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Banking 04 Jan 2018

Ignacio Echevarría: "Financial institutions will issue senior non-preferred debt massively in 2018."

Ignacio Echevarría, BBVA’s Head of Wholesale Funding and Capital Management, explained in the El Catalejo (“The Spyglass”) the factors that, in his view, will determine the evolution of capital markets in 2018.

The combination of lower liquidity needs and greater regulatory requirements could lead financial institutions to issue hybrid capital and senior non-preferred debt. Everything indicates that these requirements “will incentivize financial institutions to again use formats of senior non-preferred debt, in a potentially massive form, throughout 2018.”

In this context, and after a year in which the activity of the BBVA Group has been outstanding, he underscored the bank’s priorities in the year to come: “To continue taking advantage of the good conditions in the market, being as strategic as possible regarding the format, the time we enter the market and the term.”

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