Pre-migration untagged articles

The ECP market today faces the implementation of the Bank of England’s plan to purchase corporate commercial paper, announced last Friday.

UBS confirmed its position as Europe’s worst casualty of the credit crisis this week when it reported dismal fourth quarter and full 2008 results.

Barclays this week attempted to put to rest concerns over its remaining credit market exposures as it unveiled a strong set of 2008 results. Two weeks after its sharpest-ever share price fall and an extraordinary open letter to shareholders from chairman Marcus Agius and chief executive John Varley, it provided an unprecedented level of clarity on remaining credit market exposures for a firm that has in the past been accused of a lack of openness.

Compagnie de Financement Foncier printed a Sfr350m (Eu232m) four year obligations foncières issue on Tuesday, its first public deal of the year, excluding two taps, and its largest public deal since June 2008, according to data from Dealogic.

Credit Suisse reported a full year pre-tax loss of Sfr12.2bn ($10.4bn) with a net loss of Sfr8.2bn on Wednesday. The loss for the quarter was Sfr8.66bn of which investment banking was responsible for Sfr7.78bn. Wealth management made Sfr363m, corporate and retail made Sfr513m and asset management lost Sfr670m over the quarter.

The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week. Data provided by Markit Group.

A $250 million bids wanted in competition closed at noon last Thursday; market players said 70-75% of the portfolio traded.

--Martin Franklin, ceo of Jarden Corp., on replacing Lehman Brothers with Deutsche Bank as the administrative agent on its loans after Lehman filed for Chapter 11.

JPMorgan and invitees were in South Beach last week for the 2009 Global High-Yield and Leveraged Finance Conference.

Bank of Scotland has launched the first issue off a new £15bn mortgage covered bond programme for its Intelligent Finance (IF) division, which uses a full pass-through structure.

Wide 30 year euro-dollar basis swaps helped boost the yield of callable zero bonds this week enough to push Asian investors into pulling the trigger on a series of trades.