trending Market Intelligence /marketintelligence/en/news-insights/trending/laYTOqSMWkzBGNAt9SdtYA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

ECB to supervise Irish units of Barclays, BofA Merrill Lynch due to Brexit

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


ECB to supervise Irish units of Barclays, BofA Merrill Lynch due to Brexit

The European Central Bank will take over direct supervision of the Irish subsidiaries of Barclays PLC and Bank of America Merrill Lynch, beginning Jan. 1, 2019, as they were both classified as significant.

The new classification follows a request by the Central Bank of Ireland in anticipation of the expansion in Barclays Bank Ireland PLC's activities and an increase in the BofA Merrill Lynch unit's total assets following Brexit.

Bank of America Corp. recently completed the merger of its U.K. banking entity into Dublin-based Bank of America Merrill Lynch International DAC, while Barclays made Dublin its European headquarters, Reuters reported. Barclays was earlier reported to be in the process of transferring the ownership of its branches in France, Germany and Spain to its Irish unit.

In addition, following an annual review of significance and ad hoc assessments, Luminor Bank AS in Estonia and Luminor Bank AS in Latvia were added to the list of significant institutions. Banque Internationale à Luxembourg SA will also be directly supervised by the ECB after its split from Precision Capital SA, and so will be Nordea Bank Abp, which was granted a new license in Finland after relocating its headquarters there from Sweden.

The ECB said it will no longer directly supervise Dublin-based Permanent TSB Group Holdings PLC, which was not deemed significant for three consecutive calendar years. Ireland's central bank will begin supervision of Permanent TSB on Jan. 1, 2019.

The ECB also dropped supervision of five other banks over the past year because they ceased to exist. These are Nordea Bank AB (publ), Suomen sivuliike, whose parent Nordea Bank AB (publ) merged into Nordea Bank Abp; Danske Bank PLC, which transferred its business to parent Danske Bank A/S; VTB Bank (Austria) AG, which was transferred to VTB Bank (Europe) SE; and Banco Mare Nostrum SA, which merged into Bankia SA. In addition, the ECB withdrew the license of Cyprus Cooperative Bank Ltd.

The changes take the number of banks under the ECB's supervision to 119, it noted.