Bank funding guarantees back on European agenda
A return to the era of government-guaranteed bank funding came closer on October 26, when a European Union (EU) leaders' statement revealed guarantees are an important constituent part of a plan to shore up European banks' medium-term funding. The plan does not currently have significant detail attached, but the EU statement says measures are "urgently needed and are necessary in the context of strengthening prudential control of the EU banking sector".BEN adds A$250 million to latest RMBS [UPDATED]
A new residential mortgage-backed securities (RMBS) deal from Bendigo and Adelaide Bank (BEN) priced on October 28. The transaction was upsized to A$750 million (US$800.3 million) from its indicative volume of A$500 million, and is the issuer's second RMBS transaction of 2011.