Off the record
"Why not just give us one piece of paper saying banks can’t trade fixed income derivatives on a non-clearable basis?"
A bank CFO has a smart idea to rationalize thousands of pages of regulation
"Central bankers are bad at guidance. Even good central bankers"
Will governors Yellen and Carney take note of this former central banker’s guidance?
"Chauffeur-driven limo on stand-by and a lot of poncing around?"
A senior banker’s response when we asked why anyone would want to be chairman of a beleaguered, UK-based bank
"We’re all rather pleased with ourselves for already being Basle 3 compliant. But by 2019, we’ll have a whole new set of rules"
This bank CEO may be suffering from an increasingly common condition known as regulatory fatigue
"Giving a loan in the expectation of winning other business is like buying a lottery ticket"
In a capital-constrained world, this senior banker questions the economic wisdom of ‘relationship’ banking
"The only reason covenants are there in documentation is to allow banks to charge waiver fees"
One institutional investor knows how to lobby for cov-lite lending in Europe
"There was a time when you couldn’t mention securitization in daylight – now it is seen as a panacea for all of Europe’s problems. The regulators didn’t understand why they closed the ABS market after 2007 and now they don’t understand why they are trying to reopen it"
One European banker is losing patience with ECB’s securitization initiatives…
"I would prefer my pension fund to be in senior secured leveraged loans rather than SME loans… although actually I would rather it was in neither"
One loan market professional goes off message when discussing the growth in pension fund activity in the asset class
"Smart people can do very stupid things. That is the model on which this business is based"
M&A explained… by one banker
"People who own treasuries had better hope that ECB QE doesn’t work. If the euro starts appreciating this will become a very crowded carry trade"
That might be something that this investor doesn’t have to worry about just yet…