The Banker back issues from November 2005:
This Month (November 2005): RBS Proves There Is No Success Unless You Put Spin On It.(Royal Bank of Scotland)
Nov 01, 2005 ... For the past eight years in Britain, we have "laboured" under a government consisting of mostly spin and very little substance. Time and again, vital public sector reform has been fudged - public sector pensions being the latest example - because prime minister Tony Blair is preoccupied ...
Comment: Deutsche's Smart Buys Reaffirm Retail Ambition - The German Bank Is Ramping Up Its Retail Strategy By Acquiring Small Banks - But Is Avoiding Shopping At Home.
Nov 01, 2005 ... Last month, Deutsche Bank announced the acquisition, with Sal Oppenheim, of a 14% stake of China's Huaxia Bank for E272m. A day later came the revelation that it was launching a retail banking operation in India, involving 400 staff in eight cities. And now Deutsche is a ...
Comment: Basel II Risks Failure Without The US On Board - If The US And Europe Cannot Agree On A Common Capital Adequacy System, The Idea Of A Level Playing Field Will Become A Vain Hope.
Nov 01, 2005 ... If Basel II is built on the fundamental principle of providing a level playing field of capital rules for banks competing internationally in a more sophisticated financial environment then the field looks rather rocky at present. With the EU recently approving its version of Basel II - ...
Bracken: Three Threats To The Rosy Picture - Banks Have Been Having A Good Run But The Critical Challenge Is To Find Future Top Line Growth, Says John Tiner.
Nov 01, 2005 ... The banking sector has been incredibly strong but this could be as good as it gets. The healthy balance sheets, the low-interest rate environment and the benign economic cycle have prompted many market commentators to talk about a wall of liquidity. Banks have been willing to lend cheaply ...
Viewpoint: A Losing Battle - The World's Biggest Illegal Industry Is Money Laundering, Which Is On The Rise Despite Government Efforts To Curb The Activity. Moises Naim Evaluates The Consequences In Today's Financial World.
Nov 01, 2005 ... Despite the post 9/11 efforts to cut the funding of international terrorism, money laundering persists and is growing. That is because in the 1990s the world became a paradise for smugglers and money launderers and a nightmare for governments trying to stop them. According to the IMF, ...
This Month: News - Main News - BBVA Seeks Bigger Footprint In US And Spain.(Brief Article)
Nov 01, 2005 ... BBVA is moving strongly into two new areas, the US and immigrant services in Spain, which it believes may boost its profits substantially in years to come. "We want a strong franchise on the Texas frontier and Southern California," said chief executive Jose Ignacio Goirigolzarri ...
This Month: News - Deutsche Heads Into Asia.
Nov 01, 2005 ... Deutsche Bank is launching retail banking operations in India, tapping into the country's increased spending capacity and expansion of consumer goods markets. The German bank plans to open branches in eight cities, including Mumbai, Delhi and Kolkata. Running alongside the usual product ...
This Month: News - BBVA Battles Bid For BNL.(Brief Article)
Nov 01, 2005 ... BBVA is launching a legal challenge to insurance firm Unipol's takeover bid for Italian bank BNL. Spain's BBVA, which has a 14.75% stake in BNL, withdrew its bid for BNL in July when Unipol's stake reached 51%. BBVA is reported to have said that it does not want to start a bidding war with ...
This Month: News - Refco To Sell Futures Arm.(Brief Article)
Nov 01, 2005 ... Refco, the securities and futures broker on the verge of collapse, may auction its futures arm, and several bidders have already emerged. Refco's former CEO, Philip Bennett, was recently charged with securities fraud following allegations that a firm he controlled was involved in shuffling ...
This Month: News - Chicago IPO Well Received.(Brief Article)
Nov 01, 2005 ... The Chicago Board of Trade (CBOT), the second largest futures and derivatives exchange in the US, has launched its IPO on the New York Stock Exchange. The flotation priced about 3.2 million shares - representing 6% of the total - at $54 per share, well above the initial indicative price ...
