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Monday, March 11, 3:45 AM Europe's repo market dropped 11.9% to €5.6T in 2012, a report shows, suggesting that many banks are still relying on cheap loans from central banks rather than on each other and on investors for short-term financing. Report author Richard Comotto says the larger concern is that the repo market is contracting at a time when authorities would like to see the financial sector reduce its reliance on central banks. 1 Comment [Financials, Global & FX]
Monday, January 7, 5:02 AM "New, relaxed (Basel) liquidity rules suggest economies and banks may be weaker than thought," tweets Reuters' James McGeever. "And will new rules spur bank lending? Jury out on that." Markets don't seem to be too worried, though, with Stoxx Europe 600 Banks index +1.5%. (Previously) 1 Comment [Financials, Top Stories]
Monday, January 7, 4:04 AM Credit Agricole (CRARF.PK) leads major European banks higher, rising 4.7% after regulators ease Basel liquidity rules, followed by Deutsche Bank (DB) +4.3%, Unicredit (UNCFY.OB) +4.3% and Barclays (BCS) +3.7%. Also, SocGen (SCGLF.PK) +3.4%, HSBC (HBC) +0.75%, Lloyds (LYG) +1.9%, Santander (SAN) +2%, RBS (RBS) +1.5%, UBS (UBS) +2% and Credit Suisse (CS) +3.4%. Italy's Banca Monte dei Paschi di Siena (BMDPY.PK) +15%. Comment! [Financials, On the Move, Top Stories]
Tuesday, January 1, 11:40 AM Financial services ETFs (XLF, IPF, IXG led all sector ETFs in 2012, followed by consumer discretionary (XLY, IPD, RXI), healthcare (XLV, IRY, IXJ) and tech (XLK, IPK IXN). Utilities (XLU, IPU, JXI) and telecom (IST, IXP) underperformed. Comment! [Quick Ideas]
Thursday, May 17, 2012, 7:54 AM Fitch's estimate of $566B in additional capital needs for the world's largest banks is likely to create a tradeoff for the lenders. A better capitalization ratio could lead to lower risk premiums, but more capital means ROE will suffer, maybe by more than 20%, thus reducing the bank's ability to attract investment. 3 Comments [Financials]
Thursday, May 17, 2012, 4:43 AM The world's 29 largest banks will need to raise an extra $566B in new capital by 2018 to meet tougher Basel III standards, according to a Fitch study. The extra capital would be a 23% increase on what banks held at the end of 2011, or roughly equivalent to three times their combined annual earnings. U.S. banks will be hit particularly hard by the relative capital requirements for risky activities. 5 Comments [Top Stories, Financials]
Saturday, September 10, 2011, 8:15 AM Uncomfortable parallels for banks from Floyd Norris: Indexes of financials are down about as much this year as they were at this point in 2008 - right before Lehman Brothers collapsed and the stocks tanked further (chart). 5 Comments [Financials]
Monday, August 1, 2011, 4:49 AM Major European hedge fund Lansdowne Partners has reportedly sold its entire $850M stake in Goldman Sachs (GS), underlining concerns about banking prospects due to regulatory changes. The divestiture has echoes of Lansdowne's exit from the industry in 2008, ahead of the financial crisis. Comment! [Financials, M&A]
Tuesday, June 7, 2011, 6:42 AM The Fed is said to be in favor of a Basel III proposal calling for a maximum capital surcharge of three percentage points on the largest global banks; financial stocks took a beating yesterday on fears the surcharge might run as high as 7%. 3 Comments [Financials, Top Stories]

IPF SPDR S&P International Financial Sector ETF

IPF

SPDR S&P International Financial Sector ETF