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Cover Story

Mapping The Bank Regulation Maze

COVER STORY: BANKING Bankers and regulators are beginning to lay out the future structure of the global financial industry. In the short term, it is set to be a deeply confusing place. By Nick Kochan It must never happen again! ...

Features

Features: Analysis - Accounting Standards

CONVERGENCE OR CONVERSION? Multinational corporations face a less confusing future as US and international groups work toward accounting standards convergence. By Amy E. Buttell After 15 long months, the US Securities and Exchange Commission (SEC) in February finally tackled the ...

Features: Custody Buyer's Guide

GLOBAL & SUB-CUSTODIANS Global Finance presents its annual sponsored guide to the leading providers in the global and sub-custody market. GLOBAL CUSTODIANS BNP Paribas Securities Service Custody Assets: 2009: $5.8 trillion 2008: $4.7 trillion Ratings: Moody’s Aa2, S&P; AA, Fitch ...

Features: Focus - Trade Finance

REBUILDING TRUST IN TRADE Trade finance is stabilizing, but caution is the watchword in an industry still reeling from the effects of the financial crisis. By Anita Hawser Throughout the financial crisis, trade finance, that unglamorous function within a bank ...

Features: Regional Report - Southeast Asia

A FORCED TO BE RECKONED WITH The economically vibrant nations of Southeast Asia are forging closer links—and creating a regional powerhouse in the process. By Thomas Clouse While the world has focused its attention on China and India’s stunning economic ...

Features: Sponsored Roundtable - Sub-Custody

A CHANGING LANDSCAPE Sub-custodians are finding new ways to serve their clients as the shape of the post-crisis landscape becomes clearer. Moderated by Joseph Giarraputo Global Finance: What are the latest technology developments we should be aware of, and what ...

Emerging Markets Roundup

Features: Custody Buyer's Guide

GLOBAL & SUB-CUSTODIANS Global Finance presents its annual sponsored guide to the leading providers in the global and sub-custody market. GLOBAL CUSTODIANS BNP Paribas Securities Service Custody Assets: 2009: $5.8 trillion 2008: $4.7 trillion Ratings: Moody’s Aa2, S&P; AA, Fitch ...

Features: Focus - Trade Finance

REBUILDING TRUST IN TRADE Trade finance is stabilizing, but caution is the watchword in an industry still reeling from the effects of the financial crisis. By Anita Hawser Throughout the financial crisis, trade finance, that unglamorous function within a bank ...

Features: Sponsored Roundtable - Sub-Custody

A CHANGING LANDSCAPE Sub-custodians are finding new ways to serve their clients as the shape of the post-crisis landscape becomes clearer. Moderated by Joseph Giarraputo Global Finance: What are the latest technology developments we should be aware of, and what ...

Best Developed Markets Banks Awards

TOP BANKS BOUNCE BACK After two dismal years, the banking industry in the world’s developed markets is flourishing again. By Laurence Neville The recovery of the financial markets from March 2009 (and earlier in the case of many emerging markets) ...

Emerging Markets: Africa

Roundup By Antonio Guerrero Nigerian central bank’s energy fund has caused controversy South Africa’s $2 billion dollar-denominated sovereign bond issue in March marked the country’s largest-ever foreign-currency-denominated security. The 10-year paper carries a 5.5% coupon, which is the lowest rate ...

Emerging Markets: Brazil

Roundup By Antonio Guerrero Meirelles: Reining in Brazil’s stimulus measures Brazil’s central bank moved to tighten monetary policy by raising bank reserve requirements on term deposits from 13% to 15% as of April 9. The central bank had reduced reserve ...

Emerging Markets: China

Roundup By Thomas Clouse Brighter future: China promises better deal for rural citizens China’s top legislator has pledged to improve social services and better balance rural and urban political representation. Wu Bangguo, chairman of the Standing Committee of the NPC, ...

Emerging Markets: Emerging Equity And Bond Fund Flows Rise

Investor: News By Gordon Platt Investor flows into emerging market bond funds passed the $5 billion mark for the year to date in the week ended March 10 after posting their biggest weekly inflow in more than a decade, according ...

Emerging Markets: India

Roundup By Aaron Chaze Calling plan: Bharti Airtel is expanding into new markets As the Indian wireless markets become ever more competitive, local companies are looking overseas for potential growth. South Asia’s largest wireless carrier, Bharti Airtel, for example, is ...

Emerging Markets: Middle East

Roundup By Gordon Platt Signs of growth: Baghdad hosts a procession of bankers The International Monetary Fund approved a $3.6 billion loan for Iraq, the largest such loan the country has received. The two-year standby agreement will help Iraq implement ...

Emerging Markets: Nectar Lifesciences' GDR Raises Funds For Expansion

Investor: DR News By Gordon Platt Nectar Lifesciences, based in Chandigarh, India, makes active pharmaceutical ingredients (APIs), generic drugs and phytochemicals, such as mint derivatives, including menthol. In order to expand its generic pharmaceutical business and build new manufacturing plants, ...

Emerging Markets: Russia

Roundup By Kim Iskyan In a jam: Economic crisis hit Russia’s car market hard In late February prime minister Vladimir Putin rebuked four Russian oligarchs with significant investments in the country’s power sector for not following through on investment obligations ...

