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The article focuses on the developments in the commercial paper market of Europe as of April 30, 2010. It was observed that investors have been ending their paper while others decided to cut their lines on Portuguese banks backed by the sovereign due to the downgrading of the country's local and foreign currency sovereign issuer credit rating and local and foreign currency short-term ratings. Details related to the bond issuances of the Republic of Portugal, Millennium BCP, and Allied Irish Banks are also given.

The article reports on the extension by Nederlandse Waterschapsbank (NWB) of its syndicated public bond curve in euros in September 2013. The paper was priced by DZ Bank, LBBW and Nord LB at 33 basis points over mid-swaps and the order book was closed at about 600 million euros in size. A syndicate banker says the deal is targeted at a German audience since it would have been too expensive for French buyers.

The article focuses on the five-year bonds worth Swedish krona (Skr)1.7 billion sold by Stora Enso Finnish paper company in Stockholm, Sweden. Deals for the fixed notes, it says, priced at 99.01 with 5.75% coupon attracted 79% of investors in Sweden and some in Finland, Denmark and Switzerland while 31% of bonds were allocated to banks, 17% to insurance companies and 22% to retail investors. It also notes 2011 sales of Stora Enso at 11 billion euros.

Reports on the efforts of Agricultural Bank of Greece (ABG) to join with several Greek banks in issuing lower tier capital bonds through its subsidiary ABG Finance International PLC. Comparison between the bond issued by ABG and that of Emporiki; Information on the financial strength rating established by Moody's for ABG; Impact of the downgrade review established by Moody's on the deal made by ABG.

The article discusses the $1.25 billion 30 year deal launched by Depfa ACS Bank and placing 88% of the paper with U.S. investors. It is said that the covered bond issuance shows the fast development of U.S. demand for covered bonds. Comments from Tim Skeet, head of covered bond origination at Merrill Lynch, on the covered bond are included.

The article deals with a £325 million 15 year bond sold by the Portuguese utility EDP Finance in October 2008. The deal illustrated the depth of the sterling market for corporate paper. While both the euro and sterling markets are still establishing fair value, sterling is still a more realistic option for some issuers, according to bankers.

Presents updates on medium term notes (MTN) and commercial paper issues as of March 11, 2005. Plan of Russian Standard Bank to issue a debut of 144A bond in April 2005; Addition of Banco Bilbao Vizcaya Argentaria, ING and Nomura to the dealer panel of the EuroMTN programme of Banca Agrileasing of Italy; Issuers that increased the size of their MTN programmes.

The article reports on police's suspicion that some counterfeit bonds are in circulation across the U.S. following a series of arrests for forged bonds in 1962. Bankers and stockbrokers are watching out for bogus bonds bearing the imprimatur of General Motors Acceptance Corp. According to American Bank Note Co. officials, the forgeries are indistinguishable from the genuine certificate. Experts agree that organized underworld syndicates are getting involved in the counterfeit bond business.

The weighted average call rate, which the Reserve Bank of India closely monitors, has held above the policy rate for most of the past month and even breached the emergency funding rate of 6.75% on some days. Yields on shorter commercial paper declined between five and 10 basis points while rates on treasury bills also retreated in secondary trading, traders said. (Bloomberg) -- India's shorter bonds rallied and money market rates eased on bets that a withdrawal of the nation's highest value currency note would leave banks with surplus cash to invest. [Extracted from the article]

The article reports that the volume of trades in the European commercial paper (ECP) market has far exceeded the maturing trades, and banks in particular were able to increase their issuance. Total ECP outstanding stood at $669 billion (bn), down from a peak of $871bn at the end of August, though some of this fall is likely due to the dollar's resurgence. Of the $106.42 bn traded, $72,72 bn was issued by banks. However, this figure includes guaranteed bank paper, which remains a popular sector.

The article focuses on the launch of the first covered bond issue of Washington Mutual (WaMu) in the U.S. in September 2006. The deal attracted €16 billion of demand in less than two hours. It cites the reasons for speculations that U.S. banks would use covered bonds as an alternative rather than a complement to funding from mortgage finance agencies. As of February 2007, WaMu's 2011 paper was trading at mid-swaps flat and its 2016 at 5 basis points over mid-swaps.

