* The ECB shuttered its Banks' Integrated Reporting Dictionary website until further notice after a breach of the portal's security measures. The regulator found that malware had been injected into external servers, potentially capturing contact data of 481 subscribers. However, its internal systems and market sensitive data were unaffected.
* The ECB should launch "significant and impactful" stimulus measures that surpass market expectations to combat a slump in economic growth, Governing Council member Olli Rehn told The Wall Street Journal. He added that the stimulus package to be announced at the Sept. 12 meeting should include key interest rate cuts and "substantial and sufficient" bond purchases, as well as easing on the terms of new long-term loans for banks.
* Global economic losses and insured losses fell in the first half, according to Swiss Re Institute's preliminary sigma estimates. Global economic losses from natural catastrophes and disasters caused by human activity amounted to $44 billion, down from $51 billion a year ago. Global insured losses from natural catastrophes fell year over year to $15 billion from $21 billion.
UK AND IRELAND
* U.K. Labour Party leader Jeremy Corbyn's attempt to steer a caretaker government and thwart Prime Minister Boris Johnson's plan to leave the EU with or without a deal was met with resistance from some potential allies, new outlets including BBC News and Bloomberg News covered. The Scottish National Party and Plaid Cymru were reportedly open to the idea but Jo Swinson, leader of the Liberal Democrats, said the plan was not viable. Even some in Corbyn's own party seemed to oppose him, according to the reports.
* British banks have warned the government that they will merely have hours to implement changeovers in the event of a no-deal Brexit on Oct. 31 since the day after will see customers withdrawing more money, The Times noted. In a meeting with Michael Gove, cabinet minister for no-deal planning, banking representatives proposed to make Nov. 1 a banking holiday to give banks time but the plan was reportedly junked.
* Customers of U.K. lender TSB Banking Group PLC were unable to access their online accounts yesterday morning, but the bank said the outage was due to scheduled routine maintenance, Sky News reported.
* Burford Capital Ltd. will reshuffle its board. The company will appoint two new independent directors, and Chairman Peter Middleton and board member David Lowe will eventually resign from the board. The firm replaced Elizabeth O'Connell with Jim Kilman as CFO in response to shareholders' concern over O'Connell's marriage to CEO Christopher Bogart. O'Connell will instead become chief strategy officer. Burford added that it will apply for a dual listing the U.S., but if the plan collapses, the firm would apply for a premium listing on LSE's main market.
* Online lender Monzo Bank Ltd. is seeking to raise "hundreds of millions of pounds" from institutional investors during its next equity funding round, CEO Tom Blomfield told Financial News. He noted that the firm has now "checked out" of venture capital and is looking for long-term investments that can stay for the next 10 or 20 years. The bank, meanwhile, has started offering loans to current account clients in a bid to bolster revenues, the Financial Times wrote.
GERMANY, SWITZERLAND AND AUSTRIA
* Switzerland's SIX Group AG could acquire or partner with a bourse in the EU if the suspension on trading Swiss stocks in the bloc continues or worsens, insiders told Bloomberg News. Among the potential targets are Spain's Bolsas y Mercados Españoles Sociedad Holding de Mercados y Sistemas Financieros and Austria's Wiener Börse AG.
* Norddeutsche Landesbank Girozentrale's shareholders, including the Sparkassen-Finanzgruppe and the states of Lower Saxony and Saxony-Anhalt, have resolved a dispute over the issue of dividends following a meeting in Berlin with Jörg Kukies, state secretary at the Federal Ministry of Finance, Reuters reported. NordLB will be able to pass on half of the distributable net income to its shareholders if the core capital is 14%, insiders said. The bank will retain the other half until a total capital buffer of €550 million is reached.
* Deutsche Bank AG confirmed that has nominated Jürg Zeltner, CEO of KBL European Private Bankers SA, to replace Richard Meddings on its supervisory board. Meddings resigned from his supervisory board mandate after nearly four years.
