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◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
Swiss investors retain appetite for credit as yields become more attractive
As war drags on, banks are boosting hoards of cash after deposit outflows
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Banks with major exposures to Turkey were getting hammered after a loss of financial market confidence pushed the country towards a crisis at the beginning of the week. But analysts suggest that any fears of contagion into the European banking sector are overdone. -
Within a fortnight, the Republic of Turkey is planning to announce “additional sources of financing” to fill a $2.5bn gap in its 2018 external bond funding plans, Berat Albayrak, the country's finance minister, said on an investor conference call on Thursday afternoon. Albayrak also said Turkey is not in talks with the International Monetary Fund (IMF) and ruled out capital controls.
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The cost of buying credit default swaps on Turkish five year government debt has stopped its upward trajectory and eased lower, even as the country’s standoff with the US continues.
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The collapse in the Turkish lira has stoked fears as to how the nation’s borrowers will repay their foreign currency debt just as the country's foreign exchange reserves are shrinking.
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Turkey’s finance minister, Berat Albayrak, is holding an investor call at 2pm London time today. Over 5,000 participants are registered for the call and will be looking to see if the politician can bring calm to the crisis engulfing Turkish and wider emerging markets.
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The US Office of Foreign Asset Control (OFAC) has an unprecedented decision to make on whether to accept a reported offer from EN+ owner Oleg Deripaska to sell shares in the company to VTB Bank. The aim of the deal is to reduce the oligarch’s majority stake in the aluminium conglomerate, which, it is hoped, will result in sanctions against it being removed.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