Presents updates on international bond issues as of August 2003. Amount of the bond offered by Boeing Capital; Comments from Deutsche Bank on the bond issued by BOS International Australia Ltd.; Rating received by National Australia Bank Ltd. for its bonds.

Provides information on several international bond issues as of May 2000. AIG SunAmerica Institutional Funding II; Council of Europe Development Bank; European Investment Bank; Federal Home Loans Bank.

Presents updates on bonds issued in the international market as of May 12, 2000. Market appraisal on the bond issuance of the Council of Europe Development Bank; Amount of global bonds issued by General Electric Capital Corp.; Rating of the bonds issued by the World Bank.

The article focuses on the agricultural credit system in the United States. Funding Corp. is the money-raising arm of the federal Farm Credit System, made up of 37 separate banks across the country--12 Federal Land Banks, 12 Federal Intermediate Credit Banks, 12 Banks for Cooperatives and the Central Bank for Cooperatives in Denver, which handles large co-operative loans. Put together they constitute the biggest thrift institution in the world, with 70 billion dollars of bonds, notes and commercial paper outstanding. The money is raised entirely in the public markets and does not pass through the U.S.

Presents information on negotiable instruments. Discussion on Republicans policy of avoiding punitive legislation against the use of financial derivatives in the U.S.; Importance on the proper use of financial derivatives; Role of derivatives in hedging risks; Reactions to some new financial instruments; Information on corporate borrowers; Discussion of Great Britain's victory over France in the 18th and 19th centuries; Observation that new forms of financial paper can increase capital efficiency; Pioneers in banking; Development of capital market that enabled Great Britain to issue bonds.

Reports on the decision of Dexia Municipal Agency to launch a two year bond transaction. Several banks awarded with the deal; Impact of the covered bond flows in the secondary market on the bond price structure; Opportunity being offered by Dexia to institutions to invest in commercial paper.

The article reports on the reactions of bankers on the proposal of the Basel Committee on Banking Supervision (BCBS) regarding the use of lower tier two (LT2) bonds as a bank's buffer when they are at a point of a government capital injection. According to bankers, the proposal will undermine the issuance of LT2 debt. They add that it will also affect the second/third tier banks credits. The proposal is said to neutralize the business between small and big banks.

The article reports on Brazilian bank Banco do Brasil's inaugural Swiss franc deal that was priced on November 26, 2013. Topics discussed include the strong demand for the emerging market paper, the lack of other Brazilian credits in the currency, and the structure of the deal. The book-runners for the 275 million Swiss franc deal includes BB Securities, Credit Suisse and Commerzbank.

The article reports on the widening of Southern European peripheral bank papers as panic took hold of the secondary senior unsecured market in the wake of weak Spanish and French government bond auctions. According to market participants, Italian paper from second tier financial institutions traded on a cash price, rather than spread basis. A survey of investors conducted by Fitch determined that banks face the greatest refinancing challenge in 2012.

The section presents information on New Zealand dollars bond issues of European Investment Bank and L-Bank as of September 23, 2005. The issue of European Investment Bank was largely driven by demand from Asian investors. There is a lot of demand for Kiwi dollar issues. Nominal interest rates are high and the paper offers attractive coupons.

Reports that the German bank HVB has established a bond Euro asset backed commercial paper program called Salome. Estimated size of the tranche; Maturity of the currencies to be issued by HVB; Expection of bankers on the demand for the program.

The section presents information on Icelandic kronur bond issues as of September 23, 2005. The European Investment Bank offers both retail and institutional accounts a great credit and a great yield compared to paper on offer in other markets. Investors are happy to accept the currency risk at the short end in order to take the coupon from Islandbanki HF with a maturity date of October 4, 2006.

The article focuses on the efforts of regional banks to improve their products and services in Japan. Bank of Yokohama has decided to extend its loans that accept intellectual property right as collateral. Long Term Credit Bank partly funded itself via the issuance of debentures to many regional banks. The non-recourse loan product of Shinsei Bank serves as its core area in its relationship with the regional bank community.

