Another option for corporates struggling to get loans from their banks will be to go direct to retail investors with retail bond issues That's what Fonterra and others are doing Morgan Stanley's Huw van Steenis reckons Europe's big banks will need to find €83bn by 2012, or shrink their risk weighted assets by 11 per cent, or €1,000bn, FTAlphaville reports We think banks would be likely to reprice loans and reduce credit further – we already model less than 1% loan growth for European banks in 2010 We think Basel 3 and US proposals could mean – unless amended – corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk 
Share:  Another option for corporates struggling to get loans from their banks will be to go direct to retail investors with retail bond issues That's what <span class="company">Fonterra</span> and others are doing<span class="sent"> Morgan Stanley's <span class="analyst">Huw van Steenis</span> reckons Europe's big banks will need to find €83bn by 2012, or shrink their risk weighted assets by 11 per cent, or €1,000bn, FTAlphaville reports</span> We think banks would be likely to reprice loans and reduce credit further – we already model less than 1% loan growth for European banks in 2010 We think Basel 3 and US proposals could mean – unless amended – corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk Tweet this 

US proposals to limit sharply proprietary trading by banks could cut earnings at global investment banks by 3 5 per cent, with JPMorgan, Bank of America and Deutsche Bank particularly at risk, new analysis by Morgan Stanley has found. But the Morgan 
Share:  <span class="sent">US proposals to limit sharply proprietary trading by banks could cut earnings at global investment banks by 3 5 per cent, with JPMorgan, Bank of America and Deutsche Bank particularly at risk, new analysis by Morgan Stanley has found. </span>But the Morgan Tweet this 

There have been various efforts to estimate how much banks may need to raise to meet new capital requirements.Just last week Jonathan Pierce, the respected analyst at one of Barclays' advisors Credit Suisse, said under the new Basel rules, the bank might need to raise £17bn over the next three years.Now Morgan Stanley analyst Huw van Steenis , in 115 page document , has suggested that the proposals may mean pressure on banks' dividends, and may also require capital raisings of some €83bn They , along with President Obama's recent plans , could also mean stricter lending policies He said:We think the market has underestimated the impact of Basel proposals on distributions and this, plus political uncertainty, means dividends will be very constrained 
Share:  There have been various efforts to estimate how much banks may need to raise to meet new capital requirements.Just last week Jonathan Pierce, the respected analyst at one of <span class="company">Barclays</span>' advisors Credit Suisse, said under the new Basel rules, the bank might need to raise £17bn over the next three years.Now <span class="sent"> Morgan Stanley analyst <span class="analyst">Huw van Steenis</span> , in 115 page document , has suggested that the proposals may mean pressure on banks' dividends, and may also require capital raisings of some €83bn</span> They , along with President Obama's recent plans , could also mean stricter lending policies He said:We think the market has underestimated the impact of Basel proposals on distributions and this, plus political uncertainty, means dividends will be very constrained Tweet this 

European lenders including BNP Paribas SA, Credit Suisse Group AG and Deutsche Bank AG will probably reduce dividend payments because of proposed changes to banking regulations, Morgan Stanley said "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals," analysts led by Huw van Steenis said in a note They cut 2010 dividend estimates for BNP Paribas, Credit Suisse, Deutsche Bank, Credit Agricole SA, Societe Generale SA, Banco Bilbao Vizcaya Argentaria SA, UniCredit SpA, Intesa Sanpaolo SpA and KBC Groep NV Regulators in Europe are looking at ways to make banks hold more capital reserves as they seek to prevent a repeat of the global financial crisis Tougher capital rules may make lenders retain more of the money they would otherwise have paid out to shareholders 
Share:  European lenders including BNP Paribas SA, Credit Suisse Group AG and <span class="company">Deutsche Bank AG</span> will probably reduce dividend payments because of proposed changes to banking regulations, Morgan Stanley said<span class="sent"> "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals," analysts led by <span class="analyst">Huw van Steenis</span> said in a note</span> They cut 2010 dividend estimates for BNP Paribas, Credit Suisse, Deutsche Bank, Credit Agricole SA, Societe Generale SA, Banco Bilbao Vizcaya Argentaria SA, UniCredit SpA, Intesa Sanpaolo SpA and KBC Groep NV Regulators in Europe are looking at ways to make banks hold more capital reserves as they seek to prevent a repeat of the global financial crisis Tougher capital rules may make lenders retain more of the money they would otherwise have paid out to shareholders Tweet this 

