Currencies

The Financial Conduct Authority (FCA) has outlined plans to speed up approvals for wholesale debt issues listed in London, a change which it hopes will particularly benefit borrowers from outside the EU, and ABS and covered bond issuers.

Türkiye Vakiflar Bankasi, or VakifBank, this week issued the first publicly syndicated Turkish covered bond, sending a powerful message to other Turkish banks and emerging market issuers that the investor base is wide open and eager for more EM names.

Berlin Hyp has increased the volume of mortgages eligible for its Grüner Pfandbrief, or Green Pfandbrief, by more than 50%, suggesting a second deal from the lender could soon be on its way.

There’s now only five months until the renminbi enters the IMF’s special drawing rights basket in October. But while this shows the progress the RMB has made, panelists at a recent conference are not expecting full convertibility anytime soon.

The Province of Quebec has returned to the medium term note market after a long absence, printing in Hong Kong dollars.

Citi returned to the Australian dollar market on Wednesday, raising a A$750m five year dual-tranche Kangaroo that will contribute to the bank's total loss-absorbing capacity (TLAC) requirements.

Moody’s has favourably adjusted its Asia Pacific covered bond rating assumptions with respect to the likelihood of a payment interruption and the ability of banks to refinance bonds. The changes should lead to less rating volatility and more efficient funding structures.

Vakifbank’s euro Turkish covered bond is good for investors, good for emerging markets borrowers and good for the global economy. But the deal would probably never of happened without the intervention of the European Central Bank.

China's transition from an investment to a consumption economy is moving forward, but GDP growth concerns are likely to delay the country’s reform agenda.

Türkiye Vakiflar Bankasi (Vakifbank) brought a slew of new faces to its investor base when it issued Turkey’s first publicly syndicated euro benchmark covered bond — at an extremely low cost of funding.

The German lender paid no premium for its sub-benchmark sized Pfandbrief, issued on Tuesday.

Citi launched a five year Kangaroo bond on Tuesday, tapping into a recent bid from Asian investors itching for yield.