gualberto
Charlie don't Surf
perchè hai preso questa e non la 364? costa meno?
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 2
- Creatore Discussione caligola2005
- Data di Inizio
- Stato
perchè hai preso questa e non la 364? costa meno?
Topgun1976
Guest
Oltre al costo ,per la reattività molto migliore rispetto alla 364
Un pò come tra la Barc 199 e l'altra...non cè paragone quanto a reattività
Rottweiler
Forumer storico
L'Italia sembra essere rimasto l'unico territorio extra-francese strategico per Groupama:
Groupama au diapason des tifosi
Par VITTORIA DE BAGNOLO - Publié le 27 août 2012, à 14h 07
Groupama Assicurazioni, première filiale de Groupama dans le monde, confirme sa place de "Top Sponsor" dans la serie A de la saison de foot en Italie, auprès des équipes de Gênes et Lazio (Rome). Ce partenariat vise à rendre la compagnie plus proches de ses 1,8 millions de clients transalpins et de son milliers d'agents. Les clients se verront proposer des invitations aux matchs, l'accès aux joueurs avant les parties et la participation aux évènements des deux clubs.
Groupama au diapason des tifosi
Par VITTORIA DE BAGNOLO - Publié le 27 août 2012, à 14h 07
Groupama Assicurazioni, première filiale de Groupama dans le monde, confirme sa place de "Top Sponsor" dans la serie A de la saison de foot en Italie, auprès des équipes de Gênes et Lazio (Rome). Ce partenariat vise à rendre la compagnie plus proches de ses 1,8 millions de clients transalpins et de son milliers d'agents. Les clients se verront proposer des invitations aux matchs, l'accès aux joueurs avant les parties et la participation aux évènements des deux clubs.
Peco
Forumer storico
EMPORIKI: SARA' CEDUTA DOPO RICAPITALIZZAZIONE DA PARTE DI CREDIT AGRICOLE (DJ)
ATENE (MF-DJ)--Il fondo di salvataggio delle banche greche ha informato
i creditori interessati all'acquisizione di Emporiki Bank of Greece,
divisione della francese Credit Agricole, sulla necessita' di
ricapitalizzare Emporiki prima di procedere all'accordo di cessione.
Ô quanto rivelano due funzionari a Dowjones Newswires, senza fornire
dettagli finanziari sulla ricapitalizzazione.
L'Hfsf e la Bank of Greece, banca centrale del Paese, hanno avanzato
questa richiesta alle tre banche che stanno considerando l'acquisto di
Emporiki: Eurobank, National Bank e Alpha Bank.
red/est/ria
Rottweiler
Forumer storico
Grandi manovre prima di Jackson Hole...
Aug 27 (Reuters) - The U.S. Federal Reserve should launch a fresh round of monetary stimulus immediately, buying bonds for as long as it takes to produce a steady decline in the jobless rate, a top Fed official said on Monday.
"I don't think we should be in a mode where we are waiting to see what the next few data releases bring," Chicago Federal Reserve Bank President Charles Evans said in remarks prepared for delivery at the Hong Kong Bankers Club. "We are well past the threshold for additional action; we should take that action now."
The U.S. central bank on Aug. 1 kept U.S. monetary policy on hold, leaving interest rates at zero and reiterating the view that economic conditions will warrant keeping them there until at least late 2014.
Many policymakers thought more stimulus would be needed "fairly soon," the minutes of the meeting show, but wanted to watch the data for signs of improvement that would render moot the need for additional easing.
Evans wants no part of that wait-and-see approach.
Like the chiefs of the Fed's regional banks in Boston and San Francisco, Evans sees a case for doing now what the Fed has done only two times before -- buy long-term bonds in an effort to lower long-term borrowing costs.
Evans said he supports an open-ended bond-buying program, an approach that appears to be gaining converts at the U.S. central bank.
The Fed could stop buying bonds after two or three quarters of steady declines in the jobless rate, Evans said, but then should continue to keep rates near zero until the jobless rate -- now 8.3 percent -- falls to 7 percent.
Only in the unlikely event that inflation threatens to rise above 3 percent should the Fed change course, he said.
The Fed has bought $2.3 trillion of long-term securities since the Great Recession in an effort to push down borrowing costs and boost the recovery. Any new bond-buying should focus on housing-backed bonds, Evans said.
Some policymakers, like Dallas Fed President Richard Fisher, worry that piling on more bond purchases will do little to help the economy and could make the Fed's eventual exit from easy-money policy more difficult. Other Fed hawks fret that letting inflation rise even a little could open the door to massive, uncontrolled price rises.