"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including Huw van Steenis and Betsy Graseck, wrote in a note to clients Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, Unicredit, Intesa SanPaolo, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel 
Share:  <span class="sent">"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including <span class="analyst">Huw van Steenis</span> and Betsy Graseck, wrote in a note to clients</span> Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, Unicredit, <span class="company">Intesa SanPaolo</span>, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel Tweet this 

"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including Huw van Steenis and Betsy Graseck, wrote in a note to clients Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, Unicredit, Intesa SanPaolo, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel 
Share:  <span class="sent">"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including <span class="analyst">Huw van Steenis</span> and Betsy Graseck, wrote in a note to clients</span> Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, <span class="company">Unicredit</span>, Intesa SanPaolo, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel Tweet this 

"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including Huw van Steenis and Betsy Graseck, wrote in a note to clients Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, Unicredit, Intesa SanPaolo, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel 
Share:  <span class="sent">"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including <span class="analyst">Huw van Steenis</span> and Betsy Graseck, wrote in a note to clients</span> Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, <span class="company">Credit Agricole</span>, Credit Suisse, BBVA, Societe Generale, Unicredit, Intesa SanPaolo, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel Tweet this 

US proposals to limit sharply proprietary trading by banks could cut earnings at global investment banks by 3 5 per cent, with JPMorgan, Bank of America and Deutsche Bank particularly at risk, new analysis by Morgan Stanley has found. But the Morgan 
Share:  <span class="sent">US proposals to limit sharply proprietary trading by banks could cut earnings at global investment banks by 3 5 per cent, with JPMorgan, Bank of America and Deutsche Bank particularly at risk, new analysis by Morgan Stanley has found. </span>But the Morgan Tweet this 

The 63 company Bloomberg Europe Banks and Financial Services Index increased 51 percent. UBS amassed more than $50 billion in write downs and losses during the credit crisis, the most of any European bank, and was forced to take a lifeline from the Swiss government last year. In seeking to rebuild profitability, the bank may have to rely on the same business that brought it near collapse: the trading of debt securities, according to analysts. "The investment bank, in particular fixed income, currencies and commodities trading, is probably the largest source of upside in pretax of the restructuring plan," Huw van Steenis, a London based analyst at Morgan Stanley, said in a note to clients.  
Share:  The 63 company Bloomberg Europe Banks and Financial Services Index increased 51 percent. <span class="company">UBS</span> amassed more than $50 billion in write downs and losses during the credit crisis, the most of any European bank, and was forced to take a lifeline from the Swiss government last year. In seeking to rebuild profitability, the bank may have to rely on the same business that brought it near collapse: the trading of debt securities, according to analysts. <span class="sent"> "The investment bank, in particular fixed income, currencies and commodities trading, is probably the largest source of upside in pretax of the restructuring plan," <span class="analyst">Huw van Steenis</span>, a London based analyst at Morgan Stanley, said in a note to clients. </span> Tweet this 

The profit targets compare with pretax earnings of 14.1 billion francs and a return on equity of 23.8 per cent in 2006, the year before the credit crisis began. UBS amassed more than $50 billion in writedowns and losses during the financial crisis, the most of any European bank, and was forced to take a lifeline from the Swiss state last year. In seeking to rebuild profitability, the bank will rely in part on its fixed income unit, the business that brought it near collapse. "The investment bank, in particular fixed income, currencies and commodities trading, is probably the largest source of upside in pretax of the restructuring plan," Huw van Steenis, a London based analyst at Morgan Stanley, said in a note to clients. 
Share:  The profit targets compare with pretax earnings of 14.1 billion francs and a return on equity of 23.8 per cent in 2006, the year before the credit crisis began. <span class="company">UBS</span> amassed more than $50 billion in writedowns and losses during the financial crisis, the most of any European bank, and was forced to take a lifeline from the Swiss state last year. In seeking to rebuild profitability, the bank will rely in part on its fixed income unit, the business that brought it near collapse. <span class="sent"> "The investment bank, in particular fixed income, currencies and commodities trading, is probably the largest source of upside in pretax of the restructuring plan," <span class="analyst">Huw van Steenis</span>, a London based analyst at Morgan Stanley, said in a note to clients.</span> Tweet this