* The risk of a potential no-deal Brexit increased after it emerged that U.K. and EU negotiators were struggling to reach agreements over significant issues, including the Irish border backstop, The Guardian reported. British Prime Minister Theresa May's Brexit strategy come under scrutiny from all parties, Reuters noted, while former Prime Minister Gordon Brown backed calls for a second Brexit referendum.
* German Deputy Finance Minister Jörg Kukies argued that an EU proposal over post-Brexit derivatives trading was not at odds with existing regulatory arrangements between the European Commission and the U.S. Commodity Futures Trading Commission, the Financial Times wrote. CFTC head Christopher Giancarlo had threatened to block EU banks from using U.S. clearing houses due to the proposal.
* ECB Vice President Luis de Guindos has called for tighter oversight of asset management companies to prepare for possible future stress scenarios, Bloomberg News reported.
* A group of financial crime and tax fraud investigators from the U.S., U.K., Australia, Canada and the Netherlands aims to increase collaboration with the banking sector.
UK AND IRELAND
* CYBG PLC is understood to be terminating a contract agreed between Virgin Money Holdings (UK) PLC and former Barclays PLC CEO Antony Jenkins' digital venture to establish an online bank using the Virgin Money brand, Sky News reported.
* Royal Bank of Scotland Group PLC paid contractors, who were hired for more skilled jobs, nearly £400 a day to carry out mundane tasks such as sending PPI letters to customers, BBC News reported.
* Aviva PLC has applied for court permission to transfer 1.39 million policies it writes in the U.K. and Europe to its Ireland business in response to a potential no-deal Brexit, the Post wrote.
* U.K.-based Revolut Ltd. and OakNorth Bank PLC have held talks with SoftBank Vision Fund regarding a potential investment at their next fundraising, The Times reported.
* Former UBS Group AG trader Kweku Adoboli, who was given a seven-year prison sentence in 2012 over fraud charges, was detained again by British police yesterday, as he battles deportation to his native Ghana, according to Bloomberg News.
GERMANY, SWITZERLAND AND AUSTRIA
* Joachim Wuermeling, a board member in charge of bank supervision at the German central bank, has welcomed the idea of a super state-backed landesbank formed through consolidation, Handelsblatt wrote. Wuermeling also told Handelsblatt that he is not worried about German banks' poor results in the latest EU stress tests and that tough reforms implemented after the crisis have made the lenders more resilient, Reuters said.
* Felix Hufeld, president of German financial watchdog Bafin, warned against the easing of regulations imposed on banks and financial markets in the wake of the financial crisis, Handelsblatt reported.
* Speaking at a conference in Berlin yesterday, Deutsche Bank AG CEO Christian Sewing said he felt no political pressure to merge with Commerzbank AG while expressing support for a European banking union, Süddeutsche Zeitung reported. Sewing added that the bank was on track for profitability this year.
* Germany-based Aareal Bank AG reported a third-quarter consolidated net income attributable to shareholders of the bank of €45 million, compared to a reclassified €51 million a year earlier.
* Jürgen Gräber, Hannover Re's long-serving executive board member, died unexpectedly Nov. 9, the company said.
* Swiss prosecutors have widened an investigation into alleged money laundering to include Credit Suisse Group AG, finews.com reported. Prosecutors in Geneva are looking at whether the lender did enough to prevent criminal wrongdoing.
* EFG International AG named Ranjit Singh chief risk officer, subject to regulatory approval.
* Migros Bank AG said it will stop paying bonuses to employees and instead reward outstanding performance with a "13th month" of salary.
FRANCE AND BENELUX
* The French Ministry of Finance would like to attract more corporate bankers post-Brexit, according to Les Echos. A new law will also reportedly prevent banks wrote to reduce bankers' bonuses in case of bad performance or compliance failure.
* Dutch lender Rabobank is considering selling its U.S. retail and wealth management operations in a deal that could generate roughly $1 billion for the bank, insiders told Reuters.
* Dutch consumer groups are considering starting a collective action against Achmea unless the insurer gives its members an "adequate" settlement for misselling investor insurance policies in the 1990s and the start of this century, Het Financieele Dagblad reported.
SPAIN AND PORTUGAL
* Spanish banks will be under scrutiny to ensure that they do not raise fees for mortgages and do not coordinate their efforts to set commissions at certain levels, Europa Press quoted, José María Marín Quemada, head of Spain's National Commission for Markets and Competition, as saying.
