【出版时间及名称】：2010年欧洲银行业前景展望
        【作者】：德意志银行
        【文件格式】：pdf
        【页数】：52
        【目录或简介】：
Table of Contents
The banking cycle: 2010.................................................................... 4
Key points ................................................................................................................................4
Where does 2010 fit in the banking cycle? ...............................................................................4
Valuations have moved to price in most of the recovery phase ...............................................5
Regulatory change incoming............................................................ 7
Key points ................................................................................................................................7
The changes in summary form .................................................................................................7
On timing: practical implementation sooner, rather than later ..................................................9
Calculating pro-forma impact on Core Tier 1 Equity ratios ......................................................10
Liquidity regulation: A major threat to growth ............................ 14
Key points ...............................................................................................................................14
The Basel Committee proposals in brief .................................................................................15
The liquidity coverage ratio: surviving a crisis .........................................................................15
The stable funding ratio: locking in more core funding ...........................................................16
Can the banking system grow core funding in the near-term? ...............................................18
Which banks are best and worst placed on Stable Funding?..................................................24
The normalisation trade.................................................................. 26
Key points ...............................................................................................................................26
Is there any left to go? ............................................................................................................26
Where will normalised bad debts be for the sector in future?................................................26
How big an upgrade does this imply?.....................................................................................27
Which banks would we Buy on normalisation? ......................................................................28
Emerging markets growth? ............................................................ 30
Key points ...............................................................................................................................30
If none at home, will banks look elsewhere? ..........................................................................30
Top picks .......................................................................................... 36
Summary................................................................................................................................36
Credit Suisse..........................................................................................................................38
Santander...............................................................................................................................40
Lloyds Banking Group .............................................................................................................42
Barclays..................................................................................................................................44
Valuation data.................................................................................. 45
Contents ................................................................................................................................45