Banken in der Eurozone

Immobilien-Unternehmer Görner: "Erleben Krise, die alle zuvor in den Schatten stellt"
Der Vorsitzende der Görner Group, Christoph Görner, schlägt für die Immobilienbranche Alarm.
https://www.n-tv.de/mediathek/videos/wirtschaft/...ticle24114614.html  

Die Bankenkrise in den USA geht in die nächste Runde. Die Aktien von Pacwest geraten massiv unter Druck. Es drohen langfristige Schäden für den Finanzsektor und die US-Wirtschaft.
https://www.handelsblatt.com/finanzen/...zu-stoppen-ist/29141876.html
PacWest Bank shares fall 30% as crisis prompts customers to yank deposits
https://www.ariva.de/forum/pacwest-bankcorp-582562?page=3#jumppos77  

> https://www.ariva.de/forum/...er-eurozone-472954?page=317#jumppos7941

Hedge funds bet against Sweden’s real estate sector: Hedge funds have cranked up their bets against Sweden’s real estate sector as investors predict tough times ahead.
https://www.egi.co.uk/news/...bet-against-swedens-real-estate-sector/
Swedish real estate sector rattled as refinancing worries surface - Analysts highlight country’s exposure to rising interest rates
https://www.ft.com/content/97b03a7e-a70f-48a2-b048-332b53edccf3
Swedish Real Estate Is in a Hole — and Still Digging: A botched fundraising by one of Sweden’s most leveraged real estate firms could scarcely have come at a worse time for the European sector.
https://www.bloomberg.com/opinion/articles/...-hole-and-still-digging
SBB's housing spin-off Neobo has seen its share price halved since the listing on February 10, from SEK 16 down to around SEK 8.
https://nordicpropertynews.com/article/8410/...onvince-the-market-now
 

BOE Hikes By 25bps, Forecasts Higher Inflation And Warns Of More Tightening
https://www.zerohedge.com/markets/...lation-and-warns-more-tightening  

Money Market Fund Assets
https://www.isabelnet.com/money-market-fund-assets/  

„Verzweiflung ist unvorstellbar“: Immobilien werden zu Milliarden-Fallen

Doch seit die Notenbanken dem Geld wieder einen Preis gegeben haben und damit die Kreditkosten in die Höhe schnellten, hat das Wort Immobilie an Glanz verloren. Für die damit beschäftigten Konzerne ist die Immobilie plötzlich nur ein anderes Wort für Falle. Die Reportings aus den Vorstandsetagen lesen sich wie Unwetterwarnungen

https://www.focus.de/immobilien/...illiarden-fallen_id_193484835.html  

Fünf Banken-Probleme, die uns hellhörig machen sollten

Es ist wieder eine Zeit, wo uns die Verantwortlichen der großen Banken – sowie die von der Politik bestellten Bankenaufseher – nicht die volle Wahrheit sagen. Sie beruhigen. Sie wiegeln ab. Gegen die aufkommende Nervosität wollen Sie uns ein Beruhigungsmittel spritzen.

https://www.focus.de/finanzen/boerse/...sere-banken_id_193395409.html  

WDH/Rechnungshof: EZB muss Banken noch strenger kontrollieren
https://www.ariva.de/news/...f-ezb-muss-banken-noch-strenger-10677129  

Reform zur Bankenabwicklung und der Einlagensicherung - Banken warnen vor Ende des deutschen 3-Säulen-Bankensystems
https://finanzmarktwelt.de/...utschen-3-saeulen-bankensystems-270176/  

> https://www.ariva.de/forum/...er-eurozone-472954?page=318#jumppos7953

Swedish real estate group SBB secures cash with JM stake sale
SBB's shares are subject to more short-selling than any other Swedish stock, data from the country's financial regulator shows, with 19% of the total sold short as traders expect the company's value to decline.
https://www.reuters.com/markets/deals/...th-jm-stake-sale-2023-05-12/  

Audit finds holes in ECB's management of bank credit risk
https://www.reuters.com/markets/europe/...ank-credit-risk-2023-05-12/  

While headline inflation is likely to subside further, core inflation might prove sticky. Private household demand is still under pressure, despite strong inflation-related one-off payments. Corporate lending slows after a long boom. Overall, we expect only a shallow recovery for the rest of the year, so German GDP is likely to stagnate on average in 2023. Last but not least, we also update you on our recent thematic research on the German housing market, progress with the energy transition and the German position on the recent EU fiscal rules proposal.
https://www.dbresearch.de/PROD/RPS_DE-PROD/PROD0000000000527999.PDF  

Six major risks in BaFin’s focus 4
Risks arising from abrupt and significant increases in interest rates
Risks arising from corrections on the real estate markets
Risks arising from significant corrections on the international financial markets
Risks arising from defaults on loans to German companies
Risks arising from serious cyber attacks
Risks arising from inadequate money laundering prevention
https://www.bafin.de/SharedDocs/Downloads/EN/...blicationFile&v=7  

EU-Immobiliencrash: Die Blase platzt – Preise fallen um 40 Prozent
Es droht eine Pleitewelle, die auch die Bilanzen der Banken in Schieflage bringen wird.
https://de.investing.com/news/economy/...fallen-um-40-prozent-2403960  

