LatAm Loans

The International Accounting Standards Board this week unveiled a string of amendments to International Financial Reporting Standards designed to bring its principles in line with US Generally Accepted Accounting Principles.

Nomura this week hired more than 150 former Lehman Brothers staff from the US bank’s fixed income division. The hires are within the flow and solutions businesses, strengthening Nomura’s credit, interest rates and foreign exchange teams.

The syndicated loan market is crucial for European corporate activity, supporting both short term and long term funding, as well as facilitating mergers and acquisitions. If it ceases to function, corporates will be in even more trouble than they are now.

The lack of dollar liquidity that is squeezing Asian banks will have a big impact on the syndicated loan market. A seismic shift away from US dollar lending is on the cards.

While deals launches this week are scarce, facilities in the emerging markets that were syndicated before Lehman Brothers’ bankruptcy and the ensuing turmoil in the markets are being wrapped up and signed.

Lehman Brothers’ bankruptcy has robbed the Asian markets of a rising star.