December 2011
| Euromoney December 2011 Politicians and market participants, seeing investors turn their backs on the EFSF and abandon the European government bond markets, are pressing the ECB to save the day and increase its buying. That will require a dramatic change of heart. And could an already stressed ECB balance sheet even cope with the demands that such a programme would entail? |
Euromoney December 2011
As a seventh bank is taken under state control, Spain faces a race against time to deal with its bad real estate assets before they contaminate the entire banking sector. A bad bank could be the only solution, despite opposition from bankers and politicians.
Euromoney December 2011
Rebuilding Europe’s banks will take a long time and cost a fortune. Ireland, which has done more than any other country to rebuild and right size its banking system, offers important lessons for this process.
Euromoney December 2011
Universal banks need retail revenues more than ever as investment banking profits plummet. The US industry is facing its biggest challenge as some 7,000 banks battle to make their business models work. The main battleground: deposits.
Euromoney December 2011
Talk of a Chinese property bubble and potential crash is misleading. The country’s real estate sector is as varied as China itself. But what unites Chinese property investors, and the government, is concerns about the pace at which building continues, prices are falling and the extent of exposure in a growing shadow banking sector.
Euromoney December 2011
The allure of public listings has been tarnished by offshore scandals while banks are tightening their lending, forcing CEOs of China’s most dynamic companies to look to new funding sources. Is the offshore IPO market dead?
Euromoney December 2011
Banks are turning to the covered bond market to replace prohibitively expensive senior unsecured funding, fuelling anxious investors’ concerns over encumbrance levels. But should they be looking closer at claims elsewhere on the balance sheet?
Euromoney December 2011
Foreign exchange provides the best return on equity of any capital markets business. To drive more volume through their franchises, banks need a successful prime brokerage business. For RBS, it holds the key to making up lost ground in foreign exchange.
Euromoney December 2011
Microfinance has its problems, but it can drive the economies of developing nations. So what if it wasn’t there? To find out, Euromoney went to the former Soviet republics of Tajikistan and Kyrgyzstan to meet its lenders and clients.
Euromoney December 2011
In the past two years, Deutsche Bank has enjoyed strong growth in its debt capital markets business in Latin America – its eighth autonomous region. Now Bernardo Parnes, its regional chief executive, reveals his plans to take on the competition in equities and M&A.
Euromoney December 2011
Banks are under pressure to improve controls against corrupt practices as the UK’s 2011 Bribery Act kicks in and increased use is made of the US Foreign Corrupt Practices Act.
Euromoney December 2011
Eurozone-based lenders dominate banking in central and eastern Europe. They have faced writedowns and intransigence in parts of the region. But good profit growth means the CEE is still the central focus of their business.
Euromoney December 2011
Deposits flow to US banks; Syndicated loan market opens up
Euromoney December 2011
Senior unsecured debt appears unfeasible; Italy could repeat Spanish funding war
Euromoney December 2011
China’s reserves offset imbalance; HSBC and Standard Chartered benefit
Euromoney December 2011
Sovereign support essential; Bank stocks at distressed levels
Euromoney December 2011
Press offensive launched; Q&A faux pas
Euromoney December 2011
FIG issuance to collapse; Corporates could be bright spot
Euromoney December 2011
Risk from a large dealer failure; Window dressing of exposure common
Euromoney December 2011
Near record bets against single currency; Banks road test Greek exit
Euromoney December 2011
Gas exploitation set to reduce US deficit; SWFs will have less influence on dollar’s value
Euromoney December 2011
New channels for domestic investment; Eastern governments pay lower premiums
Euromoney December 2011
Euromoney December 2011
Predominant retail investors deterred; Stability favoured over market growth
Euromoney December 2011
Santander cashes out in Chile; HSBC puts up Losango
Euromoney December 2011
Investors offered a banking growth story; No shortage of liquidity
Euromoney December 2011
BR Partners enters investment banking; Acquisition route proves quickest
Euromoney December 2011
China-style system; Test trades completed
Euromoney December 2011
Mortgage lenders under threat; Fischer clashes with housing chief
Euromoney December 2011
Euromoney December 2011
Euromoney December 2011
PM vows to retain economic sovereignty; Moody’s downgrades bonds to junk status
Euromoney December 2011
Mercator talks extended; NLB seeks new capital
Euromoney December 2011
The demise of MF Global shows that, more than three years after Lehman, financial watchdogs remain miles off the pace. But there is a solution.
Euromoney December 2011
Sales and trading volumes slump in third quarter but CVA masks true extent of damage.
Euromoney December 2011
The near-term dangers in emerging markets remain high, even assuming a breakthrough in the eurozone crisis – and emerging Europe is most at risk.
Euromoney December 2011
Lack of repossessions hides extent of US’s dire economic situation.
Euromoney December 2011
The UK banking system is reasonably well fixed, but relentless regulatory pressure renders it useless to the real economy.
Euromoney December 2011
Decoupling the country’s economy from inflation will take a long time and prevents long-term credit from developing.
Euromoney December 2011
Focus Media’s plight shows how quickly a short report can smash a company.
Euromoney December 2011
Euromoney December 2011
Bank of America recently issued a footnoted warning in a regulatory filing about $11.5 billion of additional collateral payments on derivatives it faces because of rating agency downgrades. At the end of September the bank was on the hook for $4.9 billion of extra collateral that it might be required to pay but had not yet posted, including $3.2 billion linked to its September 21 downgrade by Moody’s.
Euromoney December 2011
The decision by Congressman Barney Frank not to seek re-election to the US House of Representatives next year could result in an unexpected financial windfall for some employees of Goldman Sachs.
Euromoney December 2011
There is no solution to indebtedness and the inevitable and painful process of deleveraging, so lean back and protect yourself like Muhammad Ali and the US Congress.
Euromoney December 2011
Unless crucial links in the chain of contagion are broken and sufficient resources are provided to cover all sovereign liabilities, the eurozone is doomed.
Euromoney December 2011
Does a failed Bund auction last month reveal serious investor concerns about Germany’s credit fundamentals if treaty changes lead to closer fiscal union and put it on the hook for the periphery’s debts?
Euromoney December 2011
Euromoney December 2011
Euromoney December 2011
Euromoney December 2011
Euromoney December 2011
Euromoney December 2011
