Risk Quantum/Natixis
Natixis defers €120 million of trade profits in H1
French bank builds valuation reserve by 41% year-on-year
Natixis's VAR returns to earth after sale of autocallables
Average value-at-risk falls 35% from Q4 2018 high
US branches of foreign banks shed $91 billion of reserves in 2018
Drop-off coincides with Fed’s ‘normalisation’ strategy
VAR surges, revenues tank at French banks hurt by volatility
Revenues decline €1.2 billion at big four banks' trading arms
Societe Generale defers €1.35 billion of trade profits
French dealer holds back far more than rival dealers