Provides information on new international bond issues, as of June 29, 2001. Rio Tinto Finance Ltd.; Council of Europe Development Bank; Walt Disney Co.

Provides information on several international bond issues with bookrunners' comments and market appraisal launched as of June 2, 2000. Launching date of the issue from the Council of Europe Development Bank; Issue from AMP Group Finance Services Ltd. and Goodyear Tire & Rubber Company.

(Bloomberg) -- Financial turmoil following the collapse of three US lenders and the emergency takeover of Credit Suisse Group AG has fueled questions over whether Japanese banks might be at risk from the fallout. Read a BI note on Japan banks' bond portfolios Smaller banks don't need to factor in valuation losses on available-for-sale securities. [Extracted from the article]

The 6.17% bond maturing in 2021 was offered at a negative yield of around 1.5%, according to traders who saw the quote on the Clearing Corporation of India's Negotiated Dealing System -- Order Matching, or NDS-OM platform. (Bloomberg) -- A negative yield was quoted for the first time ever on India's sovereign bond trading platform Friday, traders said, triggering intense speculation about the motive. [Extracted from the article]

The article reports on the decision of the U.S. Federal Reserve Board to not demand any immediate enlargement of its power to regulate bank reserves and portfolios following the drop in government bond market in 1946. At the beginning of the year, Chairman Marriner S. Eccles and the Reserve Board's experts were concerned that commercial banks might shift from short-term government paper to the long-term issues. It says that the government bond market fell due to the Reserve Board's antagonism and the Treasury's debt retirement policy.

The BOE excluded long-maturity gilts from its sales program this quarter after they were at the center of a sharp rout starting in late September. (Bloomberg) -- The Bank of England said it will sell long-maturity bonds from its main quantitative-easing portfolio next quarter after they were excluded in recent months amid fragile market conditions. [Extracted from the article]

The article reports on the 100 million Swiss francs (Sfr) bond offer of Auckland Council of Auckland, New Zealand (NZ), with a maturity date of February 7, 2024. It informs that Auckland Council is the biggest borrower in NZ outside of the central government and NZ banks. The article also mentions that the deal went to 24 investors in Switzerland and the market appraisal that it is always good to see new names in the market.

The article reports that more European banks are expected to sell tier two paper as Erste Group wraps up its roadshow in 2012. Among banks considering issuance are Alfa Bank, Citic Bank and Nordea. Also thought to be considering a tier two issue is Raiffeisen Bank International, which met accounts in Hong Kong, China and Singapore earlier in September 2012.

Instituto de Crédito Oficial this week sold its largest euro commercial paper clip since October 2011 - and it was also able to print a tap of an existing bond despite Spanish government bond yields seeing extreme volatility. [ABSTRACT FROM AUTHOR]

The article reports that the Association of British Insurers (AIB) has warned that the proposal of the European Commission that bank bail-ins include senior debt will negatively impact secondary bonds of banks and access to finance. Moody's viewed the commission's proposals as indicating lower support in future for senior bank debt. JPMorgan analysts stated that European banks could see multi-notch rating downgrades.

The article reports on the fears expressed by bond bankers over the lack of bids for their papers.

The article presents information on the bond issue of BNP Paribas. The bond has a rating of AA/AA/AA and is valued at 1 billion euros. It is due to mature on June 12, 2012 and is lead managed by BNP Paribas. Its bookrunners priced the deal at the tight end of the guidance set at between 28 basis points over three month Euribor and 30 basis points over. Sixty percent of the deal went to institutional investors while the remaining 40% was acquired by paper and bank investors.

The article examines adjustments made by investors in response to banks' opt for longer terms. Following the European Central Bank's decision to lend 442 billion euros for one year to 1,121 banks at 1%, banks became reluctant to issue short term paper with attractive yields. This resulted in longer tenors and diversification in the issuers.

The article presents updates on the Eurobond market. Cédulas Grupo Banco Popular has decided to award the mandate for a 10 year issue to Banco Popular Español, Morgan Stanley, Natixis and UniCredit. The first tap of an AyT Cédulas Cajas flexible issuance program (FIP) was executed by Merrill Lynch.

