This report provides an update on financial capital instruments, focusing on bank and insurance hybrid and subordinated debt. It includes market views, new issue details, and hold-to-maturity recommendations across multiple currencies.
Key Takeaways
- 1.Subordinated bond spreads were mixed but broadly stable, influenced by easing geopolitical tensions.
- 2.The ECB is considering increasing the share of unremunerated minimum reserves from 1% to 2%, which could impact excess liquidity.
Table of Contents
- Highlighted research
- Highlighted education notes
- Current view on Financial capital
- Recent new issues
- Attractive rated USD bonds
- Attractive rated EUR bonds
- Hold-to-maturity recommendations USD bonds
- Hold-to-maturity recommendations EUR bonds
- Hold-to-maturity recommendations GBP bonds
- Hold-to-maturity recommendations CHF bonds
- Changes to bond recommendations
- RT1 bonds overview
- Hybrid bonds overview
- Dated Tier 2 bonds overview
- Issuers mentioned in this report
- Introduction to Financial Capital
- Methodology
- Abbreviations and definitions
- 12 month rating history
- Risk Information
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Authors
Elena GuglielminSebastian PetrichClaudia SiglLidia Casini
Securities
QBE.AX
Themes
Bank Regulatory CapitalSolvency II/Basel 3 Frameworks
Regions
GlobalEuropeUnited StatesUK