This Month: People - BankMuscat First To List GDRs In London.(global depository receipts)(Brief Article)
Nov 01, 2005 ... Marking the first day of trading of its global depository receipts (GDRs), executives from BankMuscat, Oman's largest bank, attended the opening session at the London Stock Exchange. BankMuscat is the first bank from the Gulf Cooperation Council (GCC) region to have its GDRs listed on the ...
This Month: People - Sir John Puts Testing Times Behind Him.(Bank of England)(Brief Article)
Nov 01, 2005 ... Sir John Gieve, permanent secretary at the Home Office, has been appointed the new deputy governor of the Bank of England. He has worked in the civil service since 1974 and took up his current post in 2001, following an extensive stint at the Treasury. Describing his ...
This Month: People.(EU internal market commissioner Charlie McGreevy)(Hugh Scott-Barrett joined ABN AMRO Bank N.V. )(Brief Article)
Nov 01, 2005 ... - EU internal market commissioner Charlie McGreevy is making his voice heard from Brussels. Defending the introduction of new accounting standards across the EU, he recognised that the move to the new system was difficult and expensive, but reassured IFRS critics that the pain would be ...
This Month: Bottom Line - Foreign Banks' Domination Of Bulgaria Set To Continue.
Nov 01, 2005 ... With more than 83% of Bulgaria's banking assets under the control of foreign banks or financial institutions, who has gained from the country's banking privatisation in the past decade? Foreign banks have entered because they see a business opportunity in developing the largely ...
Karina's Kolumn: Arnold's Post-Abbey Ponderings - Former Abbey CEO Luqman Arnold Tells Karina Robinson About His Future Plans And Why It Is Important To Take Time Out Occasionally.(Interview)
Nov 01, 2005 ... It is appropriate that Luqman Arnold's sun-filled office is in private equity/hedge fund-land in London's swish Mayfair. The former CEO of Swiss bank UBS and UK bank Abbey is about to embark on his latest venture in a varied career in financial services. "I am looking seriously ...
Cover Story: Why RBS needs spin - Despite A Meteoric Rise To Global Powerhouse, The RBS Board Has Managed To Transform Itself From Darling To Demon In The Eyes Of Its Shareholders. Geraldine Lambe Charts The Bank's Fall From Grace.(Royal Bank of Scotland)
Nov 01, 2005 ... When is an excellent management team not an excellent management team? When your shareholders don't believe it. Such is the case with Royal Bank of Scotland (RBS) shareholders, and their jaundiced view was amply displayed when chief executive Sir Fred Goodwin was asked if he was a ...
Capital Markets: Agenda - Michael Klein - Michael Klein, CEO Of Global Banking At Citigroup, Tells Brian Caplen That Gaining Corporate Client Trust Requires The Bank's Senior Advisers To Position Themselves As Peers Of The CEOs And Boards With Which They.
Nov 01, 2005 ... The CEO of a large corporation holds the position for an average of five years. In that time there may only be two or three transformational decisions taken. The aim of the Citigroup investment banker is to occupy a seat across the table from the CEO, to be a strategic adviser on a ...
Capital Markets: Insurance Firms Gain A Sense Of Security - Insurance-linked Securities Have Raised The Interest Of A New Swathe Of Investors And Are Providing A Source Of Capital Along With Increased Financial Flexibility For Insurers. Michael Marray Rep.
Nov 01, 2005 ... There is growing appetite from investors on the international capital markets for insurance-linked securities (ILS). The asset class is gaining acceptance among both traditional money managers and specialised hedge funds, and allowing insurance companies to diversify their funding sources ....
Capital Markets: Issuer Strategy - Quality Pays Off For Gazprombank - Investors Are Falling Over Themselves To Buy Bonds Issued By Russia's State- owned Gazprombank. Edward Russell-Walling Explains Why.
