Investment Banking

The ECB announced its second long-term refinancing operation (LTRO) on Wednesday. The auction led to 800 banks tapping the ECB for EUR 530bn in three year funding at 1%.

Societe Generale Securities Services in Italy (SGSS S.p.A.) has been appointed by Hermes Linder Fund Sicav Plc to act as its local Transfer Agent in Italy, providing it with paying agent and investor relations management services.

If the existence of the euro is not challenged, it is the case of the euro zone in its current configuration. In the same way that cohabitation between countries with maintaining parity exchange had become impossible in the EMS, cohabitation has become impossible within EMU

The American case during August 2011 and that of France in January shows that the loss of an AAA rating does not necessarily lead to a higher interest rate adjustment.

According to Bruno Mathis from SterWen and Jean Delahousse, all institutions exposed on Lehman which have highly developed credit analysis tools are able to detect warning signs as soon as they come about and would have almost four months to take safety measures (CDS netting, security transfers, deleting credit line, etc.)