JPMorgan-Strategen senken den Daumen für Euroland-Aktien:  Die Strategen von JPMorgan Chase & Co. rücken ab von der Bevorzugung von Aktien aus dem Euroraum
https://www.institutional-money.com/news/...r-euroland-aktien-224318/
Jüngste Umfragedaten der Europäischen Zentralbank zeigten, dass der Index für die Kreditnachfrage der Unternehmen auf -37,9 gefallen ist, den niedrigsten Wert seit 2008. In der Vergangenheit war dieser Indikator ein Hinweis auf die Richtung der realwirtschaftlichen Aktivität.
https://am.jpmorgan.com/de/de/asset-management/...s/the-weekly-brief/  

Lindner sieht EU-Pläne zu Bankenrettungen kritisch
Die EU hat sich zum Ziel gesetzt, dass Steuerzahler bei Bankpleiten nicht mehr haften. Der Finanzminister sieht das skeptisch: Deutschland habe funktionierende Sicherungssysteme.
https://www.handelsblatt.com/politik/deutschland/...ewsticker_1985586  

Banks dispute EBA’s new threshold for IRRBB test

Regulators have proposed doubling a threshold used for identifying which banks have loan and deposit books that are most at risk from changes in interest rates. But risk managers say the new threshold is still too low, and could result in excessive numbers of firms being deemed outliers.

https://www.risk.net/regulation/7956634/...w-threshold-for-irrbb-test  

   Proposal for a Directive amending the Bank Recovery and Resolution Directive (2014/59/EU) (BRRD).
https://ec.europa.eu/finance/docs/law/230418-proposal-brrd_en.pdf
   Proposal for a Regulation amending the Single Resolution Mechanism (SRM) Regulation ((EU) 806/2014).
https://ec.europa.eu/finance/docs/law/230418-proposal-srmr_en.pdf
   Proposal for a Directive amending the Deposit Guarantee Schemes Directive (2014/49/EU) (DGSD).
https://ec.europa.eu/finance/docs/law/230418-proposal-dgsd_en.pdf

The BRRD framework provides powers to (national) resolution authorities to resolve firms that are failing or likely to fail (FOLF).  

The primary external factors affecting ESMA this year are (i) the high concentration of time-critical deliverables under Digital operational resilience act (DORA) and Markets in crypto-assets (MiCA) Regulation; (ii) ongoing crisis management linked to the measures taken following the energy crisis and recent market volatility; and (iii) overall resource constraints.
https://www.esma.europa.eu/sites/default/files/...ritisation_2023.pdf  

Most shorted in Germany: nagarro se (6.82%)
https://www.ariva.de/forum/nagarro-se-572810?page=8#jumppos208  

Banks’ domestic sovereign exposures in the euro area ballooned during the financial and European debt crises but have markedly declined since then. Still, with 5% of total assets and 76% of capital, they remain considerable and a risk on bank balance sheets, especially in light of the general exemption from capital requirements and concentration limits. Risk parameters differ between national banking markets, and the home bias remains high, at around 80%, as banks hardly diversify into other euro-area debt. The cross-country differences make it difficult for policymakers to agree on a fully mutualized European Deposit Insurance Scheme and thus complete the Banking Union.
https://www.dbresearch.de/PROD/RPS_DE-PROD/...61B69CB3670515B8573E04A  

> https://www.ariva.de/forum/...er-eurozone-472954?page=318#jumppos7953
Finanzstabilität: Neue Warnsignale vom europäischen Immobilienmarkt – Schweden rückt in den Blickpunkt: In Schweden spitzt sich die Krise am Gewerbeimmobilienmarkt zu. Ein schlechtes Vorzeichen für den Rest Europas und für die Finanzstabilität.
https://www.handelsblatt.com/finanzen/...mmobilienmarkt/29148182.html
Bank Loans Commercial Real Estate Exposure
https://www.capitaliq.spglobal.com/articles/420324797.png  

Deutschland erlebt einen Immobilien-Crash, die Baubranche befinde sich in "Schockstarre", warnen Forscher. Und es ist noch reichlich Luft nach unten. Wie geht es weiter? Es ist noch reichlich Luft in der Blase.
https://www.manager-magazin.de/politik/...ca2a-4446-856d-1d900c2ab458  

European Commission presents legislative package on banking recovery and resolution: The main aim of the proposed amendments is to address a number of deficiencies that have been identified following a review of the framework and to improve the effectiveness of the resolution and deposit protection regimes for EU banks.Among other things, the Commission proposes the following amendments to the current regime:
Early intervention measures
Public interest assessment
Conditions for providing extraordinary public financial support
Depositor preference
Amendments related to the minimum requirement for own funds and eligible liabilities (MREL)
Use of DGS in resolution
Amendments to the SRMR
https://www.regulationtomorrow.com/eu/...ing-recovery-and-resolution/  

Has a Governmental Intervention Credit Event occurred with respect to Credit Suisse Group AG?

This potential DC question is currently pending DC consent and has not yet been accepted.  The potential question has been raised in respect of Subordinated Transactions that specify Credit Suisse Group AG as the Reference Entity and apply the Standard Reference Obligation at the Subordinated Level.

https://www.cdsdeterminationscommittees.org/cds/...t-suisse-group-ag/