HALISTER1: Rizal Bank CCTV Cameras Not Working When Stolen Funds Withdrawn

Rizal Bank CCTV Cameras Not Working When Stolen Funds Withdrawn

(Bloomberg) -- CCTV cameras at Rizal Bank’s Jupiter branch in Makati City were no longer working when $80.9m of stolen funds from Bangladesh Bank were withdrawn in early Feb., Laurinda Rogero, bank’s anti-money laundering officer, tells Senate hearing in Manila.
  • “We are looking into the matter because the circumstances are suspicious,” Rogero says
  • NOTE: Philippine Banker Wants Tell-All in Closed Cyber-Heist Hearing Link
  • Senate committee asked Rizal Bank to provide CCTV footages when cameras were still working
  • Rogero says she didn’t see businessman William Go in Feb. 1 footage
  • Go at hearing denies opening Rizal bank accounts where laundered funds were allegedly transferred
  • “My signatures were obviously forged,” he says; his lawyer asked bank to explain why certain accounts in his name were opened and used
  • NOTE: Philippine Businessman Go Denies Involvement in Alleged Scam Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCB PM (Rizal Commercial Banking Corp)

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UUID: 7947283

HALISTER: Cable A La Carte Is Becoming a Reality -- Outside the U.S.

Cable A La Carte Is Becoming a Reality -- Outside the U.S.

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
CMCSA US (Comcast Corp)
DIS US (Walt Disney Co/The)
NFLX US (Netflix Inc)
FOXA US (Twenty-First Century Fox Inc)
VIAB US (Viacom Inc)

People
Carlos Martinez (Fox Networks Group Inc)
Robert Bakish (Viacom 18 Media Pvt Ltd)

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UUID: 7947283

HALISTER1: Buy Contingent 10Y USD Gamma Receivers with EUR/USD Knock-In: DB

Buy Contingent 10Y USD Gamma Receivers with EUR/USD Knock-In: DB

(Bloomberg) -- Recommend contingent receivers in 10Y USD gamma which knock in when EUR/USD touches 1.05, as a hedge against excessive weakening of the euro, Deutsche Bank strategist Aleksandar Kocic writes in a client note.
  • USD 3M10Y ATMF receivers subject to (continuous) KI at EUR/USD = 1.05; offer 56.5c, a 65% discount to vanilla at 160c
  • EUR above 1.15 is bad for euro-area growth and would, most likely, imply additional ECB accommodation with lower EUR rates and further support for U.S. duration as a consequence
  • Below 1.05, USD becomes too strong and obstructs Fed’s resolve to hike, forcing further delays
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Aleksandar Kocic (Deutsche Bank AG)

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UUID: 7947283

HALISTER: Naspers $1.2 Billion Russia Classifieds Bet Pays Off in Crisis

Naspers $1.2 Billion Russia Classifieds Bet Pays Off in Crisis

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
NPN SJ (Naspers Ltd)
MAIL LI (Mail.Ru Group Ltd)
YNDX US (Yandex NV)
2266496Z SS (Vostok New Ventures Ltd)

People
Dmitry Ananiev (Promsvyazbank PJSC)
Jacobus Bekker (M-Web Holdings Ltd)