* Spanish Supreme Court Judge Diego de Egea has opened oral proceedings against 47 former directors of Caja de Ahorros de Valencia, Bancaja and Banco de Valencia over a €750 million embezzlement related to the real estate operations of Grand Coral in Mexico, Expansión reported.
* José Oliveira e Costa, the founder and former CEO of failed Portuguese lender Banco Português de Negócios, was sentenced to 12 years in prison for fraud and abuse of trust in another case relating to the bank's mismanagement, the official Lusa news agency reported. In the same case, former government minister Arlindo Carvalho and José Neto, a partner of Oliveira e Costa in a real estate company, were also found guilty of fraud and tax fraud. Judge Maria Joana Gracio said the three had "played with the money of compliant citizens who had trusted the bank and its administrators." Lawyers for Oliveira e Costa vowed to appeal.
ITALY AND GREECE
* Banca Carige SpA will receive a €320 million bailout from Italy's interbank deposit protection fund in order to plug a capital hole, CEO Fabio Innocenzi told analysts during a call for the bank's third quarter earnings. Carige reported third-quarter net loss attributable to the parent company of €168.4 million, widening from a year-ago attributable loss of €55.5 million.
* Credito Valtellinese SpA reported a reclassified consolidated profit of €11.4 million for the first nine months of 2018, compared to a loss of €402.6 million in the year-ago period.
NORDIC COUNTRIES
* The agreement that enabled Topdanmark A/S to sell non-life insurance policies through Danske Bank A/S was terminated, effective Nov. 12. Additionally, Tryg A/S entered into a strategic partnership with Danske Bank covering Denmark, Norway and Sweden. Danske Bank customers will be provided insurance offerings during the spring of 2019.
* Danish lawmakers want investigating authorities in Denmark to look into Danske Bank Estonia's operating history before the branch was acquired by Danske Bank from Sampo Oyj, Ilta Sanomat wrote. Sampo Chairman Björn Wahlroos maintains that the group sold its commercial bank business in Estonia to Danske Bank "in a good state and without irregularities," Dagens Industri wrote.
EASTERN EUROPE
* The ECB will conduct a comprehensive assessment of six Bulgarian banks — UniCredit Bulbank AD, DSK Bank, United Bulgarian Bank AD, First Investment Bank AD, Central Cooperative Bank AD and Investbank AD
* Warsaw-based Getin Noble Bank SA's owner, Leszek Czarnecki, has accused Marek Chrzanowski, chairman of Poland's Financial Supervisory Authority, of soliciting a multimillion dollar bribe, according to the Financial Times. A spokesman for the regulator denied the allegations.
* Russia-based PJSC Sovcombank finalized its merger with JSCB RosEvroBank (JSC) and LLC Modern Commercial Innovative Bank.
* Alexander Torbakhov, PAO Sberbank of Russia's management board deputy chairman responsible for the lender's retail business, will resign from the post this week and leave the financial institution, Kommersant reported.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Anbang transfers Chinese bank shares; South Korean banks halt NY wire services
Middle East & Africa: Diamond Bank, Access Bank deny merger rumors; Skye Bank's management in hot seat
Latin America: HSBC said to eye Brazil comeback; World Bank CFO may accept BNDES role
North America: US banks to shift $283B in assets post-Brexit; Canada's asset manager mulls sale
Global Insurance: California fires could cost $25B; Maiden-Enstar loss transfer; SEC prods AIG
NOW FEATURED ON S&P GLOBAL MARKET INTELLIGENCE
Euronext to pay special dividend if M&A search under current strategy fails: The Netherlands-based stock exchange will distribute extra capital if it does not find "financially attractive" acquisitions by the end of 2019 when its current strategic plan ends, CEO and chairman Stéphane Boujnah said.
Global financial crime policing group set to rope in banks: The five countries that have recently formed a joint team for fighting tax evasion and other financial crimes are keen for banks to help more with investigations.
Systemically important banks increase cross-border exposures: The world's most systemically important banks have increased their exposures across country borders at a time when geopolitical concerns seem to be rising.
Sheryl Obejera, Ed Meza, Danielle Rossingh, Gerard O'Dwyer, Beata Fojcik, Yael Schrage, Stephanie Salti, Sophie Davies and Helen Popper contributed to this report.
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