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Everyone's memory is different, some have no memory at all. But a handful of deals appear to stand out as those that broke new ground and had even competitors tipping their caps in admiration. No fewer than three people, at exactly the same time, apparently saw ducks floating in the bath and leapt out shouting "Eureka" - the birth of the floating rate note. Few firsts have such a canard attached, but they are all now part of Euromarket mythology. By Rebecca Bream.

The credit market in Eurobonds is becoming deep and varied. For the first time, corporates - including lower-rated borrowers - are driving the market. Securitization and hybrid debt are taking off as well. But which firms are best placed to sell these products to European investors? Marcus Walker reports.

Two months ago, Stephen Saali had plans. The bank of which he is president, Republic New York Corporation, had been through a rough six months. Republic, which is ultra-conservative in its approach and proud of it, had tarnished its image with a $200 million loss betting on Russian treasury GKOs during the Russian crisis, and reported a third-quarter loss as a result.

Sicily's wait for money is over. The regional government found itself nearly L1.7 trillion ($1 billion) late last year and over 40 banks refused to lend. Nor was there interest in a local bond issue.

Middle East: Arab banks lay regional plans

This year's splurge of big M&A deals have upped the pace in the race to be Europe's top M&A adviser.

Middle East: Arab banks lay regional plans

Middle East: Arab banks lay regional plans

Since Russia and LTCM, risk managers have been searching for a better way to value financial firms and the risks they run. Amazingly, they and their regulators temporarily lost sight of an important relationship - between financial assets and the way they are funded. David Shirreff reports on a meeting at the sharp end of firm-wide risk management

It's not just the tragic events in Kosovo that are hitting the economies and financial assets of central Europe. The current state of the European Union isn't helping either. It's ironic that, just as central Europe's reorientation towards the EU once underpinned its post-communist revival, it's now proving to be its nemesis. Slow growth in the EU this year means big external financing gaps for Poland and Hungary. Germany, which accounts for around 30% of the region's exports, is crucial. But the collapse of demand from Russia, which accounts for another 5% to 8% of exports, doesn't help.