Pre-migration untagged articles

The precipitous decline in Citi’s share price last week was brought to a halt by the dramatic intervention of the US government over the weekend.

Mass job cuts in Royal Bank of Scotland’s global markets business are set to start next week. This is the first big phase of redundancies as part of the planned loss of 2,700 staff across the division. The global markets section employees about 20,000 people.

Fitch Solutions has introduced a new system whereby scores for liquidity are given to the most widely traded credit derivative assets.

Moody’s has stripped the last top rated legacy monoline bond insurers of their triple-As. It downgraded Assured Guaranty to Aa2 and Financial Security Assurance to Aa3.

Irish government guaranteed commercial paper is trading almost no tighter than it was before the introduction of the support package. Investors and issuers seem unconvinced by the guarantee, which covers all issued and outstanding debt until 2010 of the six banks — Allied Irish Banks, Anglo Irish Bank, Bank of Ireland, Educational Building Society, Irish Life and Permanent and Irish Nationwide Building Society.

UBS gets back Sfr33m from chiefs

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, self-led deals and issues with a term of less than 365 days.

Pandit opens up

Two trades for the Province of Ontario this week highlighted the step-up in issuance of the Canadian sub-sovereign off its MTN programme this year.

The shock decision by the US Federal Reserve to lavish another $800bn on the country’s banking system helped spark big rallies in a variety of asset classes this week.

Electricité de France priced the largest deal in Swiss francs since 2001 this week, with a combination of collapsing yields and the fast-approaching year-end combining to produce issuance totalling some Sfr2.05bn ($1.72bn).

Finland will include covered bonds within its planned guarantee scheme, according to the ministry of finance. However, the impact of the guarantees for covered bonds is likely to be limited.