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The Republic of Indonesia re-opened G3 sovereign bonds for emerging market issuers last week with a $3bn triple-trancher — the second December in a row that it has made an early start on its funding plans. While its timing has come under criticism from some market watchers, the country made a savvy move given the circumstances.

All central counterparties, by their nature, are systemically important. But some are more systemic than others. Regulators should adopt a more tiered, and more technological approach to CCP recovery and resolution.

The market was already expecting that the European Central Bank would announce an extension to quantitative easing — and be tight-lipped on tapering — at its next governing council meeting on Thursday. The resignation of Italy's prime minister Matteo Renzi following defeat in a constitutional referendum on Sunday now means the central bank has little choice but to offer some more easing.

The first ever sovereign green bond looks set to be issued by Poland — a coal-reliant nation that was once one of the most outspoken opponents of the UN’s Paris Agreement. Despite incredulity from green finance experts, the deal is an important step for green financing. It raises the environmental agenda within Poland, and offers a firmer commitment to green financing than displayed by any other sovereign so far.

Offshore renminbi debt has struggled to gain traction this year, while the Panda bond market has shown encouraging development despite the absence of clear-cut rules. But if the Chinese regulators want to keep the RMB’s appeal as a long-term funding currency, they need to urgently make Panda issuance more user friendly.

In the fourth and final part of our annual awards we reveal our choice for Best Asian Investment Bank and Best Investment Bank.

For the third part of our annual awards, we cover Best Local Currency Bond, Best Structured Finance, Best High Yield Bond, Best Investment Grade Corporate Bond, Best Financial Bond, Best Sovereign Bond, Best Local Currency Bond House and Best G3 Bond House.

In light of the LMA’s 20th anniversary, the Ranger would like to say that no matter how times change and irrespective of any fancy products challenging the norm, the loan will always be dear to us.

It’s outlook season for hardworking market hacks and the word of the moment is “windows”, a phenomenon demonstrated all too well by the weekend’s political action.

The week begins with the long-awaited launch of the Shenzhen-Hong Kong Stock Connect, while in the foreign exchange (FX) markets the RMB volatility led to a new record in RMB futures traded on the Singapore Exchange in November.

In the first instalment of our 2016 awards, we present the winners for Best Leveraged/Acquisition Finance, Best Investment Grade Syndicated Loan, Best High Yield Syndicated Loan and Best Loans House.

In the second part of our 2016 awards, we present the winners for Best Equity-Linked Deal, Best IPO, Best Follow-on/ABB and Best Equity House.