Italy
Credit data: default risk still growing for Italy’s banks
Despite a drop in the bad loan ratio, default estimates continue to rise, writes David Carruthers of Credit Benchmark
Swaps data: anatomy of a wild week in dollar swaps
Chaotic Italian politics jolted rates markets – including US dollar interest rate swaps, writes Amir Khwaja of Clarus FT
Italian banks hardest hit by IFRS 9 transition
Risk Quantum analysis of 36 banks from 11 European Union countries found that capital declined on average by 34bp between December 31, 2017, and March 31, 2018
EU Council aims to limit bail-in debt rules
Leaked BRRD text reveals all Greek and Portuguese banks could escape subordinated debt regime
Only 1% of bonds caught in first wave of Mifid transparency
Trax estimates 5% of corporate bonds will be subject to full transparency after four-year phase-in
MTF bilateral trading protocol offers Mifid arbitrage
Nordic banks to use protocol to benefit from longer deferral period
No safety net: EU urged to accelerate bail-in buffers
Without MREL or TLAC, governments are at mercy of private buyers for failed banks
Dexia official acquitted of alleged swaps fraud in Italy
City of Prato likely to appeal despite perjury claims
Dexia faces fraud charges over ‘hidden costs’ in swaps deal
Italian fraud trial could spell trouble for other banks providing municipal swaps contracts
People: CFTC picks enforcement and legislative affairs chiefs
Other changes at Eni, Societe Generale, Danske Commodities, Glencore, Global Coal, Six plus more
Draghi’s euro-exit redenomination hedge
Marcello Minenna says new ECB policy effectively hedges QE bond purchases
Financial distress pre-warning indicators: a case study on Italian listed companies
This paper focuses on the ability of accounting ratios to predict the financial distress status of a firm as defined by the law.
Hedge funds seeking cheap hedges for Italian referendum
Buy side turning to Brexit-inspired hedges for political tail risk
Capital hawks advocate bail-in flexibility for Italy
As stress-test results loom, experts say tackling legacy loans should take priority over bail-in purity
Doomed loop: Europe gets creative on sovereign bond risks
Political and prudential risks in huge bond-holdings force experts to consider new ideas
After Milan: how Italian law treats muni swaps
Dealers in Italy run risk of “unpredictable legal conflicts”, warn lawyers at Norton Rose
Italian dealers hope tide will turn after tricky 2015
Risk Italia Rankings 2015
Best in Italy: BNP Paribas
Co-operation with financial regulator on new rules wins acclaim
Q&A: Italy's structured products body on complexity crackdown
Acepi chair Dario Savoia talks Consob, Priips and complex products
Obsession with competition isn't healthy for exchanges
Market operators should focus on customer needs
Southern Europe securitisation markets thrown lifeline in EC plan
New rules ease treatment of ABS from countries with low credit ratings
Italian swaps scrap grips Europe
Dexia Crediop wins right to appeal against Italian city of Prato over €6.5 million swap claim
Bank of Italy chief sees legal risk in senior bonds bail-in
Banks should inform savers about senior bonds’ place in resolution hierarchy