Bond issuance by banks is at its lowest level in a decade, underlining the impact that new regulations and the eurozone debt crisis are having on the way financial institutions operate.
Global debt issuance by banks stands at $1.26tn – the lowest since 2002 – according to figures from Dealogic.
The amount of senior unsecured debt, a mainstay of bank funding, is at its lowest since 2003. Issuance of covered bonds – debt secured against pools of loans that carries an additional bank guarantee – has also fallen and the total raised via asset-backed securities continues to be a fraction of pre-subprime crisis levels.
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