The article reports on Bank Negara Malaysia's launch of its first M$400 million Sukuk Ijarah (lease-backed notes) deal which uses a securitization-type structure. The deal is the first transaction from an ongoing program that the bank expects will serve as a benchmark for short-tem Islamic bonds. The bank's notes are likely to offer a slight pickup on government-issued one-year Islamic paper, which was trading around 3.4 percent.

The article reports on the condition of the Swiss franc bonds as of January 20, 2006. Duration bids for increased yield were made by investors. A 150 million Swiss franc deal for Compagnie de Financement Foncier was led by Credit Suisse. Lead orders from asset managers resulted from a 150 million Swiss franc trade of Landsbanski Island. The presence of buyers in the four-to seven-year section of the bond market was confirmed by Dennis Vucina, head of Switzerland syndicate at BNP Paribas in Zurich.

Reports on the bond sold by Landesbank Rheinland-Pfalz (LRP) in the global public sector. Banks which led the deal of Landesbank; Price of the commercial paper of LRP; Remarks from Frank Parensen, head of issues and syndicate at LRP, on the reliance of LRP on money accounts.

The article presents information on several international bond issues in euros launched by various financial institutions in Europe in March 2006. The bond issue of Banca Popolare dell'Emilia Romagna Scarl was launched on March 8 and participated by Citigroup and SG CIB. Banco Commercial served as the guarantor of the bond issue of BCP Finance Bank Ltd. 50% and 11.6% of a bond transaction launched by Hypo Alpe-Adria-Bank International was bought by Germany and Austria.

The article offers updates on bonds issued in sterling as December 9, 2005. Strategic plan contributed to choice of maturity of the deal of Clydesdale Bank. Central banks have purchased a percentage of the bonds issued by Eurohypo Luxembourg. The bond issued by GE Capital UK Funding was marketed to British accounts. Clients of ING Verzekeringen NV appreciated the coupons it issued. Royal London Finance Bonds PLC was satisfied to the results of its transaction.

Presents an update on deals in the global banking industry as of August 2005. Upgrade of an investment-grade rating of Rio de Janeiro, Brazil-based Companhia Vale do Rio Doce by Moody's; Decision of U.S. retailer JC Penney to sell its stake in Lojas Renner in an offering on the São Paulo Stock Exchange led by CSFB; Amount of the bond issued by Chilean pulp and paper manufacturer CMPC.

The article explains how to make personal business forecasting. The absence of trend in interest rate and its association to the trend in bond yields is explored. Other topics discussed are the principle behind the changes of trade barometer or general business index, the influence of demand in trade activity and interest rates, the seasonal variations in money rates, and the usefulness of U.S. Federal Reserve Bank statements and statements showing the condition of leading member banks.

The article reports on a 500 million euros bond issue launched by the Bank of Ireland on July 21, 2009. Bookrunners commented that the deal was market driven and there is good demand for short dated paper. The issue was quoted at about 140 basis points (bp), but they were not really trading. Information on the deal's rating, maturity and spread at re-offer is provided.

The article presents a commentary on the bond launched by Caisse d'Amortissement de la Dette Sociale on January 21, 2009. According to the bookrunners, the market was complicated when the issue was launched with KfW. Distribution is well balanced with France taking one-third of the paper. About 25% of the issue was bought by central banks, 46% by banks, 27% by fund managers and about 2% by retail. Because of the weak environment with regard to the banking system, bookrunners were aware that bank treasuries would play a role in this kind of transaction.

The article presents bookrunners' comment and market appraisal for the bond offering of Allied Irish Bank. For the bookrunners, this was a cracking trade, demonstrating the confidence and appetite for paper and risk in the sterling markets. This deal had a short execution time. Knowing that the issuer was looking for some lower tier two credit, they carried out a small soft sounding exercise. From these five or six accounts, they gauged a strong interest level and decided to go ahead with the issue.

The article provides information on international bonds that were issued in euros by several public sector borrowers. According to the bookrunner of the bond issue of Freistaat Thüringen, Asian central banks and French pension funds were interested in the issue. The issue and re-offer price of the deal of Landwirtschaftliche Rentenbank is 99.448.