Nov 01, 2005 ... Russian banks are not always synonymous with credit quality. When Gazprombank came to market in September with a 10-year bond, however, the issue was more than six times oversubscribed. There are Russian banks, and Russian banks. With assets of some $10.5bn at last year-end, ...
Capital Markets: Team Of The Month - UBS Adds Gleam To GECC's Golden Touch - When Triple A Rated GECC Decided To Issue A 32-year Subordinated Note, It Chose UBS To Ensure The Success Of This Groundbreaking Deal. Nick Kochan Reports.
Nov 01, 2005 ... After burning the midnight oil in Stamford, Connecticut, the strong coffee was flowing in the offices of UBS and Merrill Lynch in the early hours of September 5. For the funding department at GECC and the debt management departments at UBS and Merrill Lynch in London were beginning the ...
Capital Markets: Taking Issue - Barclays Capital Gives A Reality Check On An Outdated Model; CSFB Makes A Loyal Friend For Brazil; And Merrill Has A Plan To Avoid Past Mistakes. Brian Caplen Reports.
Nov 01, 2005 ... What lies behind an outdated yardstick Create an original model for a bank and the market will be using it as a yardstick long after the originator has moved on. The view of Barclays Capital as a purely debt-focused European house is well out of date but few observers have kept ...
FX & Derivatives: Confidence Building - Together With A Growing Band Of Property Sector Professionals, Bankers Are Working To Kick-start The Fledgling Property Derivatives Market. In This Second Article On The Subject, Natasha De Teran Explores The Market.
Nov 01, 2005 ... In mid-September, the UK's Investment Property Forum sprung a new arm. The Property Derivatives Interest Group (PDIG) was born out of the real estate industry body - a special interest forum, representing those keen to see a property derivatives market take off. The PDIG's birth was ...
Cash & Securities Services: Buy-side Ignores MiFID At Its Peril - The EC's Markets In Financial Instruments Directive Will Affect Buy-side Firms From April 2007, Obliging Them To Create A Policy For Best Execution. But As Dan Barnes Reports, Many Of Them.(Markets in Financial Instruments Directive )
Nov 01, 2005 ... The impact of the EC's Markets in Financial Instruments Directive (MiFID) upon the sell-side has been discussed ad infinitum, but those on the buy-side should also be aware of the changes that the directive will make to their business. The pan-European regulation comes into force in April ...
Western Europe: Spain - Banks Feel Effects Of Cajas' Success - Opposition Is Mounting To The Privileged Position Of Spain's Ultra Successful Savings Banks, Says Jules Stewart.
Nov 01, 2005 ... It used to be said that Spain's savings banks, known as cajas de ahorros, posed a threat to the dominant position held by the big commercial banks. That threat is now a reality, at least in the domestic market. As of this year, the country's 46 cajas now account for 54% of the mortgage ...
Western Europe: Spain - Beyond Mere Profit Maximisation - Juan Ramon Quintas, Chairman Of The Confederacion Espanola De Cajas De Ahorros, Spain's Savings Banks Federation, Tells Jules Stewart About The Benefits Of Being Mutual.(Interview)
Nov 01, 2005 ... Q: Is the proposed merger of the three Basque cajas the tip of the iceberg? A: This is a unique case because the cajas of the three Basque provinces do not operate in one another's territories and, until recently, none of them had branches in other Spanish regions. Therefore ...
Western Europe: Capital Requirements Directive - Spreading The Word - Fifteen Months After The Basel II Framework Was Published, The European Commission Has Turned It Into A New Law - The Capital Requirements Directive. Michael Imeson Reports On The Trans.
Nov 01, 2005 ... The long-awaited Capital Requirements Directive (CRD), which transposes the Basel II capital accord into EU law for all credit institutions and investment firms, has finally been ratified. The European Parliament voted to approve it on September 28, and on October 11 it was rubber-stamped ...
