bosmeld
Forumer storico
io ho questa XS0201306288 irs + 0,10 bps si prende a 33.
no loss absorbtion, non cumulativa. quota senza rateo.
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (4 lettori)
- Creatore Discussione negusneg
- Data di Inizio
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- Tags
- additional tier 1 bail in basilea 3 coco bonds crd iv genussscheine grandfathering hybrid bond loss absorption lower tier 2 make whole amount matusalem bond obbligazioni irredimibili obbligazioni perpetue obbligazioni subordinate perpetual bond preference shares restricted tier 1 tier 1 upper tier 2
- Stato
io ho questa XS0201306288 irs + 0,10 bps si prende a 33.
no loss absorbtion, non cumulativa. quota senza rateo.
discipline
Forumer storico
XS0359924643 lettera 54 circa, cedola (sospesa) 10%. clausola di loss abs. da prospetto
XS0201306288 lettera 33 circa, cedola (sospesa) cms 10y + 0,1
bosmeld
Forumer storico
oevag
prendo info da un amico che le ha postate sull'altro forum
"I potenziali acquirenti hanno già manifestato il proprio interesse," ha dichiarato il CEO Gerald Wenzel questa sera in una dichiarazione alla APA. Conferme sui russi di Sberbank, rimangono le popolari francesi e le controllate dell'europa orientale.
Nuovo piano quinquennale approvato.
"Valuteremo con attenzione le offerte per ottenere il miglior risultato."
La strategia adottata dal Consiglio di Sorveglianza 2015 è concentrarsi sul core business, "Ottimizzazione di rendimento e rischio", come è stato detto oggi.
Neuer Fünfjahresplan beschlossen - Vorstandsmitglied für weitere drei Jahre bestätigt
col traduttore google non si capisce molto. mi sembra cmq che non ci sia un nulla di fatto per l'aumento di capitale.
buona questa parte qui
A special value (capital gain) from sale of a significant shareholding thus accruing the Bank in the first quarter of 2011 from the sale of € Polis Realty Group to the CA Immo .
si aspettano un capital gain dalla vendita nel 1 trimestre del 2011 di Europolis che verrá venduta per 272 milioni. devo capire a quanto ammonterá il capital gain.
nei giorni prossimi bisognerá approfondire la faccenda.
prendo info da un amico che le ha postate sull'altro forum
"I potenziali acquirenti hanno già manifestato il proprio interesse," ha dichiarato il CEO Gerald Wenzel questa sera in una dichiarazione alla APA. Conferme sui russi di Sberbank, rimangono le popolari francesi e le controllate dell'europa orientale.
Nuovo piano quinquennale approvato.
"Valuteremo con attenzione le offerte per ottenere il miglior risultato."
La strategia adottata dal Consiglio di Sorveglianza 2015 è concentrarsi sul core business, "Ottimizzazione di rendimento e rischio", come è stato detto oggi.
Neuer Fünfjahresplan beschlossen - Vorstandsmitglied für weitere drei Jahre bestätigt
col traduttore google non si capisce molto. mi sembra cmq che non ci sia un nulla di fatto per l'aumento di capitale.
buona questa parte qui
A special value (capital gain) from sale of a significant shareholding thus accruing the Bank in the first quarter of 2011 from the sale of € Polis Realty Group to the CA Immo .
Das Closing findet erst Anfang 2011 statt, deshalb wird dieser minimale Sondererlös erst Frühjahr verbucht.
The deal will only take place in early 2011, therefore this special minimum revenue recorded for the first spring. si aspettano un capital gain dalla vendita nel 1 trimestre del 2011 di Europolis che verrá venduta per 272 milioni. devo capire a quanto ammonterá il capital gain.
nei giorni prossimi bisognerá approfondire la faccenda.
Omero
Forumer storico
Grazie mille bossssvado ad aggiornare.
Se ordinate il file excel in base alla colonna "Call" ora c'è un quadro completo delle call esercitate (o meno) a tutt'oggi.
Grazie per gli isin Bos e Negus !!
presa ieri Casino irs10a+1% a 62
Zorba
Bos 4 Mod
Adesso mi è venuto in mente
Le Ovag IRS avrebbero un prospetto molto friendly, vale a dire se hanno riserve distribuibili, devono pagare i coupon. Se non ricordo male, per effetto dell'Accordo con il governo, non possono utilizzare le riserve pregresse per pagare i coupon, ma solo utili d'esercizio.Certo che se Ovag facesse un AUK e vendesse VBI, ripagasse gli aiuti di stato, le Ovag IRS non sarebbero per nulla male.
Il problema con Ovag è che si affrettano sempre ad annunciare operazioni, ma poi alla fine concludono poco...
solenoide
Forumer storico
Vet
Forumer storico
Da come e' messa mps dubito che riescano a callarla a febbraio
Zorba
Bos 4 Mod
Sono anche uscite le regole (definitive?) di Basel III. Da studiare benissimo.
Basel III: A global regulatory framework for more resilient banks and banking systems
Ho scorso le nuove regole di Basel III, ma alla fine sono andato direttamente al dessert
: il grand-fathering. *.*.*.*
Capital instruments that no longer qualify as non-common equity Tier 1 capital or Tier 2 capital will be phased out beginning 1 January 2013. Fixing the base at the nominal amount of such instruments outstanding on 1 January 2013, their recognition will be capped at 90% from 1 January 2013, with the cap reducing by 10 percentage points in each subsequent year. This cap will be applied to Additional Tier 1 and Tier 2 separately and refers to the total amount of instruments outstanding that no longer meet the relevant entry criteria. To the extent an instrument is redeemed, or its recognition in capital is amortised, after 1 January 2013, the nominal amount serving as the base is not reduced. In addition, instruments with an incentive to be redeemed will be treated as follows:
– For an instrument that has a call and a step-up prior to 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward-looking basis will meet the new criteria for inclusion in Tier 1 or Tier 2, it will continue to be recognised in that tier of capital.
