Only six of the 20 loans in European CMBS that were scheduled to refinance this year have been repaid or refinanced. Nine were modified and three were extended. Meanwhile, two thirds of the loans still fail bank lenders’ refinancing requirements.

Scope’s new structured finance rated volume grew by 17.4% in the year to June 2024. Monitoring reviews resulted in more upgrades than downgrades over the period, resulting in positive ratings drift for the first time since the third quarter of 2022.

Tuesday, October 15th 2024 - 3:00 PM (CEST)

UniCredit is pursuing a growth strategy to create a pan-European banking leader, but political resistance to cross-border consolidation remains strong.

July collections fell 24% month on month, broadly similar to the declines observed in the two previous years (30% in 2022, 32% in 2023). Volumes were also 24% below the average for the same month of the previous two years.

Spanish banks expect strong H2 results supported by higher-for longer interest rates and loan volumes recovering faster than expected. Asset quality continues to be strong so risks to profitability and organic capital generation are contained.

The recovery in net interest margins is taking longer than French banks initially anticipated, due to limited loan production and continuing migration of deposits to remunerated accounts, so improvements in cost efficiency are limited.

Efforts to address remaining items in the Covered Bond Directive continue. While the Directive has brought many benefits, there is still room for improvement, particularly for European Secured Notes, which could offer both banks and SMEs funding benefits.

Tuesday, October 15th 2024 - 3:00 PM (CEST)

Giving depositors preference in insolvency and harmonising national deposit guarantee schemes are among proposed steps to improve the process for dealing with failing banks. They also edge towards the goals of the European Deposit Insurance Scheme (EDIS).