Trying to get a classification for banks that slip through the cracks of other naming conventions. How would you classify large European (mostly) banks that don't really fit into the BB/MM classification.
Banks like HSBC, BNP, SocGen, CreditAg have large balance sheets (like BBs) but don't necessarily compete with them on advisory mandates. These banks aren't really dipping into the MM space either. How would you classify them?
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Balance Sheet Banks (BSB) is most often used
Heard "In-between Banks" used too because as you said they don't fit either the BB/MM categories
Balance Shit Banks. In most cases IB is not profitable for them aside from financing.
What is the view on Nomura for NYC?
Northwestern Mutual of RBCs
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