– For an instrument that has a call and a step-up on or after 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward looking basis will meet the new criteria for inclusion in Tier 1 or Tier 2, it will continue to be recognised in that tier of capital. Prior to the effective maturity date, the instrument would be considered an “instrument that no longer qualifies as Additional Tier 1 or Tier 2” and will therefore be phased out from 1 January 2013.
– For an instrument that has a call and a step-up between 12 September 2010 and 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward looking basis does not meet the new criteria for inclusion in Tier 1 or Tier 2, it will be fully derecognised in that tier of regulatory capital from 1 January 2013.
– For an instrument that has a call and a step-up on or after 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward looking basis does not meet the new criteria for inclusion in Tier 1 or Tier 2, it will be derecognised in that tier of regulatory capital from the effective maturity date. Prior to the effective maturity date, the instrument would be considered an “instrument that no longer qualifies as Additional Tier 1 or Tier 2” and will therefore be phased out from 1 January 2013.
– For an instrument that had a call and a step-up on or prior to 12 September 2010 (or another incentive to be redeemed), if the instrument was not called at its effective maturity date and on a forward looking basis does not meet the new criteria for inclusion in Tier 1 or Tier 2, it will be considered an “instrument that no longer qualifies as Additional Tier 1 or Tier 2” and will therefore be phased out from 1 January 2013.
Only those instruments issued before 12 September 2010 qualify for the above transition arrangements.
*.*.*.*.*
Salvo aggiustamenti di tiro minori, mi sembra confermato quanto detto in precedenza
E' confermato la perdita di qualifica come T1 degli step up, alla prima call. Per me diventano interessanti Bawag TV, le Dexia di Bos, le RZB 862, insomma tutte le emissioni step up con call vicina.
Confermato che con il 31/12/2021 gli attuali T1 non saranno più considerati tali, per cui ipotizzando un incremento dei tassi, le IRS10 mi sembrano un gran bel comprare.
bosmeld
Forumer storico
Ho scorso le nuove regole di Basel III, ma alla fine sono andato direttamente al dessert
*.*.*.*
Capital instruments that no longer qualify as non-common equity Tier 1 capital or Tier 2 capital will be phased out beginning 1 January 2013. Fixing the base at the nominal amount of such instruments outstanding on 1 January 2013, their recognition will be capped at 90% from 1 January 2013, with the cap reducing by 10 percentage points in each subsequent year. This cap will be applied to Additional Tier 1 and Tier 2 separately and refers to the total amount of instruments outstanding that no longer meet the relevant entry criteria. To the extent an instrument is redeemed, or its recognition in capital is amortised, after 1 January 2013, the nominal amount serving as the base is not reduced. In addition, instruments with an incentive to be redeemed will be treated as follows:
– For an instrument that has a call and a step-up prior to 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward-looking basis will meet the new criteria for inclusion in Tier 1 or Tier 2, it will continue to be recognised in that tier of capital.
– For an instrument that has a call and a step-up on or after 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward looking basis will meet the new criteria for inclusion in Tier 1 or Tier 2, it will continue to be recognised in that tier of capital. Prior to the effective maturity date, the instrument would be considered an “instrument that no longer qualifies as Additional Tier 1 or Tier 2” and will therefore be phased out from 1 January 2013.
– For an instrument that has a call and a step-up between 12 September 2010 and 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward looking basis does not meet the new criteria for inclusion in Tier 1 or Tier 2, it will be fully derecognised in that tier of regulatory capital from 1 January 2013.
– For an instrument that has a call and a step-up on or after 1 January 2013 (or another incentive to be redeemed), if the instrument is not called at its effective maturity date and on a forward looking basis does not meet the new criteria for inclusion in Tier 1 or Tier 2, it will be derecognised in that tier of regulatory capital from the effective maturity date. Prior to the effective maturity date, the instrument would be considered an “instrument that no longer qualifies as Additional Tier 1 or Tier 2” and will therefore be phased out from 1 January 2013.
– For an instrument that had a call and a step-up on or prior to 12 September 2010 (or another incentive to be redeemed), if the instrument was not called at its effective maturity date and on a forward looking basis does not meet the new criteria for inclusion in Tier 1 or Tier 2, it will be considered an “instrument that no longer qualifies as Additional Tier 1 or Tier 2” and will therefore be phased out from 1 January 2013.
Only those instruments issued before 12 September 2010 qualify for the above transition arrangements.
*.*.*.*.*
Salvo aggiustamenti di tiro minori, mi sembra confermato quanto detto in precedenza
E' confermato la perdita di qualifica come T1 degli step up, alla prima call. Per me diventano interessanti Bawag TV, le Dexia di Bos, le RZB 862, insomma tutte le emissioni step up con call vicina.
Confermato che con il 31/12/2021 gli attuali T1 non saranno più considerati tali, per cui ipotizzando un incremento dei tassi, le IRS10 mi sembrano un gran bel comprare.
mui bien
a questo punto dobbiamo dare un occhiata ai titoli che meglio possono avvantaggiarsi da queste regole.
su dexia, io lo dico da tempo che per me la callano al 2015
anche la bawag euribor é molto interessante, nel 2013 bye bye. non la possono piú contabilizzare nel capitale.
parlando alle distressed. penso a eurohypo e oevag tasso fisso, sono entrambe step-up..... in particolare eurohypo ha la call proprio nel 2013
- Stato