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Public-sector banks in Europe have hit on a new and potentially profitable idea. They're trying to turn themselves into localised versions of the universal banking model. Who are some of the successful early movers? And we look at how Europe's cooperative banks are teaming up in debt capital markets.

Íslandsbanki's acquisition of BNbank in Norway marks a significant acceleration in its growth plans. A small deposit base means the bank has to actively seek diverse sources of funding

The experience of the high-yield sector shows synthetic risk can boost an illiquid product

The suspension by the World Bank of a loan to Ecuador should concern the world's poorer countries

Flexibility is the watchword as the UK regulator clarifies its guidelines on capital ratios

Far from bowing to international pressure, China's renminbi revaluation shows it is firmly in control of its own destiny

Mandated offerings, rather than auctions, offer the best chance for a successful sale

As Kazakhstan prepares for an election, foreign institutions should remember that autocrats are of little benefit to investments in the long run

Strategic buyers are getting increasingly bullish about M&A opportunities. So far this year, though, they haven't stolen any of the thunder of financial sponsors

Alpha-driven US volume growth starts to outpace that in UK

CFOs are in danger of becoming slaves of the leveraging cycle. It might be in their best interests to resist bankers' blandishments