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WireTap 0900 12/01/12

A round-up of the key stories across the specialist financial media, including news that RBS are cutting 3,500 jobs.

RBS to cut 3,500 jobs as it exits mergers

RBS are to cut 3,500 jobs at its investment bank over the next three years as it exits its unprofitable cash equities and mergers advisory operations.

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China names offshore renminbi bond issuers

China has granted 10 banks quotas to sell a large amount of offshore renminbi bonds – the first public disclosure of such a list.

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Reversal of fortunes in debt market

Emerging market countries are taking advantage of increasing investor demand in bond markets to sell debt at record low yields.

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Greek bond swap falling short, governments may fill gap: sources

Talks with private sector creditors on a second Greek bailout are going poorly, according to senior European bankers, raising the prospect that eurozone governments will have to increase their contributions.

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Japan and Canada warn on Volcker rule impact

Foreign governments and asset managers are arguing against the implementation of the Volcker rule due to concerns that a ban on proprietary trading could trigger a liquidity crunch.

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