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The Federal Deposit Insurance Corporation recently issued a statement laying the foundations for the regulation of a US covered bond market, specifically concerning the preferred treatment of bondholders in the event of an issuer default.

The audience fell silent as they listened to his advice: don’t buy things you don’t understand; if you wouldn’t buy something, don’t sell it to anyone else; and don’t lend money to customers you don’t know.

The strong performance of BBVA and Santander can’t mask the impact of a looming housing crash on domestic institutions.

FXCM posts strong second-quarter revenues.

After years of benefiting from the strong economic performance of the Baltic states, Sweden’s Swedbank is now seeing the downside of its exposure to the region in the wake of the recent sharp slowdown in growth.

Finance sector ECM Banks and agencies raised $108.5 billion via 81 deals globally in the second quarter of 2008, up from $32.9 billion via 49 deals in the first quarter of the year, and year-to-date issuance already surpasses the total amount raised in 2007 ($100.8 billion). ECM issuance by financial sector issuers accounted for 42% of all global issuance in the second quarter and 26% in the first quarter. Royal Bank of Scotland’s $24.3 billion rights issue via Goldman Sachs, Merrill Lynch and RBS is the largest ECM deal on record.

Standard Chartered Bank has relaunched the Shariah-compliant version of its online treasury FX trading and hedging platform under its global brand for Islamic products, Standard Chartered Saadiq. The bank says it is the first to launch online services in Islamic FX utilizing the wa’ad structure, which enables Islamic companies and institutions to hedge forward FX exposures under a Shariah-compliant structure.

I hate to be the ugly fairy at the wedding but I'm starting to wonder if John Thain will turn out ot be Merrill's messiah after all.

In India it’s simply called The Feud and, on July 18, after years of simmering, it finally boiled over. That day, Mumbai-based industrialist Anil Ambani was finally, unwillingly, forced to pull the plug on a planned telecommunications mega-merger between his flagship corporation Reliance Communications (RelCom) and MTN Group of South Africa.

Like other global investment banks that are rushing to send their best talent to the Gulf, UBS is seeking to take advantage of the opportunities there.

Regional buoyancy and declining opportunities elsewhere are pulling banks into the Gulf region, bringing with them research capability. Local firms still lead Euromoney’s poll but foreign rivals are coming up fast. Rupert Wright reports.

Cypriot finance minister Charilaos Stavrakis wants to cement his country’s role as a centre of capitalism.