Evans sees the possibility that if unemployment remains too high for too long it could permanently sap the U.S. economy's underlying strength, which is much more worrisome than the prospect of temporarily higher inflation.
"Clear and steady progress toward stronger growth is essential," said the Chicago Fed chief, who will have a vote next year on the Fed's policy-setting panel. "Because we are not seeing that now, I support further use of our balance sheet to provide even more monetary accommodation."
Evans, in his remarks to a seminar run by Deutsche Boerse AG's MNI news agency, said he expects inflation to stay at or below the Fed's 2 percent target in the medium term, even as unemployment stays well above the historical norm.
The Fed should be willing to let inflation rise above the 2 percent target if doing so can help on the employment front, he said, but it should also be clear about how much of a deviation it would tolerate.
The Fed next meets in mid-September, but markets may get a better read on the likelihood of a new round of quantitative easing as soon as this week, when Fed Chairman Ben Bernanke speaks at the Kansas City Fed's annual gathering of policymakers in Jackson Hole, Wyoming.
It was at Jackson Hole in 2010 that Bernanke signaled that a second round of bond-buying was imminent.
Last year the Fed began a program known as Operation Twist, in which it sells short-term securities and buys long-term ones. The aim of the program, which the Fed in June extended through the end of the year, is to put downward pressure on longer-term rates.
"It is time to take even stronger steps," Evans said on Monday.
WORLD FOREX : Euro Ticks Higher on Hopes of Policy Easing
08/27/2012 | 06:35am US/Eastern
By Alexandra Fletcher
The euro made some small gains against most major currencies during European trading Monday as markets waited with baited breath for more monetary easing in the U.S. and the euro zone, but overall trading conditions in the currency markets were thinned as London traders were away due to a U.K. public holiday.
The euro breached $1.2530 against the dollar and ticked higher against the yen, Australian dollar and sterling with a lack of liquidity in the markets and an absence of fresh news drivers. Instead, market participants are looking ahead to Federal Reserve Chairman Ben Bernanke's policy speech at a symposium in Jackson Hole, Wyoming on Friday.
Investors are split over whether Mr. Bernanke will deliver what could be his closing argument in deliberations about launching a third round of bond-buying, or quantitative easing.
"While the Fed has indicated it is prepared to further ease policy if a 'substantial and sustainable strengthening in the pace of the economic recovery' fails to emerge, we think the odds are only 50/50 in terms of a QE3 announcement," said Adam Myers, senior market strategist at Credit Agricole in London.
"Given elevated market expectations of a Fed move, the euro's grind higher against the dollar now looks vulnerable to a correction lower this week," he added.
Hopes are also rising that the European Central Bank will employ a bond strategy at its next policy meeting on Sept. 6 to help beleaguered member states. Investors are looking to the ECB to buy up the sovereign debt of troubled member countries such as Spain and to also consider steps to keep government bond yields from rising too high.
These policy hopes overshadowed signs that the euro-zone's largest economy continues to weaken. German business confidence fell for the fourth straight month in August as companies saw both their current and future economic conditions deteriorating, according to the closely watched Ifo survey.
Elsewhere, the Swedish krona was sent higher against the euro as a rise in July Swedish retail sales figures provided another sign that the country's economy remains resilient to the financial crisis affecting many other European countries. The data helped the Swedish krona reverse a slide against the euro in early trading. The currency strengthened to SEK8.258 from SEK8.273 against the common currency after the retail data was published by the Swedish statistics agency.
At 1003 GMT, the euro was trading at $1.2520 against the dollar, compared with $1.2512 late Friday in New York, according to trading system EBS. The dollar was at Y78.86 against the yen, compared with Y78.70, while the euro was at Y98.53, compared with Y98.45. Meanwhile, the pound was trading at $1.5800 against the dollar, compared with $1.5807 late Friday in New York. The Wall Street Journal dollar index, which tracks the U.S. dollar against a basket of currencies, was at 71.045 from about 71.062.
Write to Alexandra Fletcher at [email protected]
Aug 27 (Reuters) - The U.S. Federal Reserve should launch a fresh round of monetary stimulus immediately, buying bonds for as long as it takes to produce a steady decline in the jobless rate, a top Fed official said on Monday.
"I don't think we should be in a mode where we are waiting to see what the next few data releases bring," Chicago Federal Reserve Bank President Charles Evans said in remarks prepared for delivery at the Hong Kong Bankers Club. "We are well past the threshold for additional action; we should take that action now."
