銀行業

Lex_Banks run for cover

When Captain Cook first reached Australia, Prussia had just created the forerunner of today’s covered bonds. This month, Australian banks became the latest to issue the bonds, a safer cousin of the securitisations made infamous in 2007 during the onset of the global financial crisis. US lawmakers may also allow US banks to tap the market.

Don’t all rush at once. What makes covered bonds safer for investors poses risks to other bank creditors. Bondholders get securities backed by loans that stay on banks’ books and carry a bank guarantee, and they are protected even in bankruptcy. But covered bonds encumber bank assets, leaving less for other creditors. The long-term reliance on covered bonds or other secured borrowing threatens to leave all other creditors, including governments extending deposit guarantees, with no security.

Australian regulators have imposed a cap of 8 per cent on the amount of a bank’s domestic assets that can be tied up in cover pools. In Europe, regulators have differing limits; some have none, and all are aware that the banks they supervise are relying on covered bonds because unsecured borrowing is too expensive.

您已閱讀60%(1152字),剩餘40%(777字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。

中東期待沙烏地阿拉伯制衡川普

阿拉伯國家希望穆罕默德王儲和美國當選總統川普的密切關係能夠緩和川普政府的中東政策。

投資者押注防務支出增加,Palantir成爲「川普交易」贏家之一

彼得•蒂爾創立的數據公司的最大客戶是美國政府,自川普本月當選以來,其市值增加了230億美元。

Lex專欄:成長來之不易,雀巢前景平淡

要實現其成長目標,這家瑞士集團需要增加行銷投資。

Lex專欄:便宜商品是沃爾瑪股價上漲的基礎

沃爾瑪通過吸引高收入顧客和增加其他收入來源,出色地應對了經濟不景氣和通膨帶來的挑戰。

Lex專欄:奢侈品品牌寄希望於自己的美國夢

奢侈品在美國越來越具有吸引力,可能爲該行業提供新的成長跑道。

諾和諾德準備下一代減肥藥的試驗結果

這家丹麥公司預計,最新數據將顯示CagriSema可在一年多的時間內減輕25%的體重。
設置字型大小×
最小
較小
默認
較大
最大
分享×