Leveraged finance

Leveraged finance

The threat to corporate America

Navigating Africa’s disparate markets

Navigating Africa’s disparate markets

Simplifying the investment process



News and opinion


Features

  • Regulation: Banking's next big hits

    Regulation now utterly dominates the banking industry and will have an even bigger impact in 2015, not just on bank capital and returns but on the entire legal structure of the industry.


  • The next regulatory battle: bank structures

    From the Volcker Rule to the EU’s proposed ring-fencing, inconsistent rules on bank structures, both within the EU and between the US and Europe, are the latest threat to the global banking model.


  • Corporates face long shadow of Ukraine

    The crisis in Ukraine shows no sign of abating and its impact is being felt across the rest of emerging Europe. Phil Bennett, deputy head of the European Bank for Reconstruction and Development, explains why this is bad news for the region’s companies and what multilaterals can do to help.


  • Hungary tells banks: shape up or ship out

    Foreign banks are finding it hard to make their operations in Hungary pay. They say they are still committed to the country. So what will they make of the finance minister’s public call for consolidation?


  • Municipals: ripe for disruption?

    Want to see improvements to your town or city? Don’t just rely on municipal budgets. New crowdfunding sources are springing up. The disruptors even have municipal bond markets in their sights.


  • Leveraged finance: The threat to corporate America

    Multiples and lack of covenants in the leveraged finance market are firmly in the firing line of US regulators. Sponsors say they can handle the new rules. Banks are already looking for ways round them. But with regulators hell-bent on proving a point in 2015, what will happen when a leading US company struggles, or fails, to refinance a cov-lite loan?


  • Thomas Hoenig interview: Battle against too-big-to-fail fragments banking

    Haunted by the global crisis, policymakers from the US to the UK are erecting national barriers and waging a war against too-big-to-fail banking. Vice-chairman of the Federal Deposit Insurance Corp Thomas Hoenig defends the drive toward balkanization.


  • Regulators still calling the shots

    If systemic risk in the banking system really has been reduced as much as chief executives say, why are regulators set to have an even greater impact in 2015?


  • Russia risks derailing banks’ regional plans

    As Europe has stagnated since the financial crisis, Russia proved an invaluable source of returns for a handful of lucky western banking groups. But with Putin on the offensive, the rouble on the slide and recession on the horizon, its days as an engine of regional growth look to be over.


  • Regulation: EU-US tensions remain over leverage ratio

    US officials are waging a war to promote the leverage ratio as a binding constraint on banks’ capital frameworks, further imperilling strategic planning for cross-border lenders.


  • Correspondent banking: Clear & present danger

    A barely noticed bank rescue in the Seychelles should be a warning to all. As the cost of compliance and enforcement risk drives global firms to cut back their correspondent networks, many banks are in danger of losing the vital lifeblood of a dollar-clearing partner.


  • Regulation puts global banking in peril

    Don’t believe the G20 hype. In interviews with Euromoney, the world’s top financial policymakers admit regulatory tensions are tight. What’s more, the collateral damage of the focus on too-big-to-fail, capital rules and bankruptcy resolution risk rolling back financial globalization. Is it time to change the terms of the discussion?






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