The U.S. central bank on Aug. 1 kept U.S. monetary policy on hold, leaving interest rates at zero and reiterating the view that economic conditions will warrant keeping them there until at least late 2014.
Many policymakers thought more stimulus would be needed "fairly soon," the minutes of the meeting show, but wanted to watch the data for signs of improvement that would render moot the need for additional easing.
Evans wants no part of that wait-and-see approach.
Like the chiefs of the Fed's regional banks in Boston and San Francisco, Evans sees a case for doing now what the Fed has done only two times before -- buy long-term bonds in an effort to lower long-term borrowing costs.
Evans said he supports an open-ended bond-buying program, an approach that appears to be gaining converts at the U.S. central bank.
The Fed could stop buying bonds after two or three quarters of steady declines in the jobless rate, Evans said, but then should continue to keep rates near zero until the jobless rate -- now 8.3 percent -- falls to 7 percent.
Only in the unlikely event that inflation threatens to rise above 3 percent should the Fed change course, he said.
The Fed has bought $2.3 trillion of long-term securities since the Great Recession in an effort to push down borrowing costs and boost the recovery. Any new bond-buying should focus on housing-backed bonds, Evans said.
Some policymakers, like Dallas Fed President Richard Fisher, worry that piling on more bond purchases will do little to help the economy and could make the Fed's eventual exit from easy-money policy more difficult. Other Fed hawks fret that letting inflation rise even a little could open the door to massive, uncontrolled price rises.
Evans sees the possibility that if unemployment remains too high for too long it could permanently sap the U.S. economy's underlying strength, which is much more worrisome than the prospect of temporarily higher inflation.
"Clear and steady progress toward stronger growth is essential," said the Chicago Fed chief, who will have a vote next year on the Fed's policy-setting panel. "Because we are not seeing that now, I support further use of our balance sheet to provide even more monetary accommodation."
Evans, in his remarks to a seminar run by Deutsche Boerse AG's MNI news agency, said he expects inflation to stay at or below the Fed's 2 percent target in the medium term, even as unemployment stays well above the historical norm.
The Fed should be willing to let inflation rise above the 2 percent target if doing so can help on the employment front, he said, but it should also be clear about how much of a deviation it would tolerate.
The Fed next meets in mid-September, but markets may get a better read on the likelihood of a new round of quantitative easing as soon as this week, when Fed Chairman Ben Bernanke speaks at the Kansas City Fed's annual gathering of policymakers in Jackson Hole, Wyoming.
It was at Jackson Hole in 2010 that Bernanke signaled that a second round of bond-buying was imminent.
Last year the Fed began a program known as Operation Twist, in which it sells short-term securities and buys long-term ones. The aim of the program, which the Fed in June extended through the end of the year, is to put downward pressure on longer-term rates.
"It is time to take even stronger steps," Evans said on Monday.
WORLD FOREX : Euro Ticks Higher on Hopes of Policy Easing
08/27/2012 | 06:35am US/Eastern
By Alexandra Fletcher
The euro made some small gains against most major currencies during European trading Monday as markets waited with baited breath for more monetary easing in the U.S. and the euro zone, but overall trading conditions in the currency markets were thinned as London traders were away due to a U.K. public holiday.
The euro breached $1.2530 against the dollar and ticked higher against the yen, Australian dollar and sterling with a lack of liquidity in the markets and an absence of fresh news drivers. Instead, market participants are looking ahead to Federal Reserve Chairman Ben Bernanke's policy speech at a symposium in Jackson Hole, Wyoming on Friday.
Investors are split over whether Mr. Bernanke will deliver what could be his closing argument in deliberations about launching a third round of bond-buying, or quantitative easing.
"While the Fed has indicated it is prepared to further ease policy if a 'substantial and sustainable strengthening in the pace of the economic recovery' fails to emerge, we think the odds are only 50/50 in terms of a QE3 announcement," said Adam Myers, senior market strategist at Credit Agricole in London.
"Given elevated market expectations of a Fed move, the euro's grind higher against the dollar now looks vulnerable to a correction lower this week," he added.
Hopes are also rising that the European Central Bank will employ a bond strategy at its next policy meeting on Sept. 6 to help beleaguered member states. Investors are looking to the ECB to buy up the sovereign debt of troubled member countries such as Spain and to also consider steps to keep government bond yields from rising too high.
