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Fed jitters dampen trading of Nordea's new CoCo bonds NEW YORK: Jitters about the Federal Open Market Committee (FOMC) meeting Wednesday put a damper on trading in Nordea Bank's debut Yankee CoCo bonds just a day after the US$1.5 trade was heralded as a well-executed transaction.Some market participants said that the bonds would be trading at higher dollar price levels if anxiety about the Fed was not running so high. "I think you have people worried about what the Fed is going to say later today," said a head of debt capital markets Financial Institutions Group (FIG) coverage not involved with the Nordea trade."That's having an effect on CoCos and the trading levels of Nordea, because you would expect that, with a US$10bn book, that both tranches would be trading a bit higher."The Nordea US$1bn 5.5 percent perpetual non-call five-year with a 2019 call date was bid at US$99.90, and offered at par.Meanwhile the US$500m 6.125 percent perpetual non-call ...

Bank of England remains split over rate call: minutes LONDON: The Bank of England was split once again earlier this month over the need to lift record-low interest rates, minutes showed on Wednesday.The bank's nine-member monetary policy committee (MPC) voted 7-2 in favour of keeping its key lending rate at 0.50 percent at its September meeting, repeating the voting pattern from August.For the second month, policymakers Ian McCafferty and Martin Weale both voted for a rise to 0.75 percent, citing potential inflationary pressures.However, the ...
Turkish central bank opens 1bn lira repo auction ISTANBUL: The Turkish central bank on Wednesday opened a one-week, fixed-rate repo auction with a volume of 1 billion lira ($453 million), bank data showed. The repo matures on Sept. 24.Copyright Reuters, 2014 ...
Thai central bank holds key rate at 2.0pc to aid recovery BANGKOK: Following is a statement from Thailand's central bank after it left its benchmark one-day repurchase rate unchanged at 2.0 percent for a fourth straight meeting on Wednesday, as expected. The army took power on May 22 in a bid to restore order and get the economy going after prolonged political unrest. TEXT: Mathee Supapongse, secretary of the Monetary Policy Committee (MPC), announced the outcome of the meeting on Sept. 17 as follows: The global ...
China central bank injects $81bn into major banks to support economy SHANGHAI: China's central bank is injecting a combined 500 billion yuan ($81.35 billion) of liquidity into the country's top banks in moves to support a slowing economy, the Wall Street Journal reported, sending benchmark money market rate sharply lower on Wednesday. The Journal, citing an unnamed Chinese bank executive, said the People's Bank of China (PBOC) is pumping in 100 billion yuan each into China's top five banks via standard lending facility. The benchmark seven-day ...
Russia's central bank starts overnight forex swap operations with banks MOSCOW: The Russian Central Bank said on Tuesday it was starting overnight rouble-dollar swap operations to increase short-term banking sector liquidity.Several waves of sanctions from the United States and the European Union against Moscow for its involvement in the Ukraine crisis have limited access to foreign capital for Russia's largest banks and key oil companies.In July, the bank said it was ready to provide liquidity to lenders hit by Western sanctions if they face additional ...
GM to boost output of mid-sized pickups in US, add jobs DETROIT: General Motors Co will add a third shift and 750 jobs at its Missouri assembly plant to build more of its new mid-sized pickup trucks, the No. 1 U.S. automaker said on Tuesday.With early orders for the Chevrolet Colorado and GMC Canyon at nearly 30,000, GM decided to add the third shift at the Wentzville plant to meet expected demand. The additional shift at the plant, which also builds full-size vans, is expected to ...

 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln