystem SpA, the Italian software company put on the block by Bain Capital, in yet another example of the popularity of payment processing companies, people familiar with the
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