These policy hopes overshadowed signs that the euro-zone's largest economy continues to weaken. German business confidence fell for the fourth straight month in August as companies saw both their current and future economic conditions deteriorating, according to the closely watched Ifo survey.
Elsewhere, the Swedish krona was sent higher against the euro as a rise in July Swedish retail sales figures provided another sign that the country's economy remains resilient to the financial crisis affecting many other European countries. The data helped the Swedish krona reverse a slide against the euro in early trading. The currency strengthened to SEK8.258 from SEK8.273 against the common currency after the retail data was published by the Swedish statistics agency.
At 1003 GMT, the euro was trading at $1.2520 against the dollar, compared with $1.2512 late Friday in New York, according to trading system EBS. The dollar was at Y78.86 against the yen, compared with Y78.70, while the euro was at Y98.53, compared with Y98.45. Meanwhile, the pound was trading at $1.5800 against the dollar, compared with $1.5807 late Friday in New York. The Wall Street Journal dollar index, which tracks the U.S. dollar against a basket of currencies, was at 71.045 from about 71.062.
Write to Alexandra Fletcher at [email protected]
amorgos34
CHIAGNI & FOTTI SRL
non opano...(I.M.H.O.)
SNS Reaal Rises After $1.25 Billion Bond Sale: Amsterdam Mover
2012-08-27 10:23:02.439 GMT
By Maud van Gaal
Aug. 27 (Bloomberg) -- SNS Reaal NV, the Dutch bank and
insurer considering asset sales after losses on real estate
loans, rose the most in more than a week after selling 1 billion
euros ($1.25 billion) of five-year covered bonds.
The shares rose as much as 6.5 percent in Amsterdam, the
biggest intraday gain since Aug. 16, and were up 3.7 percent to
1.17 euros as of 12:06 p.m. SNS’s banking unit on Aug. 24 said
it placed 1 billion euros of covered bonds, due 2017, with a
coupon of 2.125 percent.
SNS Reaal, based in the Dutch city of Utrecht, has dropped
30 percent this year as it struggled to wind down a money-losing
property finance unit, maintain capital buffers and repay a 2008
bailout by the Dutch state. SNS is reviewing “strategic
restructuring scenarios, such as the sale of parts of our
business,” Chief Executive Officer Ronald Latenstein said on
Aug. 16. Goldman Sachs Group Inc. was hired as adviser.
“It is positive that they had access to the market, even
if it is at a higher cost than, for instance, ING Bank,” said
Jan Willem Weidema, an Amsterdam-based analyst at ABN Amro with
a hold recommendation on the stock. “Still, it is cheaper than
what they pay on a five-year deposit. This issue also helps
diversify their funding base.”
The bonds were placed with 167 investors mostly outside the
Netherlands, Bart Toering, managing director of SNS Financial
Markets in Amsterdam, said in an interview. German investors
accounted for about 40 percent, while U.K. and French investors
took up about 20 percent and 15 percent, respectively. Swiss
private banks accounted for 10 percent.
‘Relatively Safe’
“Investors are interested as Dutch covered bonds are
considered relatively safe assets,” Toering said. “The Dutch
central bank limits the percentage of assets Dutch financial
institutions can encumber. Moreover, the Netherlands is doing
relatively well within Europe. And in the case of SNS it helps
that we pay a higher spread than for instance ABN Amro or ING,
due to our lower rating.”
SNS Bank is rated Baa2 at Moody’s Investors Service after a
one-level cut on June 15. That compares to an A2 rating for
ING’s banking unit and ABN Amro Bank. Rabobank Nederland, the
biggest Dutch mortgage lender, is rated Aa2 at Moody’s. The
Netherlands, Europe’s fifth-biggest economy, is one among four
euro-area countries that has maintained an AAA rating.
With the bond sale, SNS has met its funding needs until at
least October 2013, Toering said.
“It is important for SNS to show we have access to several
markets, not only covered bonds,” he said. “We may do a
benchmark-size residential-mortgage-backed-securities
transaction in September or October of about 500 million
euros.”
Dutch newspaper Het Financieele Dagblad reported the
potential RMBS sale earlier today.
SNS Reaal received 750 million euros from the Netherlands
in 2008 and 500 million euros from Foundation Beheer SNS Reaal,
its largest shareholder. SNS sold shares in 2009 to help repay
250 million euros of aid, of which 185 million euros was
returned to the government.