Central & Eastern Europe: Russia - Rossisky Resurrection - Rossisky Kredit Bank Nearly Went Under In Russia's 1998 Financial Crisis. Ben Aris Reports From Moscow On How It Weathered The Storm And Its Miraculous Comeback As An Investment Bank.
Nov 01, 2005 ... Rossisky Kredit Bank (RKB) is back from the dead. One of the dozen banks that were household names in the 1990s, but collapsed during the 1998 financial crisis, RKB is the only big Russian bank to have paid off all its debts and returned to profit. RKB's recovery is a damning ...
Central & Eastern Europe: Belarus - Overcautious Approach May Impede Progress - President Alexander Lukashenko's Tight Controls Have Ensured That Belarusians Have Not Suffered In The Slow Transition To A Market Economy. But The Same Restrictions Are Curbi.
Nov 01, 2005 ... Atom Bank, one of the small clutch of privately owned banks in Belarus, is tucked away down a potholed lane behind the Belmetall steel works. The walls are bare of any decoration but, despite the Spartan white paint and bright fluorescent lighting, Atom's offices are modern by Belarusian ...
Asia: Hong Kong - Stepping Stone Into China - Karina Robinson Reports From Hong Kong On The Incorporated Banks' Mainland China Strategies.
Nov 01, 2005 ... In July, Citigroup's Hong Kong business incorporated itself as a Hong Kong bank so that it could do business in China. At face value, that was not a big step but the bank's move encapsulates the main themes governing banks in the Special Administrative Region. Although profitable and still ...
Americas: Mexico - Confidence in Mexico is Hard To Shake - As The Main Political Parties Choose Their Candidates For Next Year's Presidential Election, Monica Campbell Reports On The Contenders, And Prospects For The Economy And Investment If They Succeed.
Nov 01, 2005 ... Five years have passed since Mexico wildly celebrated president Vicente Fox's electoral victory, which broke the 71-year grip held by the authoritarian Institutional Revolutionary Party (PRI). Now Mexico is gearing up for July 2006, when the second presidential election since the shift ...
Americas: Argentina - Investment Grade In Reach? - Argentina's Economic Revival Is Building Confidence In Its Ability To Clinch Investment Grade In A Few Years' Time. Jason Mitchell Reports From Buenos Aires.
Nov 01, 2005 ... Argentina's economic rebound is so strong that economists say the country could be investment grade within a few years, marking a major turnaround from its default and devaluation only four years ago. Daniel Artana, chief economist of the Buenos Aires-based economic consultancy, ...
Americas: Brazil - Bovespa Index Will Chart Corporate Behaviour - As Interest In Socially Responsible Investment Increases In Brazil, The Stock Exchange Plans An Ethical Index That Will Track Responsible Companies.
Nov 01, 2005 ... In the wake of Brazil's corruption scandal, the country's main stock exchange is preparing to launch a socially responsible investment index on December 1. The Sao Paulo-based Bovespa will use the tradeable index to track Brazil's 40 most responsible companies. In what is a ...
Americas: Barbados - In Defence Of Unorthodox Economic Strategies - Barbados Premier Owen Arthur Tells James Eedes What Lies Behind His Economic Policies, Which He Continues To Follow Against The Advice Of The IMF.
Nov 01, 2005 ... Owen Arthur, the prime minister of Barbados, has mounted a staunch defence of his government's economic policies in the face of IMF concern and signs of waning political support at home. In an interview, Mr Arthur says that unique circumstances demanded an "unorthodox" solution, ...
Americas: St Kitts And Nevis - Big Plans For A Small State - St Kitts And Nevis Is Taking Steps To Sustain Stable Growth, Benefit From Regional Integration And Develop The Financial Sector. Prime Minister Denzil Douglas Talks To James Eedes.
