December 2011
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LATEST ARTICLES
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Does a failed Bund auction last month reveal serious investor concerns about Germany’s credit fundamentals if treaty changes lead to closer fiscal union and put it on the hook for the periphery’s debts?
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FIG issuance to collapse; Corporates could be bright spot
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Near record bets against single currency; Banks road test Greek exit
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Sales and trading volumes slump in third quarter but CVA masks true extent of damage.
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The demise of MF Global shows that, more than three years after Lehman, financial watchdogs remain miles off the pace. But there is a solution.
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Press offensive launched; Q&A faux pas
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Risk from a large dealer failure; Window dressing of exposure common
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Rebuilding Europe’s banks will take a long time and cost a fortune. Ireland, which has done more than any other country to rebuild and right size its banking system, offers important lessons for this process.
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Politicians and market participants, seeing investors turn their backs on the EFSF and abandon the European government bond markets, are pressing the ECB to save the day and increase its buying. That will require a dramatic change of heart. And could an already stressed ECB balance sheet even cope with the demands that such a programme would entail?
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Banks are under pressure to improve controls against corrupt practices as the UK’s 2011 Bribery Act kicks in and increased use is made of the US Foreign Corrupt Practices Act.
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Banks are turning to the covered bond market to replace prohibitively expensive senior unsecured funding, fuelling anxious investors’ concerns over encumbrance levels. But should they be looking closer at claims elsewhere on the balance sheet?
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The near-term dangers in emerging markets remain high, even assuming a breakthrough in the eurozone crisis – and emerging Europe is most at risk.
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As a seventh bank is taken under state control, Spain faces a race against time to deal with its bad real estate assets before they contaminate the entire banking sector. A bad bank could be the only solution, despite opposition from bankers and politicians.
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Gas exploitation set to reduce US deficit; SWFs will have less influence on dollar’s value
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Universal banks need retail revenues more than ever as investment banking profits plummet. The US industry is facing its biggest challenge as some 7,000 banks battle to make their business models work. The main battleground: deposits.
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There is no solution to indebtedness and the inevitable and painful process of deleveraging, so lean back and protect yourself like Muhammad Ali and the US Congress.
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In the past two years, Deutsche Bank has enjoyed strong growth in its debt capital markets business in Latin America – its eighth autonomous region. Now Bernardo Parnes, its regional chief executive, reveals his plans to take on the competition in equities and M&A.
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Unless crucial links in the chain of contagion are broken and sufficient resources are provided to cover all sovereign liabilities, the eurozone is doomed.
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Eurozone-based lenders dominate banking in central and eastern Europe. They have faced writedowns and intransigence in parts of the region. But good profit growth means the CEE is still the central focus of their business.
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Foreign exchange provides the best return on equity of any capital markets business. To drive more volume through their franchises, banks need a successful prime brokerage business. For RBS, it holds the key to making up lost ground in foreign exchange.
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Microfinance has its problems, but it can drive the economies of developing nations. So what if it wasn’t there? To find out, Euromoney went to the former Soviet republics of Tajikistan and Kyrgyzstan to meet its lenders and clients.
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The allure of public listings has been tarnished by offshore scandals while banks are tightening their lending, forcing CEOs of China’s most dynamic companies to look to new funding sources. Is the offshore IPO market dead?