Hypo Alpe-Adria-Bank International AG, Austria’s most costly bank failure, pushed up bad debt charges and writedowns as it found “skeletons in the closet” while speeding up its dismantling under European Union orders.
Banks identified as systemically important to the global economy face tighter rules on how much business they can do with each other as part of a push to limit the chance a single failure would drag down multiple lenders.
Catalyst Capital Group Inc., a Toronto-based private-equity firm, raised C$252 million ($230 million) in an initial public offering of its Callidus Capital Corp. unit, 44 percent more than it expected, according to a person familiar with the transaction.
New rules aimed at making the world safer from blowups in the $693 trillion derivatives market are poised to drive up costs so much for retirement funds and other users that bankers say they do just the opposite.
Sweden’s government said it won’t criticize banks for ladling out bigger cash rewards to shareholders while warning the industry to gird for tighter rules that will limit the scope for future dividends.
Banks pulling out of commodity trading because of rules on proprietary investing and capital requirements are pushing raw-material trade into less regulated and more opaque territory, investor Eric Schreiber said.