Americas

In an exclusive interview with Emerging Markets, Bank of Japan governor Haruhiko Kuroda insisted the policies of Abenomics were working, not hurting, and defended the ways the world’s big four central banks were operating monetary policy

The principle is clear: shareholders and creditors should bear risk of bank failures. Working out how to achieve that is the difficult part.

Women's participation in the labour force still lags men's by 12% even in developed economies. In the MENA region it can be up to 50%. That is a wasted resource - and best practice examples show countries and companies that tackle the problem outperform

Although fast-growing economies such as China secured a deal four years ago to earn greater voting rights on the IMF, they are still waiting for approval by US Congress. They could finally be about to get their way

As the global financial community is braced to withstand the impact of the looming US interest rates, Indian central bank chief Raghuram Rajan tells Emerging Markets that the federal Reserve must pay attention to emerging market concerns

Yet critics say the forecast is overly optimistic, given the eurozone’s precarious recovery and slowing growth in many of the country’s key regional export markets

Canadian Imperial Bank of Commerce has priced the tightest ever Canadian covered bond issued in euros. The price discovery process was also notable for skipping out guidance and going straight from initial price thoughts (IPT) to final spread.

Canadian Imperial Bank of Commerce has mandated leads for its first euro benchmark covered bond of the year. With comparable deals trading through mid-swaps, the transaction has potential to price inside Euribor, even though its bonds are not eligible for the European central bank’s purchase programme.

The lack of a securities lending market for green bonds could be stifling the ability of banks to make markets in the product, leaving the buyside struggling to pick up paper in secondaries, a leading investor told GlobalCapital this week. But on the primary side, green demand grows ever healthier, with another set of firsts from public sector borrowers on the way.

General Motors is planning to introduce its captive auto finance arm into the Chinese market later this year, paving the way for more issuance of auto loan securitizations in the world’s largest auto market. But concerns still remain around the asset class, in a country where securitization laws are relatively new.

TD priced a $1.75bn 144A private placement covered bond on Thursday at the same spread as Bank of Nova Scotia, which issued a $1.5bn SEC-registered deal two weeks ago. The deal should have priced wider but thanks to demand from Europe, it got great price tension.

Toronto-Dominion has mandated leads and announced initial price thoughts for its first benchmark US dollar covered bond under Canadian legislation.