A round-up of the key stories across the specialist financial media, including reports that banks face paying more to raise finance in traditional bond markets.
UK banks face higher financing costs
FT says that banks face paying more to raise finance in traditional bond markets – and some will continue to be locked out completely – as a growing demand for collateral from other lenders is undermining the strength of their balance sheets, according to the the Bank of England says the FT
Many of the banks that act as primary dealers in the European sovereign bond market are considering pulling out of the business because it costs them too much, requires them to shoulder too much risk and no longer helps them win follow-on business.
China’s currency weakened to the lower end of its trading band against the U.S. dollar for the fourth straight session Monday, as investors appeared increasingly inclined to withdraw capital amid concerns over the economic outlook and the likelihood of a new round of monetary easing.
China’s stocks decline, extending fourth weekly loss, on property concerns
China’s stocks in the Shanghai Composite fell, sending the benchmark index to a six-week low, after non-manufacturing industries contracted as the government’s curbs on property and lending damped demand.
