Comment EM and The Cover

The charging of four Barclays executives and the group itself on Tuesday after a UK Serious Fraud Office (SFO) investigation might, at last, satisfy the public desire to see bankers banged up. But it’s hard to see what else it will achieve.

The European Union is set to reveal its policy on the clearing of euro denominated products in 'third countries' on Tuesday. Implementing a location policy that would deny liquidity to foreign clearing houses would stifle cross-border competition, and ramp up costs. It must not happen.

The contingent convertible (CoCo) bank capital market received all the plaudits on Wednesday, when Banco Popular Español was forced into a “rescue” by Santander.

GCC debt markets are experiencing their first big wobble since gaining prominence as the most prolific issuers in CEEMEA, and no one saw it coming. The recent Qatar-related sell-off is both a stark reminder that EM assets are not a one-way bet, and highlights the vulnerabilities of a debt market fuelled largely by local bank demand.

A German company, of implied investment grade, can waltz into the Schuldschein market, expecting shrinking margins, and a bulging order book. A foreign issuer’s journey is more complicated, and much more costly. For the Schuldschein to be the cosmopolitan darling of international private placement markets — German issuers must lose their home advantage.

The launch of the Allied Irish Bank’s (AIB) IPO by the Irish government should be welcomed as an important landmark in the republic’s astonishing recovery since it emerged from its bailout in 2013.

Italian credit default swap levels have not reacted dramatically to the prospect of sooner than expected elections, but politics and the country’s banking sector are still capable of triggering big slides, writes Gavan Nolan.

Chinese loan banks are appearing in more and more emerging market loan deals this year, as they race towards the loan market big league, but while their hunger for market share is evident, they're still taking a conservative approach.

Central banks should focus on the risk of cyber attacks when developing new stress testing scenarios for financial institutions.

Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

The Swiss bank has proved to be world class in generating returns and cutting costs. Now it faces a direct assault from rivals on its core business, writes David Rothnie.

This was widely touted to be the year of volatility. The UK government began the fraught process of leaving the European Union while the Dutch and French elections were scheduled with populist far-right parties riding high in the polls, writes Gavan Nolan.