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DNB entered 2020 better capitalised than ever, and having taken the opportunity to get ahead with its regulatory funding at the end of last year, it was also better financed than ever. Even so, following the regulator's decision to delay implementation of MREL target by one year, DNB could return to the covered bond market in the latter half of 2020.

MEPs proposed a series of amendments to the Capital Requirements Regulation (CRR) this week, including a couple that could compel banks to stop paying additional tier one (AT1) coupons during the coronavirus pandemic.

The structured products market may have suffered dramatic blow-ups in the equity market, but investors have supported the less well publicised fixed income corner of the market.

The European Commission has delivered its proposal for an EU recovery fund. It may not be full debt mutualisation nor a solution to low European growth, but it is a huge step forward.

Private sector involvement in suspending debt servicing for the world's poorest countries to alleviate the impact of the coronavirus pandemic progressed this week, with the Institute of International Finance (IIF) publishing guidelines for such an initiative. But countries face a long and tortuous path to reach tangible relief, write Ross Lancaster and Oliver West.

The European Commission delivered its proposal for Next Generation EU on Wednesday, marking a sea change in the bloc’s relationship with the capital markets as it proposes truly shared borrowing to finance expenditure for the first time. The move could make the Commission the biggest supranational and agency borrower by some distance, Lewis McLellan reports.

The UK’s Financial Conduct Authority has reminded issuers and bankers of rules related to inside information and wall-crossings, as it seeks to make sure standards are upheld in busy markets when participants are working from home.

Marshall Bailey will be the next chair of the board of MUFG’s securities arm for Europe, the Middle East and Africa.

Payments start-up RTGS.global has hired Jim Cowles, former chief executive of Europe, the Middle East and Africa at Citi, to be an executive director of the board.

Hong Kong’s capital markets were left roiling this week as investors tried to grasp the significance of a new national security law. Some fund managers are jumping on opportunities amid the ensuing confusion, but other market watchers see the city losing its financial edge. Jonathan Breen reports.

Nomura is eyeing acquisitions and a change in chief executive promises a reboot of its investment banking ambitions, writes David Rothnie.

Citigroup’s new architecture to make its banking, capital markets and advisory (BCMA) group a fitter competitor in sustainability and ESG issues emphasises two channels of communication, according to Manuel Falcó, co-head of BCMA, through the most senior rainmakers and a cadre of younger enthusiasts.