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Bank Capital Roundtable 2012

The future of capital securities doesn’t lie in the hands of either regulators or investment bankers. At IFR’s Bank Capital Roundtable on June 21 in London, one of the many themes that came out of the discussion was that investors will define the future of this asset class. Regulators have spent the years since the global financial crisis defining, refining and redefining the optimum bank capital adequacy framework and have broadly laid out the features they want to see in capital instruments.

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Bank Capital Roundtable 2012: Participants

To view the digital version, please click here. Marc Tempelman Bank of America Merrill Lynch Marc Tempelman is a managing director at Bank of America Merrill Lynch and heads the EMEA Financial Institutions Group in debt capital markets. He has been with BofA Merrill since 1997, when he joined Merrill Lynch’s FIG DCM in London as an associate. After a two year secondment in New York, as co-head of the Capital Markets & Financing group for Financial Institutions (Americas), Tempelman relocated to London in 2009 to assume his current...

Bank Capital Roundtable 2012: Part 1

To view the digital version, please click here. Keith Mullin, IFR: Good morning and welcome to this IFR Roundtable on Bank Capital. There’s a lot going on in this area, whether it’s resolution frameworks, crisis management and capital requirements directives or other reform initiatives. And it’s undoubtedly one of the single biggest issues that needs to be resolved if we’re to move away from the negative feedback loop between sovereigns and banks. David, can you make some opening comments as to how you see the issues facing the bank capital...

Bank Capital Roundtable 2012: Part 2

To view the digital version, please click here. IFR: Can you expand on the point about this new class of investor comfortable with the new class of instruments. Who are these people and what does the instrument look like? Oliver Sedgwick, Goldman Sachs: If you roll the clock back to 1999/2000, when Tier 1 started, it was a yield enhancement product and the private banks were the biggest buyer of it across Europe and Asia. That bid is still evident. It’s definitely stronger in Asia than it is in Europe hence why dollars have been the resort...

Bank Capital Roundtable 2012: Part 3

To view the digital version, please click here. IFR: Yes. So Steve, do you support that notion that ultimately it’s all about the price? Steve Sahara, Credit Agricole CIB: Well, I guess I said earlier that some of the issues of black box which have been coming out in different forms: people have explained what might be in the box. I said I was longer-term optimistic and agree that with stability and greater transparency, people can evaluate what they want to invest in. And perhaps investors, who can view a simple bank that’s more utility-like...