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Fresh from big spending on China’s state lenders, global banks are lining up to buy into its securities industry.

Sales of non-performing loan and real estate portfolios to foreign investors have stirred controversy in Germany, with the buyers being described by a senior politician as “a plague of locusts”. But the medium-term benefits could go beyond a much-needed injection of liquidity and balance sheet repair and provide a fresh impetus to the German economy.

Venezuela’s president is also unlikely to endear himself to Washington after saying that he has sold $20 billion of foreign reserves, mostly in US treasuries, over the past four months and deposited the funds at the Bank for International Settlements in Basle. A central bank director admitted that Venezuela had sold some of its holdings of treasuries, citing financial reasons. Some analysts, though, reckon the move was motivated more by political reasons.

Regulatory pressure has forced a crackdown on transaction delays.

632 The number of entities at risk of downgrade as of mid-September this year, according to a report from Standard & Poor’s.

Turkey looks set to be the next great EU convergence play. Now foreign banks want a piece of the aciton. But the owners of the country's financial institutions are seeking to form strategic partnerships rather than relinquish ultimate control. Kathryn Wells reports.

This article appears courtesy of Institutional Investor

Fears of oversupply fade in Europe.

Korea’s love-hate relationship with foreign capital continues. In October, the government announced that it would be seeking tax payments totalling $210 million from five foreign private-equity investment firms that relate to profits earned from investments in Korean businesses.

South Africa’s Standard Bank is poised to buy Bank of America’s Argentina business, although an agreement is unlikely before the end of the year. Standard Bank is leading a group of buyers for BankBoston Argentina, including two wealthy Argentine families. The acquisition would consolidate Standard’s Argentine presence after it announced that it was also waiting for regulatory approval for its purchase of ING’s local unit. Bank of America’s decision to sell is another indication of its retreat from the region. Last year it sold its commercial banking unit in Panama and has also said that it intends to dispose of its businesses in Colombia and Peru. The bank has also announced that it is selling its asset management business in Mexico.

Why CFOs should stop mistrusting hedge funds

Zhou Xiao Chuan, governor of the People's Bank of China, tells Sudip Roy why the renminbi was revalued and what financial reforms are next on the agenda.