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Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?
Reality bites
As JPMorgan's losses in credit derivatives are revealed, Euromoney columnist Jon Macaskill reveals just how the CIO division worked and the positions it took - and warns that other houses on Wall Street could try to make their rivals' losses worse.
Poland's debt-management official waxes lyrical in an interview with Euromoney about how the country is riding out the eurozone storm, and the sovereign's debt issuance plans
Moody’s downgrading of 26 Italian banks will fuel mergers and acquisitions activity, according to Nomura analysts
As markets tumble amid the eurozone crisis, Spain's proposed reforms for the banking sector are looking more and more deficient, say Nomura analysts.
Substituting sovereign collateral for loans relieves encumbrance concerns; Bundesbank and Oesterreichische Nationalbank push back against programme collateral
The eurozone crisis, global bank deleveraging risks and the need for a financial safety net: Asian policymakers and financiers had much to mull over at the Asian Development Bank annual meeting last week
Deutsche retains top ranking in global foreign exchange market; Citi jumps to second place overall in benchmark Euromoney survey
Offshore renminbi now $2.7 billion-a-day market; One hub for each time zone likely
There needs to be universal agreement on what is shadow banking to tackle its regulation.
Barclays has revealed that its Barclaycard operation in the US is to offer online savings in a bid to increase US-based deposits.
A top IIF official slammed the implementation of new financial rules amid darkening economic data
Former central bank policy committee member Yu Yongding told Emerging Markets in an interview that China should allow as much as a tenfold expansion of its current RMB trading band
Finance executives cheered plans by Beijing, Tokyo and Seoul to buy each other’s bonds as another possible step towards internationalizing China’s currency
The end of QE support means that markets must face up to a repricing of assets on the basis of economic reality.
In an exclusive interview with Euromoney, a member of the Bundesbank executive board says shadow banking is the greatest concern to regulators, who still do not fully understand its impact on the financial system
With primary Asian equity markets quiescent so far this year, ECM bankers are hopeful that the well-supported IPO expected from Haitong Securities will spark off an issuance revival.
The prospective development shines a light on the growing role for third-party western asset managers to oversee a slice of China’s foreign exchange reserves
Banks enjoyed a good end to the first quarter in equity capital markets, but the benign conditions that prompted deals might have come to an end.
May 2012
April 2012
EuromoneyFXNews’ inaugural e-trading survey reveals that buy-side clients expect the move from voice trading to electronic trading to build momentum, with single-dealer platforms gaining favour as application programming interfaces stall.
The eurozone enjoys its strongest quarter since March 2010 in the latest results of Euromoney’s country risk survey, as European policymakers finally come to grips with the crisis. But lower scores for Greece and France suggest Europe is not out of the woods yet. Andrew Mortimer reports
March 2012
Expansion in the region to take advantage of rapid economic growth and the opening of operations elsewhere in the world are core themes among Latin America’s best-managed companies.
Brazil, Colombia and Chile receive their highest ever scores in Euromoney’s Country Risk survey, benefiting from improved macroeconomic policies and the region’s robust economic growth. But Mexico, Argentina and Venezuela are riskier than a decade ago.
The big players continue to dominate a profitable business line. But some investors are looking to challenge their hegemony by moving into market making as well as proprietary risk taking.
February 2012
To be the best, firms need positions of strength in the US, Europe and emerging markets. Being big in only two regions is no longer enough.
For many in the capital markets, 2011 was a year to forget. But it’s in times of crisis that the best advisers come to the fore. Which deals hit the sweet spots over the past 12 months, when markets were like a box of chocolates – you never knew what you were going to get?
January 2012
The shadow of economic gloom has fallen over output, while Basle III is playing havoc with the rulebook for funding. Success relies on access to US dollars, and losses will drive up prices – unless the rules can be changed or new players join the market
We aren’t trying to turn ICBCI into a western investment bank. Our aim is unquestionably to build a global investment bank with Chinese characteristics
Mary MacLeod, deputy CEO of ICBCI
Special focus: GrexitHow to hedge amid Grexit, Europe editionBack to the stone age: Venezuela now much safer than GreeceInvestors rush to havens as eurozone woes intensify; speculators abandon EUR, AUDIIF sees dire consequences of disorderly Greek default Portugal: The domino that should not fall
