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* Deutsche Bank AG
* The Portuguese government nominated its central bank deputy Governor Elisa Ferreira for a role at the European Commission, Reuters wrote, citing a spokesman for Prime Minister António Costa.
* Danish Financial Supervisory Authority Director General Jesper Berg told Bloomberg News that the banking industry is nearing a tipping point after years of negative interest rates and that European lenders will need to revise their business models or reduce their size to cope. Meanwhile, Erste Group Bank AG CEO Andreas Treichl said he believes that the low interest rate phase in Europe, which has lasted for almost 10 years, will continue for another 10 to 15 years, Der Standard wrote.
UK AND IRELAND
* A group of international banks, including Barclays PLC, Goldman Sachs Group Inc. and Morgan Stanley, were offered $1 billion tickets in a $13.5 billion bridge loan that will support London Stock Exchange Group PLC's $27 billion acquisition of financial data analytics platform Refinitiv, insiders told Reuters.
* Lloyds Banking Group PLC
* HSBC Holdings PLC said it will reduce fees and offer six-month interest rate rebates on loans to small- and medium-sized firms based in Hong Kong in an attempt to help boost the country's economy, which has been weighed down by the U.S.-China trade war, Reuters reported.
* The online websites of Royal Bank of Scotland Group PLC
GERMANY, SWITZERLAND AND AUSTRIA
* The offices of Deutsche Börse AG's Luxembourg-based unit Clearstream Banking SA
* Deutsche Bank restructured its treasury function by combining its market-facing and investment activities into an integrated treasury markets and investments team, to be led by François Jourdain. The German lender's group treasurer, Dixit Joshi, told the Financial Times that the firm has €246 billion in liquidity reserves and an additional €30 billion that can be used to invest in longer dated assets and to retire expensive liabilities.
* German fintech firm Raisin GmbH acquired retirement and pension savings company Fairr.de GmbH
* FinLeap GmbH plans to expand its activities beyond the business-to-business segment and will launch a comparison platform for insurance and banking products for consumers this year, Börsen-Zeitung wrote.
* Vienna Insurance Group AG
* Hypo Vorarlberg Bank AG lost its appeal at Austria's federal administrative court against financial market supervisory authority FMA's claim that the bank had neglected its due diligence obligations to prevent money laundering and terrorist financing after it appeared in the Panama Papers and required it to pay a €414,000 penalty, Die Presse reported.
* Bâloise Holding AG
* Swiss blockchain service provider Cryptix completed the acquisition of Liechtenstein-based digital asset exchange platform Blocktrade for an undisclosed sum, finews.com wrote. The deal will allow Cryptix to apply for a license as an investment firm in line with the second Markets in Financial Instruments Directive, or MiFID II, regulations.
FRANCE AND BENELUX
* French digital health insurance start-up Alan will expand into Spain and Belgium in 2020, and has a target of covering 100,000 people, up from 37,000 currently, Les Echos wrote.
*France is unlikely to see retail banks impose negative interest rates on clients as is proposed in Germany because the ratio of lending to deposits is around 110%, compared to 90% in Germany, meaning French banks have to keep customers in order to borrow cheaply, according to Les Echos.
* ING Groep NV is set to offer sustainable loans to SMEs in collaboration with the European Investment Bank, Het Financieele Dagblad reported. They have €400 million available for the loans.
SPAIN AND PORTUGAL
* Banco Bilbao Vizcaya Argentaria SA
ITALY AND GREECE
* Italy's ruling 5-Star Movement and the center-left Democratic Party, or PD, have made progress towards a new government coalition deal, according to Reuters. A PD source told the news agency that talks were still at risk of failure over 5-Star leader Luigi Di Maio's insistence that he should retain the role of deputy prime minister in a new coalition despite PD's opposition.
NORDIC COUNTRIES
* Norway should shift some of its $1 trillion sovereign wealth fund from European stock markets and invest more in the U.S. and other North American markets, the Norwegian central bank said.
* Swedish insurance company Hedvig AB
* Denmark's Sydbank A/S
EASTERN EUROPE
* Top managers of Russian sanctions-hit JSCB Evrofinance-Mosnarbank Bank JSC
* Public Stock Co. Orient Express Bank's shareholder Finvision pledged to provide a 2.2 billion Russian ruble financial support for the lender by purchasing some of its assets, RBC reported.
* Moody's upgraded Armenia's long-term local- and foreign-currency issuer ratings to Ba3 from B1, and revised the outlook on the ratings to stable from positive.
* As expected, the Hungarian central bank decided to keep its base rate and overnight deposit rate at 0.9% and negative 0.05%, respectively.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: JPMorgan, Citi expand Japan desk; S&P cuts AMP; Shinsei Bank share sale
Middle East & Africa: Global sukuk issuance set to rise; Bank Leumi names CEO; Hapoalim CFO to resign
Latin America: Banco de Bogotá Q2 profit rises; BTG denies advising clients on money laundering
North America: 2 Iowa banks in deal; Moody's warns on Volcker rule; SEC's Jackson extends stay
Global Insurance: Slowing US life premiums; Dorian could become hurricane; China insurer results
NOW FEATURED ON S&P GLOBAL MARKET INTELLIGENCE
European banks brace for 'lower for longer' interest rates: Banks across Europe are under pressure from the low interest rate environment, which is set to continue for longer than expected after the ECB signaled that a further rate cut could be on the horizon.
Deadline in Britain's biggest financial scandal nears with claim surge expected: The regulator expects consumers to file last-minute claims as the long-running payment insurance mis-selling debacle finally draws to a close for U.K. banks, which have already paid out £36 billion in compensation.
Bank of Cyprus 'well placed' to support economic rebound, says outgoing CEO: The lender is returning to strength and is "well placed" to support a rebound in the Cypriot economy, outgoing CEO John Patrick Hourican told analysts during a first-half earnings call.
Deza Mones, Arno Maierbrugger, Meike Wijers, Esben Svendsen, Beata Fojcik, Heather O'Brian, Brian McCulloch, Praxilla Trabattoni and Mariana Aldano contributed to this report.
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This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