Nov 01, 2005 ... St Kitts and Nevis is small. The eastern Caribbean twin island-state is home to a population of about 40,000 and has an economy valued at just over $420m. Like other countries in the Caribbean, it has been buffeted by a series of external shocks - hurricanes and the 9/11 terror attacks, ...
Middle East & Africa: Top 100 Arab Banks - Arab Banks Set To Smash Profits Record Again - Runaway Profits At Arab Financial Institutions Show No Signs Of Slowing Down, As This Year's Top 100 Proves.
Nov 01, 2005 ... Profits at major Arab banks, particularly those in the oil-rich Gulf states, continue to boom. Third quarter results this year at leading banks indicate that 2005 is likely to significantly exceed the record-breaking profits of 2004. The latest results show stunning increases, ...
Middle East & Africa: Saudi Arabia - Saudi's New Bond Market Beckons - The Pace Of Saudi Capital Market Reform Is Quickening, With The Establishment Of A Secondary Market In Government Bonds, Write James Gavin And Jon Marks.
Nov 01, 2005 ... Awash with liquidity, Saudi Arabia might traditionally have been expected to shelve its more ambitious reform plans, priming the pump instead with government-funded infrastructure projects fuelled by revenues from national oil company Saudi Aramco. But, while he was crown prince, King ...
Middle East & Africa: Kuwait - Mood Of Confidence Permeates The Market - Foreign Banks Are Arriving In Kuwait At Last, Just As The Bank Of Kuwait And Middle East Takeover Signals The Domestic Market's Renewed Attraction, Writes Paul Melly.
Nov 01, 2005 ... On October 2, HSBC Middle East became the second foreign bank to open its doors in Kuwait under the pilot liberalisation programme developed by the authorities in the past year. BNP Paribas is already operating there, National Bank of Abu Dhabi will follow soon and Citibank has just been ...
Middle East & Africa: Lebanon - Political Events Mark Transitory Year - Highly Capitalised And With Abundant Liquidity, Lebanon's Top-tier Banks Remain Optimistic About Their Prospects Despite Difficult Political Circumstances, Writes James Gavin With Jon.
Nov 01, 2005 ... The Beirut banking fraternity will look back on 2005 with distinctly mixed feelings. The St Valentine's Day assassination of former prime minister Rafiq Hariri robbed Lebanon of the central figure behind its post-civil war renaissance, yet the aftermath - with international and domestic ...
Middle East & Africa: Jordan - Focus On Governance And Consolidation - As Jordanian Banks Report An Upturn, More Attention Is Being Paid To Consolidation, Governance And Product Range In Efforts To Strengthen The Sector, Writes Selwa Calderbank, With Jon.
Nov 01, 2005 ... Efforts to enhance capital and intensify supervision are paying off: the Jordanian banking sector's health has been improving steadily, with banks emerging stronger and more profitable after surviving a number of potentially damaging shocks in the past decade or more. In Amman, ...
page 30 BNK Middle East & Africa: Algeria - Oil Revenues Aid Recovery - Algeria Is Working Hard To Recover From Years Of Civil War. Its Twin Aims Of Social Reconciliation And Fiscal Reform Include Restructure Of The Financial Services Sector. James Eedes.
Nov 01, 2005 ... Late in September, Algerians voted overwhelmingly in favour of a deal to offer amnesty to all but the worst perpetrators of atrocities committed during the north African country's decade-long civil war throughout the 1990s. Despite protestations from human rights campaigners, who said the ...
Middle East & Africa: Nigeria - Tough Regime Starts To Pay Off - Nigeria's Central Bank Governor Charles Soludo Is Pushing Through Reforms Designed To Strengthen The Banking Sector And Is Seeing Results. James Eedes Reports.
Nov 01, 2005 ... With two months until the year-end deadline for Nigerian banks to meet new minimum capital requirements, central bank governor Charles Soludo has declared the process on track and on time. In a July 2004 announcement that rocked the industry, Mr Soludo ordered banks to increase ...