FRANCE AND BENELUX
* Volksbank NV's first-half net result rose on a yearly basis to €154 million from €149 million. CEO Maurice Oostendorp, however, said the bank expects its second-half profit to be lower than in the first half, owing to an anticipated pressure on income and higher operating expenses.
* Dutch insurer Aegon NV said it would merge its online banking units Aegon Bank and Knab, Het Financieele Dagblad reported. Nadine Klokke will head up the new unit, while Eric Rutten, the current Aegon Bank CEO, will leave his job. Aegon hopes for a merger between the two units to accelerate its growth.
* Aegon will also wind down its Mexican asset management joint venture Akaan Transamerica, with CEO Alex Wynaendts saying the business did not meet financial targets. The Dutch insurance group, meanwhile, expects to gain €50 million from the sale of its stake in its Japanese variable annuity joint ventures.
* Achmea Bank NV said the Dutch central bank has approved its acquisition of a portion of ASR Bank NV's banking operations, adding that the integration process is expected to be completed in the second half.
ITALY AND GREECE
* Luigi di Maio, the head of Italy's 5-Star Movement, said his party is not interested in patching up a ruling coalition with the League party, after League head Matteo Salvini's bid for new elections was opposed by other parties in parliament, Reuters reported.
* Norway's central bank held its policy rate at 1.25% and repeated its guidance of a third hike later this year, while also signaling uncertainty about the future path of monetary policy amid global trade tensions and concerns over Brexit. The central bank's policymakers will again decide on interest rates in September, October and December.
* The ECB deemed Latvia-based AS PNB Banka failing or likely to fail due to a dwindling capital. The regulator said the lender has been not meeting its capital requirement since 2017-end. The ECB's Single Resolution Board also determined that the bank was not systemically important to merit resolution actions.
* A Moscow city court yesterday released Baring Vostok Capital Partners Ltd. partner Philippe Delpal from jail and put him under house arrest on fraud charges, the FT wrote. Delpal, Baring Vostok founder Michael Calvey and several other executives were detained in February on suspicion of embezzling 2.5 billion Russian rubles from Public Stock Co. Orient Express Bank, but they deny any wrongdoing, Vedomosti noted. Calvey is also under house arrest, which has been extended until Oct. 13
* PAO Sberbank of Russia converted some $2.7 billion from its sale of Turkey-based DenizBank AŞ into rubles early this month, unnamed sources told Reuters. The conversion reportedly bolstered the Russian currency, which has been struggling due to U.S. sanctions.
* VTB Bank PJSC became an owner of a 19% stake in Qatar-based CQUR Bank, Kommersant reported, estimating the value of VTB Bank's investment in the Qatari lender at $5 million.
* Moody's said it expects Islamic banking to grow significantly in CIS countries, such as Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, in the next five years, with the growth fueled by various government initiatives.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Ping An Insurance H1 up 68.1%; MLC to restructure; Japan is top US T-bill holder
Middle East & Africa: Provisions dent Hapoalim Q2 profit; KCB H1 profit up; Ghana's liquidity squeeze
Latin America: Argentina unveils economic relief measures; StoneCo's Q2 profit jumps 172.7%
North America: SEC charges Canaccord Genuity; Repay Holdings buys TriSource Solutions
Global Insurance: Global insured losses dip; Syncora selling unit; NN Group, Aegon report results
NOW FEATURED ON S&P GLOBAL MARKET INTELLIGENCE
Aegon looks to reinsurance, private equity to free up Dutch life capital: CEO Alex Wynaendts said the life insurer will explore options after its Netherlands unit's Solvency II ratio slipped below its 155% target.
Rabobank must step up client due diligence on regulator's request, CEO says: Netherlands-based Rabobank has been asked by the national regulator to run additional checks on a group of its clients whose accounts the lender has labeled as low-risk, CEO Wiebe Draijer said.
Sheryl Obejera, Ed Meza, Danielle Rossingh, Gerard O'Dwyer, Beata Fojcik, Heather O'Brian, Stephanie Salti, Sophie Davies and Mariana Aldano contributed to this report.
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