- In the February 2017 issue of Finance Dublin:
Brexit Developments. EFF report. IDSA's Gary Palmer provides an important overview of Ireland's securitisation industry. Ireland's leading corporate banks review a very busy 2016 for corporate banking transactions. Insurance Ireland's merger with DIMA. The Irish Tax Monitor covers VAT, and Brexit's implicatons for aviation finance and guide on Revenue tax opinions. Also: Dillon Eustace Regulatory Investigations Quarterly; Covered bonds in Ireland; The Sino-Irish FS link boost; FundRock chief on its new Irish base.
- Standout corporate banking deals and transactions for 2016
Finance Dublin asked a panel of Ireland's leading corporate bankers to detail their highlights for 2016. Highlight areas include project finance and PPPs; global M&A transactions; debt issuances; syndicated debt raises; private placements and refinancings. High demand for growth capital is also evident while corporates with strong credit ratings took advantage of favourable market conditions and low interest rates to issue bonds and notes.
- Bank of America Merrill Lynch looks to expand its Irish global centre of excellence
February 20th 2017: Bank of America Merrill Lynch is considering the expansion of its Irish-based technical and operations centre of business excellence, with potential employment of 100 jobs, sources close to the bank told Finance Dublin.
- Granting of RQFII status marks new milestone in Sino-Irish FS links
Ireland's participation in the Renminbi Qualified Foreign Institutional Investor (RQFII) Scheme represents a significant step forward for Ireland's financial services sector, say HSBC Securities Services' Florence Lee and Ronnie Griffin, who believe it could ultimately open up a wealth of new opportunities for trade and investment - in both directions - between China and Ireland.
- Irish DB pension schemes sign innovative captive annuity deal
February 20th: The Irish DB pension schemes of a global corporate completed an innovative €450 million captive annuity transaction that 'creates market precedent for multi-national corporates seeking to own and efficiently manage the financing of their global pension benefits in a manner that speaks to the objectives of local trustees'. The transaction was with AXA France Vie and the pensions schemes were advised by Eversheds Sutherland and Mercer.
- Insurance Ireland launches 'Year of Diversity and Inclusion'
15th February 2017: Insurance Ireland today launched its 'Year of Diversity and Inclusion' to highlight inclusion best practices in its member companies.
- Lloyds of London Brexit decision is imminent
With Lloyds of London edging ever closer to a decision on where to locate its post-Brexit EU base, CEO Dame Inga Beale is keeping her cards close to her chest. In response to queries from Finance Dublin she would only say: 'We are continuing to progress our work on establishing an EU subsidiary and we are looking at several important areas as part of the process.'
- Bankruptcy remote vehicles have a valuable role to play in EU Capital Markets Union and securitisation plans
Gary Palmer CEO of the Irish Debt Securities Association provides an important overview of Ireland's securitisation industry. He also points to an interesting consequence of securitisation companies using trust structures for charitable purposes: "When the Trust has served its specified and limited purpose, it is wound up and when this happens there is usually a small residual left in the trust. With 1,400 such securitisation companies this provides an amount available for distribution and I'd personally prefer this distribution to go to local charities, where it wouldn't if an alternative type of trust was available".
- Finance Dublin Yearbook 2017 - post Brexit Edition
The Finance Dublin Yearbook 2017 will be the first post Brexit edition - with over 100 new companies in the new publication, out in March, providing a comprehensive insight into the momentous changes for Ireland's FS industry of the UK decision to leave the EU. (Photo: the Irish Central Bank's new Brexit-ready headquarters, due to open in Dublin's financial district in 2017).
- Making Ireland 'Brexit-ready' - the role of the Central Bank of Ireland
In a comprehensive outline of its approach to the processing of the significant volume of post Brexit applications for passporting in the Republic of Ireland, the CBI's director of policy and risk Gerry Cross sets out the response applicants can expect from the Irish regulator 'for authorisation to do business in Ireland and Europe.'
- Irish Funds and Deloitte team up on blockchain
2nd February 2017: Irish Funds is working with industry participants and Deloitte to develop a blockchain proof of concept for Regulatory Reporting. The project will focus on the Resident Investment Fund Returns (Money Market & Investment Funds Returns Reporting- MMIF) regulation and its aim is the design and development of a proof of concept leveraging blockchain and smart contract technology to create a platform for regulatory reporting accessible to the reporting entity as well as a regulator.