Special Supplement: Basel II - Ease The Path To Compliance - Banks Can Make Their Basel II Compliance Journey Easier If They Know Which Stage They Are At, What Problems They Are Likely To Face And What Solutions They Can Rely On. Arun Pingaley And Kiran N.
Nov 01, 2005 ... As they face impending Basel II deadlines in key jurisdictions and frenetic implementation of compliance initiatives, several banks are beginning to realise that their perceptions of the capital accord have been off the mark. Our research shows that there are several stages of a Basel II ...
Special Supplement: Basel II - Get The Rules Right - As US Concerns Over Minimum Regulatory Capital Requirements Come Late In The Day, The Basel Committee Must Seriously Consider Delaying Implementation, Says John D Hawke Jr.
Nov 01, 2005 ... On September 30 the US bank regulatory agencies announced a revised schedule for the implementation of Basel II, the new capital standards for internationally active banks. Under the revised schedule, US banks will start their one-year "parallel run" - tracking capital under both the old ...
Special Supplement: Basel II - A Starring Role For Market Discipline - Market Discipline Should Be Used To Lower The Risk Of Arbitrary Supervisory Discretion In The Implementation Of Pillar 2 Of The Basel II Accord. Professor Harald Benink Addresses The L.
Nov 01, 2005 ... The Basel II Accord of June 2004 seems to mirror a subtle but important emphasis with respect to the potential use of pillar 2 (supervisory review or qualitative supervision) as a counterbalancing mechanism to the quantitative assessment of banks' internal ratings-based (IRB) systems ...
Special Supplement: Basel II - A Chance To Win Business Benefits - Ravi Varadachari Explains How Banks That Plan To Comply With Basel II's Advanced Approaches Can Use Them For Strategic Decision Making, Such As Capital Allocation For Individual Lines Of B.
Nov 01, 2005 ... One of the chief drawbacks of Basel I was its inability to demand that capital be held by banks commensurate with their underlying risk. The Basel Committee, therefore, initiated work on Basel II with this underlying purpose and attempted to construct rules to this effect. The ...
Retail Banking: Microfinance - A Broader Remit For Microfinance - The Middle East Is Enjoying An Investment Boom But Risks Leaving The Poor Further Behind. Microfinance Can Help To Improve Their Prospects But It Will Take More Than Loans Alone. Rula Dabab.
Nov 01, 2005 ... With the price of oil more than doubling in the past year, Arab investors from Dubai to Marrakech are channelling the windfall into everything from Islamic bonds to regional telecoms. One such investor, Investcom Holding, recently earned $741m through its initial public offering, the ...
Retail Banking: Biometrics Make Inroads - Although Not Yet In General Use, Biometrics Are Slowly Being Tested And Adopted In The Banking Sphere As A Way Of Increasing Security, Wendy Atkins Reports.
Nov 01, 2005 ... Five years ago, the average consumer's reaction to biometrics was generally either quizzical, because they did not understand how it worked or believed that it belonged in the secret service fiction of James Bond, or suspicious because they did not want to disclose such personal ...
Technology: The ATM Story Is Far From Over - Some Banks Are Outsourcing Their ATM Function To Increase Margins But Others Are Still Looking For Ways To Offer New Transactions At Their Machines. Dan Barnes Reports On The Latest Developments.
Nov 01, 2005 ... For some banks, the automated teller machine (ATM) is a function of the treasury, a necessary cost to be reduced as far as possible. For others, it is a valued point of contact with customers at which relationships can be strengthened and new products sold. These views appear to be ...
Technology: Tech Vision - Rene Querret - Societe Generale's Chief Information Officer Rene Querret Tells Dan Barnes Why The French Bank Is Increasingly Using Third-party IT Providers And Of The Complications That Can Occur.
