The why and how of GSE reform

The debate on how to reform the government-sponsored enterprises (GSEs) that now so dominate US mortgage finance has been raging almost from the minute they were taken into conservatorship by former Federal Housing Finance Authority director James Lockhart on September 6 2008.

Junior preferred shareholders sue for GSE payouts

One of the most audacious punts in the market has been the bet by holders of junior preferred shareholdings in Fannie Mae and Freddie Mac that the liquidation of the agencies in their current form will translate into a payday for junior creditors.

Liquidity: Fixing the present system

Amid the litany of complaints against the sell side, one trader at a large investment manager bemoans the continuing pretence of some banks that they are big traders in many instruments across all markets to all investors.

The Asean alternative emerges

As growth in China falters and India seems to spiral ever more helplessly downward, southeast Asia has become central to the fortunes of banks in the Asia-Pacific region.

Lebanon’s Salamé stresses resilience and stability

In an exclusive interview, Riad Salamé, the longstanding governor of Banque du Liban, discusses Lebanon’s perpetual political and economic challenges, the resilience of its banks and the prospects for needed structural reform.

Singapore: DBS continues to dominate

Singapore’s status as a regional hub and burgeoning centre for private banking attracts many global banks, but local bank DBS maintains its pre-eminence.

Chile’s banks focus on home market

With room to grow domestically, and foreign stakeholders in two of the biggest banks already active in the region, there is little incentive for Chile’s banks to expand abroad.

Andean banks go regional

Banks in Chile, Peru and Colombia are building platforms across the Andean region as a single commercial market between the three countries develops.

Mexico’s economy comes of age

Despite the broader reassessment of emerging market investment, Mexican debt and equity issuance is sustaining and enhancing its appeal in international markets.

CRT: Building blocks of Brazil’s first project finance bond

CRT was a natural candidate to open the project finance bond market in Brazil because the sponsors of Rodovias do Tietê are Atlantia Bertin Concessões (a 50/50 joint venture of Atlantia and Bertin), and Ascendi (a 60/40 joint venture of Mota-Engil and Banco Espírito Santo).

Miroslav Singer: Gunning for intervention

Famed for his tough approach to regulation, Czech central bank head Miroslav Singer now has his sights set on currency market intervention to reflate the country’s flagging economy.

Jin-Yong Cai: An activist at the IFC

The new head of the International Finance Corporation, Jin-Yong Cai, tells Euromoney about the need for the World Bank’s private-sector arm to take more risks and be more activist in developing policy ideas in such areas as infrastructure development and poverty reduction.

Standing up to Too Big to Fail

Richard Fisher, president of the Federal Reserve Bank of Dallas, tells Euromoney why no bank is too big to fail and why Texas has much to teach the rest of the US economy