The Danish banking sector is adapting to new requirements that mean it must hold more capital and conform to yet more rules. While few in the industry doubt that the system must be more robust, concerns are increasingly being voiced that the country’s banks are having to adjust to more stringent regulations than their EU counterparts, and at a faster pace.
As the Chinese authorities lift restrictions and open up the renminbi market stage by stage, the significance of what is unfolding has not gone unrecognised in Europe, and, according to a recent survey by The Banker, it is not only those already doing business with the country that are interested in the renminbi's development. As London takes steps to establish itself as an offshore renminbi financial centre, many are anxious to take advantage of the opportunities soon to be available.
A sharp increase in provisioning requirements is likely to drive consolidation in the Spanish banking sector. But the country's largest banks – many of which have remained profitable thanks to their operations in other regions – are cautious about what may lurk on the balance sheets of the troubled savings banks.