Nov 01, 2005 ... The fantastic view across Paris from the top floor of Societe Generale's towers in La Defence is apt given the 'big picture' one sees when talking to CIO Rene Querret. In a side of the finance industry whose interpretation of 'long term' is a three-year licensing agreement, the bank has ...
Technology: Trading Timebomb Is Ticking - New Technology Is Needed To Keep Pace With The Speed And Volume Of Credit Derivatives Trades. The First Step Must Be For All The Players In The Market To Buy Into The Need For Change, Says Dan Barnes.
Nov 01, 2005 ... The huge growth in credit derivatives trading has outstripped the systems used to confirm the deals. In September, the Federal Reserve Bank of New York met with a number of banking groups and regulatory bodies to discuss the backlog of unconfirmed trades. Banks have pledged to take action ....
Technology: Shaping Tomorrow - Stop Complaining, Get Training - Customer Complaints Cost Banks Dearly In Loss Of Loyalty And Client Profits. In Some Cases The Banks Only Have Themselves To Blame For Encouraging Thoughtless Responses To Customers' Concerns.
Nov 01, 2005 ... The head of a major bank's customer complaints division tells me that the average bank with 10 million customers loses more than oe100m a year due to customer complaints. That is the cost of the loss of customer loyalty and, more importantly, the loss of customer profitability. The loss of ...
Technology: Statistics - BPM Software Spend Continues.
Nov 01, 2005 ... Business process management (BPM) tools continue to show significant traction in the banking industry. Banks employ them in selected processes, such as lending origination, to streamline and automate manual operations and to replace ageing legacy system components. Some banks implement ...
Regulation: More Accounting Rules - Proposed By The Committee Of European Banking Supervisors, Translated From Officialese By Michael Imeson.
Nov 01, 2005 ... What is it? CP06 is another set of accounting regulations. Fantastic! Just what we need after this year's IFRS humdinger. It's still at the embryonic stage but if it saw the light of day it would require many listed banks in the EU to give national regulators more information ...
Special Supplement: European Mortgages - Whole Loan Sales Head Through Roof - Trade In Whole Mortgage Loans Is Brisk In The UK, While Germany And The Netherlands Show Potential, But The Booming European Market's Main Player Is American. Michael Marray Rep.(Industry Overview)
Nov 01, 2005 ... The whole loan market in the European mortgage sector is booming, with a growing number of mortgage originators using whole loan sales as a quick and efficient way to raise funding and move assets off their balance sheets. Many of the whole loan buyers already have their own ...
Special Supplement: European Mortgages - Innovative Techniques For Funding - European Lending Institutions Are Increasingly Using Securitisation And The Covered Bond Market In Tandem As A Means Of Reaping The Advantages Of The Different Tools. Natasha De.
Nov 01, 2005 ... Not long ago, European mortgage originators relied almost entirely on retail deposits and the issuance of senior unsecured debt for funding their mortgage loans. The increasing adoption of securitisation techniques since the 1990s, however, has gradually changed that. Today, ...
Special Supplement: European Mortgages - Hunt For Diverse Funding Base - As A Result Of Home Ownership Demands From A Burgeoning Middle Class, Banks In Central And Eastern Europe Are Seeking New Sources Of Mortgage Financing - And US And European Asset-ba.
Nov 01, 2005 ... Mortgage lending is on the increase across central and eastern Europe, and there is fierce competition in the banking sector to offer a wider variety of mortgage products to the fast growing middle class. In response to a general recognition that the overall poor state of ...
Special Supplement: European Mortgages - Without Frontiers - The European Commission Wants To Boost Efficiency In The Mortgage Market By Creating A Single European Market For The Sector. But Care Needs To Be Taken In Establishing Such A Market, Which Must.(Industry Overview)
Nov 01, 2005 ... Any industry that has experienced a doubling in the size of its market in the past decade while the cost of its products halved might feel aggrieved to be singled out as a sector in which efficiency improvements could be made. Yet this is the case for Europe's mortgage industry, which the ...