Topics
CEO Interviews

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UUID: 7947283

HALISTER1: EU CREDIT DAILY: Post ECB Consolidation; Sainsbury, SocGen, NBG

EU CREDIT DAILY: Post ECB Consolidation; Sainsbury, SocGen, NBG

(Bloomberg) -- After the magnitude of the positive reaction to the ECB at the end of last week, cash corp bonds continue to perform, but synthetic indexes consolidated a little on Monday, Bloomberg strategist Simon Ballard writes.
  • All eyes remain on the global macro and monetary policy outlook; with the BOJ keeping rates unchanged overnight, BOE, U.K. budget, SNB and FOMC among this week’s other key data points
  • Gyrations in the oil price will also tend to drive sentiment across the risk asset space, particularly in more liquid equity and credit derivative indexes
    • Cash bonds well underpinned, although mkt still awaiting precise rules & details of ECB proposed corp bond buying initiative
  • Risk Appetite Model highlights recent spread performance has come at cost of higher volatility
  • CDX IG currently -0.2bps at 85.09 in overnight session; iTraxx Asia Ex Japan IG is currently -0.5bps at 136.04
NEWS
  • Corporate News
  • JD.Com Gains on Alibaba as Spending Jumps, Profit Estimates Drop
  • Kobe Steel Aims to Return to Profit at Excavator Unit
  • Ocado 1Q Retail Gross Sales Beat Ests.
  • H&M Sales Miss Estimates in February, 1Q
  • Balfour Beatty Says Order Book, Revenues Stabilising
  • Sainsbury Posts First Quarterly Sales Increase in Two Years
  • Vivendi May Ask for Telecom Italia Board Renewal in May: Sole
  • Financial News
  • Societe Generale to Buy Kleinwort Benson from Oddo Group
  • Sberbank 4Q Net Income 72.6B Rubles; Est. 68.2B Rubles
  • Natixis Says Reorganized CIB to Be Managed by Riahi, Vincent
  • Standard Bank Economist Hart Quits After Twitter Suspension
  • National Bank of Greece 2015 Net Loss EU2.62b Vs EU255m Loss
  • Nomura Erases Losses After BOJ Keeps Policy Unchanged
  • Rating News
  • Australia’s Stable AAA Sov Credit Rating Affirmed by Fitch
  • Fortescue Credit Rating Cut by Moody’s After Iron Ore Slump
  • Other News
  • Bank Debt Getting Uglier for This $9 Billion Nordic Fund Manager
  • U.K. Has Nothing to Gain From Brexit: European Commissioner Hill
  • Copper Leads Industrial Metals Declines Amid Rising China Stocks
ANALYST VIEWS
  • 1Q is going to be good, and we expect issuance, tighter spreads and investors scurrying around to get risk on board will all sustain a feel-good factor and a positive tone through the second quarter: creditmarketdaily.com
NEW ISSUES
  • BP Capital Markets $500m 5Y MS +175
  • Femsa EU1b 7Y MS +155
  • Fluor EU500m 7Y MS +150
  • Helaba EU1b 11/2022 Covered MS -3
  • Rabobank EU2b 10Y MS +68
  • UBS Group $1.5b PNC5 AT1 Notes 6.875%
  • Yorkshire Water Services GBP200m 30NC7 UKT +240
  • European IG credit pipeline here and HY credit pipeline here
  • Issuers exposed to S-T rollover and interest-rate reset risk here
  • NOTE: Simon Ballard is a credit strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)
ETE GA (National Bank of Greece SA)
GLE FP (Societe Generale SA)

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HALISTER1: Bank Secrecy Invoked at Philippine Hearing on Bangladesh Heist

Bank Secrecy Invoked at Philippine Hearing on Bangladesh Heist

(Bloomberg) -- Philippine law on bank secrecy was invoked by Rizal Bank President Lorenzo Tan when asked by lawmakers what time lender received stop payment request from Bangladesh in relation to stolen funds.
  • Senator Teofisto Guingona, head of committee on anti-money laundering, says $58m would have been recovered had Rizal Bank promptly acted on Bangladesh’s stop payment request
  • Guingona says bank secrecy doesn’t apply in this case as owner of funds is Bangladesh which wants to uncover truth
  • Rizal Bank manager at Jupiter branch Maia Santos Deguito invoked right against self-incrimination, asked for closed- door session where she’s willing to tell-all
  • NOTE: Philippines Lodges Complaint Against Banker on Missing Funds Link
  • NOTE: $1 Billion Plot to Rob Fed Accounts Leads to Manila Casinos Link
  • Rizal Bank’s Tan says he has no personal knowledge and participation in transactions, no personal dealings with Deguito
  • Tan says audit was immediately ordered upon hearing of transactions; erring employees to be held accountable
  • Rizal Bank complied with freeze order on accounts under investigation, to cooperate with authorities on probe: Tan
  • Tan says he’s “precluded from discussing the transactions” and that Anti-Money Laundering Council in better position to comment
  • NOTE: Philippine law on deposit secrecy among strictest globally and that finance dept had been saying this has weakens capacity of tax agency to collect more revenue Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RCB PM (Rizal Commercial Banking Corp)

People
Lorenzo Tan (RCBC Savings Bank Inc)
Teofisto Guingona Jr (Republic of the Philippines)

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UUID: 7947283