Europe banks head for Asia to boost capital
They seek to diversify funding amid higher capital issuance requirements at home
Singapore
EUROPEAN banks are heading to Asia for capital as new rules at home demand they sell more than US$1 trillion of equity and subordinated debt to increase loss buffers.
French and German lenders have sold the equivalent of US$1.8 billion in notes that act as a cushion in case of insolvency this year, in denominations from the Chinese yuan to the Japanese yen. Before this year, they'd issued none. Dutch and Italian banks that began issuing in the region in 2012 have also stepped up activity.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea