BCE Inc. has announced (in an ad in the Globe and Mail, which I can’t find on either the Globe‘s website or BCE’s) that: The “Selected Percentage Rate” determined by BCE Inc. is 168%. The …
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XCM.PR.A Unveils Reorganization Plan
Commerce Split Corp. has announced: that it has filed and mailed the Management Information Circular to all holders of Priority Equity shares and Class A shares of record on December 14, 2009 in connection with …
CM.PR.A Trades Through Canadas
Now I’ve seen it all. CM.PR.A closed today at 26.65-80 after trading 3,142 shares in a range of 26.80-85. According to the prospectus dated 2001-1-17: The non-cumulative class A preferred shares Series 23 (the “Series …
BoE Releases December 2009 Financial Stability Report
The Bank of Engand has released the December 2009 Financial Stability Report, with the usual tip-top analysis. The first chart puts things into perspective: the UK is a smaller economy than the US or the …
BIS Reforms Grind One Step Closer
The Bank for International Settlements has released a consultative document titled Strengthening the resilience of the banking sector, which fleshes out some of the proposals made when the granted most of Treasury’s wish list immediately …
December 16, 2009
Holy smokes, it’s been ten years! The November 27, 2007 commentary on the Abu Dhabi – Citigroup deal is now looking a little dated: Citigroup Inc. said the Abu Dhabi Investment Authority is seeking to …
Stabilizing Large Financial Institutions with Contingent Capital Certificates
Mark Flannery has published a paper with the captioned title dated 2009-10-6, which elaborates and defends his original idea for Contingent Capital that has been previously discussed on PrefBlog (he used to call them Reverse …
HM Treasury Discusses Contingent Capital
Her Majesty’s Treasury has released a discussion document on the role of banks titled Risk, reward and responsibility: the financial sector and society, which discusses contingent capital among other things: In the recent crisis existing …
December 10, 2009
Royal Bank of Scotland’s equity will be massively diluted by preferred share conversion: Investors in RBS’s $1 billion of 9.118 percent undated preference shares issued in 2000 have until the end of December to exercise …
UK FSA Proposes New Bank Capital Standards
The UK Financial Services Authority has announced release of a discussion paper, Strengthening Bank Capital Standards 3. Contingent Capital is now official (and stupid): The CRD amendments impose a new limit structure on hybrid capital. …