SNS Reaal Rises After $1.25 Billion Bond Sale: Amsterdam Mover
2012-08-27 10:23:02.439 GMT
By Maud van Gaal
Aug. 27 (Bloomberg) -- SNS Reaal NV, the Dutch bank and
insurer considering asset sales after losses on real estate
loans, rose the most in more than a week after selling 1 billion
euros ($1.25 billion) of five-year covered bonds.
The shares rose as much as 6.5 percent in Amsterdam, the
biggest intraday gain since Aug. 16, and were up 3.7 percent to
1.17 euros as of 12:06 p.m. SNS’s banking unit on Aug. 24 said
it placed 1 billion euros of covered bonds, due 2017, with a
coupon of 2.125 percent.
SNS Reaal, based in the Dutch city of Utrecht, has dropped
30 percent this year as it struggled to wind down a money-losing
property finance unit, maintain capital buffers and repay a 2008
bailout by the Dutch state. SNS is reviewing “strategic
restructuring scenarios, such as the sale of parts of our
business,” Chief Executive Officer Ronald Latenstein said on
Aug. 16. Goldman Sachs Group Inc. was hired as adviser.
“It is positive that they had access to the market, even
if it is at a higher cost than, for instance, ING Bank,” said
Jan Willem Weidema, an Amsterdam-based analyst at ABN Amro with
a hold recommendation on the stock. “Still, it is cheaper than
what they pay on a five-year deposit. This issue also helps
diversify their funding base.”
The bonds were placed with 167 investors mostly outside the
Netherlands, Bart Toering, managing director of SNS Financial
Markets in Amsterdam, said in an interview. German investors
accounted for about 40 percent, while U.K. and French investors
took up about 20 percent and 15 percent, respectively. Swiss
private banks accounted for 10 percent.
‘Relatively Safe’
“Investors are interested as Dutch covered bonds are
considered relatively safe assets,” Toering said. “The Dutch
central bank limits the percentage of assets Dutch financial
institutions can encumber. Moreover, the Netherlands is doing
relatively well within Europe. And in the case of SNS it helps
that we pay a higher spread than for instance ABN Amro or ING,
due to our lower rating.”
SNS Bank is rated Baa2 at Moody’s Investors Service after a
one-level cut on June 15. That compares to an A2 rating for
ING’s banking unit and ABN Amro Bank. Rabobank Nederland, the
biggest Dutch mortgage lender, is rated Aa2 at Moody’s. The
Netherlands, Europe’s fifth-biggest economy, is one among four
euro-area countries that has maintained an AAA rating.
With the bond sale, SNS has met its funding needs until at
least October 2013, Toering said.
“It is important for SNS to show we have access to several
markets, not only covered bonds,” he said. “We may do a
benchmark-size residential-mortgage-backed-securities
transaction in September or October of about 500 million
euros.”
Dutch newspaper Het Financieele Dagblad reported the
potential RMBS sale earlier today.
SNS Reaal received 750 million euros from the Netherlands
in 2008 and 500 million euros from Foundation Beheer SNS Reaal,
its largest shareholder. SNS sold shares in 2009 to help repay
250 million euros of aid, of which 185 million euros was
returned to the government.
Ultima modifica:
Rottweiler
Forumer storico
Non solo noi che frequentiamo questo thread abbiamo idee alquanto diverse su SNS. Guardate qui alcune raccomandazioni (kopen=buy; verkopen=sell), con relativo TP:
7 aug Deutsche Bank verkopen 0,70
16 aug ABN AMRO houden geen koersdoel
16 aug ING Equity Research verkopen 0,50
16 aug KBC Securities kopen kopen 2,00
13 jul Rabo Securities verkopen 0,50
Ovviamente gli "ottimisti" avranno conferma che ING , Rabo e magari Deutsche sono pretendenti all'acquisto...
7 aug Deutsche Bank verkopen 0,70
16 aug ABN AMRO houden geen koersdoel
16 aug ING Equity Research verkopen 0,50
16 aug KBC Securities kopen kopen 2,00
13 jul Rabo Securities verkopen 0,50
Ovviamente gli "ottimisti" avranno conferma che ING , Rabo e magari Deutsche sono pretendenti all'acquisto...
capt.harlock
MENA IL CAMMELLO FAN CLUB
insolito monovolume di +di450k su euronext in bid a 77 per kbc747
Rottweiler
Forumer storico
Prospetto Delta Lloyd T2
Ho appena caricato il prospetto della recente emissione Delta Lloyd sul relativo 3D.
Ho appena caricato il prospetto della recente emissione Delta Lloyd sul relativo 3D.
- Stato
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