Project Neptune rising…

Project Neptune rising…

… amid renewed liquidity concerns

Too quick to PIK?

Too quick to PIK?

The deals set to haunt European high yield

More from News & Opinion


Correspondent banking cutbacks claim new victim

Correspondent banking cutbacks claim new victim

November 2014

The Central Bank of Seychelles has taken full control of one of nine banks on the Indian Ocean archipelago, in one of the clearest examples yet of the impact of global banks exiting correspondent banking relationships.


'Super-systemic' CCPs need a TLAC of their own

November 2014

If forthcoming regulation fails to guarantee robust loss-absorbing capacity at central clearing counterparties (CCPs), their increasing systemic importance could usher in a new generation of organizations that are too big to fail.

Currency hedge funds continue to disappoint

November 2014

It has been a chastising few years for currency hedge funds. Several high-profile currency managers have closed down due to poor performance while many that have survived have struggled with redemptions. But some hedge fund allocators are predicting an imminent return to form for FX strategies.

Romania risk falls after surprise election result

November 2014

Romania’s country-risk score improved slightly in the immediate aftermath of the Klaus Iohannis’s surprise election victory, as participating economists cautiously signalled their optimism over the likely policy direction the country might now take.

Setting the foundations of standardization

November 2014

There is much discussion around moving towards a standardized form of banking, but who is setting the standard?

Fix fines fuel technology gold rush

November 2014

Technology companies are gearing up for a potential gold rush around FX benchmark trading, amid expectations the multi-billion dollar fines imposed on banks last week will accelerate appetite for solutions to boost transparency, oversight and pricing, analysts say.

Riksbank under pressure for radical action amid deflation

November 2014

Despite cutting rates to a record low of 0% end-October, the Swedish Riksbank is under increasing pressure to launch more radical action – from asset purchases, QE and a dual mandate that includes employment, to a currency floor – as deflation fears grow.

China: Stock Connect through train steams ahead

November 2014

The eagerly awaited Stock Connect system connecting Hong Kong to the mainland is up and running to relief all round. While traditional long-only funds and southbound flows have lagged, market players foresee a new dawn in Chinese equity trading.

Angola sets sights on capital-markets reform

November 2014

The development of Angola's capital markets has been long promised but recent indications from the country's capital-markets commission suggests secondary public-debt trading could begin as early as next month. Nevertheless, it's unclear when the stock exchange will open its doors.

Bundesbank’s Dombret says trust restored in European banking system

November 2014

In an interview with Euromoney, Bundesbank board member Andreas Dombret sounds an upbeat note on the rigour of the ECB’s asset-quality review (AQR) and the eurozone’s resolution arrangements, but issues a sharp warning over banks’ risk-free treatment of sovereign debt.

Collaboration could ease KYC burden

November 2014

Meeting KYC requirements is an irksome and expensive task for banks to contend with. But there are a slew of offerings from financial-services companies to ease the compliance burden.

Russia’s risk score plummets to its lowest since 1998 default

November 2014

As sanctions and falling oil prices force the rouble’s slide, country risk experts are questioning the ability of privately owned and/or state-backed banks and corporates to obtain credit and repay their debts amid capital flight and an economy in decline.

Russian bank risks jump as Europe's halves

November 2014

The latest results of a systemic risk index reveal elevated risks in Russia, Portugal and France but a generally marked improvement across the rest of Europe.

$4.2 billion FX fines are just the beginning

November 2014

Investment banks are keen to close the chapter on the foreign-exchange rate-rigging scandal after Wednesday’s announcement of regulatory fines totalling $4.2 billion, but more banks are expected to be fined and industry participants believe other nefarious practices should now be thoroughly investigated.

Emerging markets: special focus

November 2014

A cyclical blip in a structural bull market or a fundamental re-appraisal of the growth and investment prospects in developing economies? Euromoney wades into the debate about the recent bear run in emerging markets and provides coverage of FX, fixed income and equity market trends.

US dollar: special focus

November 2014

The dollar suffered as a result of the Federal Reserve's massive quantitative easing programme. In 2012 it was the second-weakest performing G10 currency after the yen. That helped extend the bear trend that the dollar has been trapped in since 2002. But now, sentiment towards the dollar appears to be turning. Many believe that US growth is set to be the strongest among developed nations and that, while it will not happen immediately, the Fed will be the first among the world's big-three central banks to start withdrawing monetary stimulus. Could the 11-year regime of dollar weakness be about to end?

China: special focus

November 2014

From rebalancing of the economy and financial reform to the internationalization of the renminbi, Euromoney sheds light on China’s economic challenges amid the global spotlight.

Russia central bank attempts rouble crisis circuit-breaker

November 2014

Analysts support the Central Bank of Russia’s (CBR) response to the collapse of the rouble, arguing it will shift market expectations and could stabilize the currency in the medium-term. In an interview with Euromoney before the move, a CBR official discusses the opportunities and challenges in the regime shift.

Industry divided as regulators mull NDF clearing

November 2014

European proposals for mandatory clearing of non-deliverable forwards (NDFs) published in October seemed to be a decisive step toward a new framework for FX derivatives trading. However, responses to the consultation reveal deep divisions among FX market participants over the way forward.

Russia-Ukraine conflict: special focus

November 2014

Euromoney's coverage of the economic and financial fallout from the conflict.

Financial regulation: special focus

November 2014

Hidden FX charges total $18 million a year – study

November 2014

Asset managers are still losing millions of pounds a year in hidden foreign-exchange bank charges, research shows, despite the advancement of money-saving solutions such as independent live benchmarks and transaction cost analysis (TCA).

Corporates facing risks with open-account trading

November 2014

Companies are increasingly using open-account transactions again to facilitate mutual global trade, but by almost cutting out trade-finance banks entirely, companies are opening themselves up to risks.

Lessons from the National Commercial Bank IPO

November 2014

The overwhelming retail demand for the Saudi bank’s $6 billion listing raises questions about how the country’s equity market will respond to its opening up to foreign investors.

Japanese portfolio flows support weaker yen but raise default risk

November 2014

Long-awaited changes announced last week to the composition of Japan's state pension fund portfolios, combined with increasing flows into foreign – predominantly US dollar – assets from retail investors and the insurance sector, should weaken the yen, but could be storing up problems in the long term.

Swiss franc volatility rises on gold vote

November 2014

Implied volatility on the Swiss franc has risen sharply in recent days, amid speculation that a referendum at the end of this month might force the Swiss National Bank to greatly increase its gold holdings.

Amrolia to lead Deutsche Bank digital drive

November 2014

FX market veteran takes up new role developing digital technology and reducing business complexity across Deutsche Bank’s markets platform

Zar Amrolia: special focus

November 2014

Private banking and wealth management survey 2015

November 2014

Euromoney magazine's 12th annual Private banking and wealth management survey will be live online February 2015.

Big data comes to FX

November 2014

The analysis of structured, semi-structured and unstructured information from multiple sources, commonly referred to as ‘big data’, could improve FX pricing as well as reduce the potential for regulatory infringements, according to technology experts.