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The eurozone sovereign debt crisis has tested the covered bond product like never before. Katie Llanos-Small examines how covered bonds from the periphery have performed during the crisis, and asks what might happen if a eurozone sovereign were to default.

On the back of conducive bank finance regulation, covered bond issuance is soaring, writes Bill Thornhill. Meanwhile several countries, most notably the US, are moving towards establishing fresh covered bond markets.

New regulation is coming thick and fast, with Basel III set to re-order the fabric of the capital markets. Right now, covered bonds are the darlings of the rule-makers, and in the brave new Basel-ed world, could be the bank funding instrument of choice — unless asset encumbrance worries get the better of the authorities. Owen Sanderson looks at the regulatory threats and opportunities.

Upheaval in the Middle East is sparking Saudi Arabia’s leaders into action over its housing market. In Brazil demand for property is skyrocketing. But it is Mexico that is leading the way in developing new covered bond markets, as Phil Moore reports.

Senior unsecured debt has long been the workhorse of bank funding programmes. But who wants a workhorse when you can have a thoroughbred? Nick Jacob reports on the changing balance in wholesale bank borrowing.

US covered bond legislation is creeping ever closer, despite not having universal support. Its backers hope President Obama will sign the act into law before the end of the year. Bill Thornhill reports.

South-east Asia has a major opportunity to create an integrated economic community but the Association of South-East Asian Nations will never achieve such an objective if it doesn�t offer concrete goals.

Bankers are worried about the potential impact of a spate of new global banking regulation. The cost of making OTC trades will soar, which could affect the shape of debt financing in Asia.

After the trading lows of the global financial crisis, volumes are soaring and require increasingly sophisticated financing to support them. While the banks are generally happy about this, the world of trade finance has become a lot more complex. Chris Wright reports.

With traditional banks in the country having their risk-taking activities increasingly curtailed by an anxious regulator, non-banking financial corporations are flourishing. They look set to keep growing, reports Elliot Wilson.

Resources and mining companies are rushing to take advantage of surging commodity valuations to launch equity issues in Hong Kong. Global trader Glencore has proven to be the most ambitious to date, but does its desire to sell shares point to a poor outlook for commodity valuations?

Political sensitivity killed the Singapore Exchange’s attempts to merge with the Australian Securities Exchange. But the ASX still needs a partner to secure its future, and its Singapore peer remains the best option. Ben Power reports.