Milestones

Milestones: Export Growth Negates Taiwan Rescue Plan

Taiwan By Thomas Clouse Bellwether: DRAM sales portend export upswing Taiwan’s government dropped plans to restructure its dynamic random access memory (DRAM) industry last month after export growth and rising prices helped several of the island’s DRAM producers to post ...

Milestones: Lehman Report Boosts Case For Global Banking Reform

United States By Gordon Platt Valukas: Report raises fears over systemic risk The Valukas Report on the collapse of Lehman Brothers, a nine-volume, 2,200-page document that cost $38 million to produce, was worth every penny. The comprehensive “post mortem” on ...

Milestones: Reconstruction Spending Shores Up Economy

Chile By Antonio Guerrero Piñera: Hoping to promote economic growth, despite crisis The massive earthquake and subsequent tsunami that hit Chile in late February caused hundreds of deaths, as well as destroying some 500,000 homes and damaging infrastructure. Yet, as ...

Milestones: Sovereign Funds Benefit From Global Bounce

Global By Anita Hawser Abu Dhabi: Home of the world’s biggest sovereign wealth fund While the past couple of years have been challenging, to say the least, for investment funds in general, sovereign wealth funds (SWFs), some of which got ...

Corporate Finance

Corporate Finance: Corporate Debt

HIGH-YIELD DEFAULT RATE COMING DOWN By Gordon Platt The high-yield bond spread over US treasury securities is narrowing in anticipation of a steep decline in the default rate for below-investment-grade companies. Once the corporate sector is capable of sustaining economic ...

Corporate Finance: Foreign Exchange

DOLLAR’S RISE SLOWS AS DEBT PANIC IN EUROPE EASES By Gordon Platt The ability of Greece to raise significant funds in the bond market helped to calm investors’ nerves over the sovereign debt crisis in Europe last month, providing some ...

Corporate Finance: Global Equity/DRs

BRIC COUNTRIES TO LEAD CAPITAL RAISINGS USING DEPOSITARY RECEIPTS IN 2010 By Gordon Platt If central banks and government agencies around the world can exit accommodative monetary and fiscal policies smoothly, 2010 could be a good year for capital raising ...

Corporate Finance: M&A

BANKRUPT MALL OPERATOR WEIGHS OFFERS By Gordon Platt Simon Property Group, the largest US mall operator, is seeking to take over rival General Growth Properties and take it out of bankruptcy. The battle of the mall operators has taken a ...

Newsmakers

Milestones: Export Growth Negates Taiwan Rescue Plan

Taiwan By Thomas Clouse Bellwether: DRAM sales portend export upswing Taiwan’s government dropped plans to restructure its dynamic random access memory (DRAM) industry last month after export growth and rising prices helped several of the island’s DRAM producers to post ...

Milestones: Lehman Report Boosts Case For Global Banking Reform

United States By Gordon Platt Valukas: Report raises fears over systemic risk The Valukas Report on the collapse of Lehman Brothers, a nine-volume, 2,200-page document that cost $38 million to produce, was worth every penny. The comprehensive “post mortem” on ...

Milestones: Reconstruction Spending Shores Up Economy

Chile By Antonio Guerrero Piñera: Hoping to promote economic growth, despite crisis The massive earthquake and subsequent tsunami that hit Chile in late February caused hundreds of deaths, as well as destroying some 500,000 homes and damaging infrastructure. Yet, as ...

Milestones: Sovereign Funds Benefit From Global Bounce

Global By Anita Hawser Abu Dhabi: Home of the world’s biggest sovereign wealth fund While the past couple of years have been challenging, to say the least, for investment funds in general, sovereign wealth funds (SWFs), some of which got ...

Newsmakers: Europe Considers Emergency Aid Fund

Europe By Justin Keay Schäuble: Europe should be able to save itself Growing concern over the indebtedness and burgeoning fiscal deficits of some European countries has led Germany’s finance minister, Wolfgang Schäuble, to propose the establishment of a European Monetary ...

Newsmakers: London Legend's China Gamble Sparks Controversy

United Kingdom/Hong Kong By Jonathan Gregson Bolton: China is in an investment “sweet spot” Not so very long ago, City of London folk looked down their noses at those bankers, entrepreneurs and businessmen who sought their fortunes in the Orient. ...

Newsmakers: Russia's New Plan For The Ruble

Russia By Simon Watkins Shuvalov: Grand designs for Russia’s currency While the rest of the world focuses on the future of the dollar and the euro—and perhaps the renminbi—Russia is hatching a plan that could markedly alter the dynamics of ...

Additional Stories

How Safe Is Your Safety Net?

INSURANCE FOCUS The fallout from the financial crisis is prompting risk managers to take a cold, hard look at their insurance providers. Many do not like what they see. By Paula L. Green Don’t let that financial strength rating slip ...

The Middle East's Rapid Recovery

A Rapid Recovery By Gordon Platt Demographics and hydrocarbons make the Middle East a dynamic region that is rapidly advancing, despite the debt overhang in Dubai. A young and fast-growing population is demanding jobs, and regional governments are responding with ...