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The European Central Bank is now expected to find a means of meeting the request from Germany's Federal Constitutional Court (BVG) for proportionality assessments without curtailing its ability to expand its quantitative easing programmes.

The UK may be loosening social restrictions as the rate of coronavirus infections abates, but the Bank of England and the government cannot let up the fight against the economic and market impact of the virus.

Healthy financial systems should not rely on short sellers and journalists to expose accounting scandals at large, publicly listed companies. Regulators and auditors should have been the heroes of the Wirecard story but their inability to see what others saw plainly paints them as the villains in this edition of German corporate noir.

Alexander Karolev, head of CEEMEA bond syndicate at BNP Paribas, has left to take up the recently vacated head of CEEMEA debt capital markets syndicate position at JP Morgan.

Andrew Bailey, the governor of the Bank of England, has hinted at a dramatic reversal of the central bank’s long-standing monetary policy strategy, with the idea that it would be better to reduce the stock of its asset purchases before raising interest rates.

Nikhil Rathi will be the new chief executive of the Financial Conduct Authority. He is currently CEO of the London Stock Exchange.

The European Commission proposal for a debt-financed coronavirus recovery fund goes before the European Council on Friday. The Council is unlikely to reach a decision on the fund this week, but analysts hope a verdict will emerge before July.

European Central Bank funding proved irresistible for lenders across the eurozone this week, with participation in the latest round of Targeted Longer-Term Refinancing Operations (TLTRO III) reaching a record €1.31tr. The astonishing take-up will cement expectations for fewer deals and more buy-backs in the FIG market, as well as the return of the government bond carry trade, write Tyler Davies and Bill Thornhill.

Financial markets are at risk of a renewed dollar funding squeeze, the Bank for International Settlements (BIS) warned on Thursday. This would mirror the stresses that hit when the impact of the coronavirus pandemic triggered a rush for cash.

Deutsche Bank has appointed Diarmuid Toomey head of its newly created strategic capital markets group, which will combine leveraged finance, structured equity and equity-linked products, according to a memo seen by GlobalCapital.

‘Angrynomics’, a well-timed book on anger and how it relates to politics, economics and finance by Eric Lonergan and Mark Blyth, is published this week. GlobalCapital spoke to Lonergan to discuss its meaning.

The success of Rich Ricci’s banking comeback depends on getting a revered old broking brand back on its feet.