Banks
ING hit by €92m XVA loss
Credit trading business tagged for trading losses
UK banks eye Pillar 2 savings after PRA intervention
Top lenders could free £4.4 billion of capital
Capital overhaul depresses Crédit Agricole’s solvency ratio
Wind down of “Switch” mechanism may have come at a bad time for the French lender
Crédit Agricole, Natixis, UniCredit pummelled by XVA losses
Top banks take combined €207 million hit from valuation adjustments
BNP incurs nine VAR breaches in Q1
Market RWAs jump 37% to €26 billion
New securitisation rules weigh on UK banks
HSBC sees capital charge increase 41% quarter-on-quarter
NatWest Markets’ CVA reserve swells £136m
Funding benefit and debit valuation adjustment help offset derivatives charge
UK banks put £7.6bn aside for credit losses in Q1
Impairment charges were roughly double aggregate net profits at top lenders
BBVA trims capital target following ECB relief measures
Spanish lender targets 225-275bp CET1 management buffer
SocGen’s trading VAR unmoved by wild markets
Though market RWAs soared, VAR dipped 7% quarter-on-quarter
Bleak macro view pushes Lloyds’ ECL over £5bn
Anticipated loan losses for commercial loans up 39% on end-2019
PRA relief blunts market risk surge at Barclays, StanChart
Without temporary measures, market RWAs would have been 18% higher at StanChart
Deutsche Bank liquidity buffer shrinks €17bn
Clients’ clamour for cash forces bank to monetise liquidity pool
CVA, market RWAs more than double at UBS in Q1
Overall risk-weighted assets increased 10% on end-2019
Covid relief frees €4.9bn of capital at Santander
Bank sees CET1 buffer climb to 272bp
XVAs take $346m bite out of HSBC’s trading profits
Derivatives valuation adjustment impact pushes trading profits down 49%
Short-dated sterling swap volumes surge
On April 22, traded volumes were four times the two-year average
US regional banks put $18bn aside for credit losses in Q1
Huntington, Citizens, Truist saw provisions increase over 400% on Q4 2019
Capital One triples loss allowances for oil and gas loans
Loss reserves up to almost 10% of total exposure
Credit Suisse takes $51m derivatives hedging loss
Net trading revenues down 47% on year-ago quarter
Finma relief unlocks $90bn of leverage exposure at Credit Suisse
Central bank deposit carve-out is intended to support lending
EU market risk relief targets VAR measures
Dealers with a large percentage of their total capital set using value-at-risk stand to benefit most
US banks’ leverage soared in Q1 before Fed’s reprieve
JP Morgan alone saw leverage exposure climb $112 billion
Covid loan losses exceed 2019 CCAR projections
CECL accounting likely responsible for discrepancy