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incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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April 2002

Main

Cover story

Credit research poll 2002: Credit analysts get back to fundamentals

Declarations of independence

How many analysts do you need?

Credit research poll 2002 - HIGH GRADE

Credit research poll 2002 - HIGH YIELD

BNP Paribas

It's time to throw caution to the wind

Turkey

A Japanese-style recession but without the wealth

Central & Eastern Europe

Rate cuts prompt a public falling-out

Building Ferraris in Lada land

Privatization takes a slower route

Mol looks towards a regional role

Russia

Capital crunch sets in as the business cycle takes its toll

Asian Development Bank

Banker to half the world’s people

China

Brokerage joint venture partners take to the floor

Taiwan

Banks fail to face up to NPL crisis

Fund management

Outsourcing gains followers but still demands leap of faith

Pfandbriefe

Uneasy times for a market that was built on certainty

Equity markets

Beware of biotech

Editorial

Fall of the Washington Consensus

Front End

Fresh merger frenzy

End of the name game

US tells EU what to do

So how much is a baker’s dozen?

Custody fails to deter banker

Market Monitor

Merger prospects fuel rumour mill

Ebner goes into battle on ABB pensions

Goldman’s equity earnings suffer a big hit

Looser currency curbs get mixed reactions

Banks battle for index-linked trade

CreditSights draws a bead on complexity

Emerging markets

Farallon nips deal from Standard Chartered

Browder sees upside in RTS

An invitation but not to a party

Damned if it is an event and damned if it isn’t

Corporate bonds pick up on recovery prospects

Against the tide

Korea’s new boom shouldn’t go bust

Financial Lawyer

US corporates face stiffer disclosure rules

People

Lucas Papademos

Deal Insider

Demand for GECC’s jumbo overwhelms doubts

Flipside

Bankers stifle, Latin America takes a breather