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Thursday, 30 March 2017

Markets

FICC Markets Standards Board logo

FICC standards group sets sights on 70 'grey areas'

IFR 2172 25 February to 3 March 2017

The standards board for fixed income markets sees dozens of grey areas that could open the door to conflicts of interest, and is aiming to clarify and codify the rules around them.

Monte dei Paschi bank headquaters

State aid decision looms for Monte dei Paschi

IFR 2172 25 February to 3 March 2017

The European Commission is unlikely to block Italy’s plan to recapitalise Banca Monte dei Paschi di Siena after the failure of the bank’s €5bn private-sector fundraising, but could impose harsh restructuring conditions to make the Tuscan lender less systemically important in the region.

Kabbage readies second business-loan ABS deal

21 February 2017

Online lender Kabbage has hired Guggenheim Securities to sell its upcoming US$500m small business loan securitization, according to marketing materials viewed by IFR.

Anthem

Banks drawn in as Cigna and Anthem square off

IFR 2171 18 February to 24 February 2017

Banks advising healthcare insurance companies Anthem and Cigna on their mega-merger could be in for a longer than expected assignment as the two health insurance companies square off in court, suing and counter-suing each other over the proposed combination.

IMF

IMF board split over Greece's debts

IFR 2170 11 February to 17 February 2017

Five years after Greece fired the gun on the biggest sovereign debt exchange ever, yields on the country’s remaining bonds gapped out alarmingly last week when one of its official sector creditors, the International Monetary Fund, spelled out why it could not provide more funds.

Investors dump Teva bonds as CEO's departure clouds outlook

07 February 2017

Teva Pharmaceutical’s bonds traded dramatically wider on Tuesday, in a sell-off triggered by the resignation of its CEO and uncertainty over its strategy.

A woman passes a cash machine at a Co-Operative Bank branch in central London

Capital concerns 'overdone' at Co-op

IFR 2169 4 February to 10 February 2017

The Co-operative Bank may have to adjust its business plans to suit the ongoing low-rate environment, after admitting its common equity Tier 1 ratio was likely to fall below the previously forecast base of 10%, but it is unlikely to need another full capital restructuring, according to sources close to the bank.