Reverse repo to influence non-bank interest rates; money-market funds and GSEs swap cash for collateral.

As September draws to a close, I am starting to wonder if I am living in a parallel universe. Ben Bernanke seems to have gone barmy. And I wouldn’t blame him. Saving the financial world from itself has been a Herculean task.

And talking of Lehman’s bankruptcy, I was intrigued to read an opinion editorial in the Financial Times written by Bob Diamond, the former chief executive of Barclays Bank. Bob of course pounced on the corpse of Lehman Brothers as it was drowning and made off with a succulent limb: the US broker-dealer operations.

Is Bank of America on an upward trajectory? Am I the only person to notice that Bank of America’s economists were a lone voice insisting that the Federal Reserve would not taper in September? Nice call BAML!

The IMF’s loss has been Mexico’s gain. Euromoney’s Central Bank Governor of the Year, Agustín Carstens, continues to keep a steady hand on the economy’s tiller, his orthodoxy mixed with pragmatism that is helping to propel the country forward. He remains outspoken about the need for reform at the IMF.

Singapore matters. The city-state continues to blaze a trail for the region by shifting its growth model in favour of productivity, securing its presence at the top level of international financial diplomacy. Tharman Shanmugaratnam, Singapore’s finance minister – and Euromoney’s Finance Minister of the Year 2013 – outlines his reform agenda and issues a sharp warning on reform inertia in the region, China’s growth model and destabilizing capital flows.

Local banks like to see themselves as uniquely suited to offering cash management services to Brazilian companies. But the global banks are also getting up to speed on idiosyncratic client requirements and local regulation.

Sibos in Dubai was abuzz with a new spirit of confidence and collaboration among banks, but beneath the surface the battle to secure existing clients by doing more with them and to attract new ones is intensifying.

The more exacting capital requirements of Basle III are prompting cash management banks to fine-tune their offerings.

Demand for sophisticated cash management services in China is rising as the authorities press for greater business efficiency at home and Chinese corporates expand their foreign operations. Renminbi liberalization is another driver.

Forget about the Belgian dentists and German doctors of old. Today, Luxembourg’s streets are filling with Chinese bankers. They see the Grand Duchy as a hub for their European operations – not least for trading and settlement of the renminbi. Are London, Frankfurt and Paris in danger of being left behind?

HSBC held off the challenge of Citi to hold on to top spot for both corporates and financial institutions in our 2013 rankings. Find out what almost 24,000 voters thought of cash managers in more than 50 countries.

Industrial and Commercial Bank of China’s European headquarters in Luxembourg City is a prime piece of real estate.

Dell’s bumper LBO shows the high yield pendulum has swung back to loans as investors seek floating-rate exposure.

Short-term rates must rise; Equities to reverse 20-year underperformance

Long-only buyers reassert influence; $62.8 billion issuance year-to-date.

S&P points to heightened operational risk; Nasdaq cushioned by diversification

Funding more costly, but less so than expected; Colombia, BNDES and Mexico lead the way

Focus on income tax and capital gains; Measures promised to reduce number of unbanked

Big increase in regional private equity activity; particularly attractive metrics in Brazil.

Act now, bankers advise; Weaker names to struggle

"The day one of the big oil companies first invoices China for oil in renminbis and receives payment in Chinese government bonds as result is what will really open people’s eyes"

"The first person to hire me in the 1980s hired me to buy bonds for him because he simply couldn’t take the pain of doing it himself any more. He had been investing in bonds for 10 years and had never seen anything go up"

London should be wary of the Duchy’s ambitions to become Europe’s RMB hub.

High hopes for sweeping reform; Li says country is at crucial juncture

Issuer ‘comes of age’; creates first euro benchmark.

State Islamizes banking sector; Potential impact on global sukuk market

S-1 filed in secret; Market capitalization could be $16 billion

Partnerships can enable global reach; Clients helping to drive this development

The path to success in investment banking these days is pretty much preordained: top university, first-class degree, ball-breaking spell as an intern, some sort of post-grad qualification and no time for any outside interests.