Senior bondholders pushed into recapitalization; foreclosure debate highlights political risk.

In the second half of 2015 hype around the potential for shared ledger technology to transform banking rose to a peak. Now comes the hard work as banks and fintech companies seek to put test cases into actual use. As the first practical applications begin to emerge, Euromoney surveys the banking market to ask what’s next for the blockchain.

China is pushing ahead with capital account reforms but it needs to make sure its own house is in order first.

It might not have been a big player in Latin America, but Deutsche Bank had a reputation for sticking through the hard times.

Impressive growth could stall if dynamic local businesses don’t benefit from an opening up of the banking sector.

Proposed privatizations in central and eastern Europe need to be viewed with scepticism, as they have a habit of disappointing.

As direct and co-investment continues to grow, private equity firms must brace themselves for a fundamental change in their limited partner relationships.

Old-style market makers are under serious threat from non-bank dealers.

In Adel Al-Ghamdi, Saudi Arabia had an impressive cheerleader for its plans to open up its stock exchange to foreign investors, who warmed to his open, engaging style. So why did he suddenly resign?

The need for European bank consolidation is clear. Southern European banks are numerous small and poorly valued. But the good news is that consolidation is getting under way in Italy and the Iberian peninsula – particularly Spain. Bank M&A could accelerate, if and when regulatory uncertainty clears.

Saudi Arabia is six months into its programme to attract international institutional investors to its stock market. The verdict so far: an impressive willingness to listen and communicate, but slow progress in terms of getting any money in.

The government insists that its banking sector will remain closed to external investment. But can the country’s economy thrive without better access to international credit?

Road-building is a classic tool to boost a flagging economy. But as Luis Fernando Andrade, president of Colombia’s national infrastructure agency, tells it, it isn’t plain sailing.

With a struggling economy, Brazil will continue to rely heavily on its state development bank to provide long-term finance for crucial infrastructure projects, unless private-sector alternatives can be found.

In all financial markets, the biggest customers for liquidity providers are often other dealers.

The $150 million fine imposed on Barclays this week for abusing its last-look policy on clients' currency orders until as recently as three months ago signals another nail in the coffin for the controversial practice, say analysts.

A new government emphasizing Hungarian-style nationalist, unorthodox policies with increased public spending has raised uncertainty over Poland’s risk profile. However, the sovereign borrower is in a strong position and is less indebted than Hungary.

The sheer volume of legal documents pertaining to new regulation that banks must read and take action on across their businesses is a daunting and ever-growing mass that, if printed and piled up, ‘would stretch for a kilometre into the sky’.