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The article reports on the growing interest of investors in unguaranteed bank commercial paper in Europe. It is noted that banks found that there is an increasing demand for commercial papers in the European market. Some of the banks that have issued unguaranteed commercial paper were Bank of Scotland, the Commonwealth Bank of Australia and Westpac.

The article reports on an increase in interest rates at the European Central Bank (ECB) and the Bank of England in Europe. This interest rate decision caused many market participants to expect increased Euro commercial paper issuance. ECB president Jean-Claude Trichet commented on the reason for the increase. Though many market participants expected the move, the sterling curve tightened, suggesting some investors had expected a surprise move.

Provides information on medium term notes (MTN) and commercial paper issues in Europe as of March 11, 2004. Role of car companies in the issuance of MTN in the EuroMTN market; Effect of interest rates on the EuroCP market; Banks that issued MTN.

The article presents updates on syndicated loans in the financial services industry in Europe as of December 9, 2005. Tranches of Debenhams paper traded at around 97.25. Several banks are trying to support the paper of British casino operator Coral Eurobet. B and C tranches of Dutch plastics manufacturer Basell improved from 101.25 to 101.75. Paper of German chemical firm SigmaKalon has stabilized. Spanish retailer Cortefiel is expected to trade in the market.

The article deals with the European Central Bank's (ECB) decision to reduce its deposit rate by 25 basis points to zero and its implication for the euro commercial paper market. It notes that the decision can lead to a dearth of demand for banks' short term debt when the longer term refinancing operations of the ECB end. It adds that the ECB decision creates more funding uncertainty for financial institutions.

The article reports on the drop in the volume of sovereign and supranational trades issued in the European commercial paper (CP) market as investors rejected the very tight levels on this type of paper. One CP dealer says there has been much more focus on bank names but there have not been so many sovereign and supranational trades getting done.

This article reports on improved confidence towards banks during the week of May 8, 2009 as some dealers observed lengthening maturities and more diverse names. A London, England based commercial paper (CP) dealer claims investors are looking at maturities from six to 12 months. There is growing demand for banks' unguaranteed paper. As of April 2009, the total European CP outstanding was $62.5 billion (bn), while bank paper rose to $338bn. Some of the usual corporate names in the market are Vodafone, BMW and E.On.

Presents several graphical and tabular representations of various information related to medium-term notes and commercial paper (CP) issuance in Europe for week ended June 2, 2005. Status of HSH Nordbank in the Euro MTN issuance; Top Euro CP issuers for the period, including Mont Blanc Capital; Rank of bookrunner Citigroup in the MTN issuance market.

The article reports that bank issuers of commercial paper (CP) have lengthened their maturity profiles after money market funds ignored the sovereign downgrades of Standard & Poor's (S&P). About 19 percent of CP issued by European banks had a tenor of less than 30 days in January 2012, the lowest proportion since August 2011. An overview of banks based in countries that suffered a downgrade to their sovereign ratings is provided.

The article reports on the decision of U.S. investors European banks' commercial paper (CP) to limit their exposures by rolling into shorter dated paper or reducing the amounts they hold. It is said that the U.S. money market funds believe that a Greek default is imminent. Chris Conetta of Barclays Capital stresses that fund managers give more importance to their shareholders' perception of their investments than the actual credit-worthiness of those investments.

The article elaborates on the efforts of sovereign, supranational and agency (SSA) borrowers to increase funding in the European commercial paper market during the week ending May 7, 2010, by taking advantage of the flight to quality and volatility euro/U.S. dollar swaps. Among the largest dollar trades from SSA borrowers were Bank Nederlandse Gemeenten's 300-million dollars three month ticket and KfW banking group's 400-million dollars issuance.

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 an increase in the number of outstanding European commercial paper (ECP) issued by banks at the end of May 2009. According to Dealogic, banks have issued 56.16 percent of outstanding ECP compared with 54.59 percent at the end of April 2009. The total outstanding issuance for the ECP sector was $352.88 billion equivalent in the same period compared with $341.51 billion at the end of April 2009.

This article discusses the concern of commercial paper dealers over benchmark rates in Europe. According to the article, participants in the market believe that authorities are pressuring banks involved in the fixing of benchmark rates to set those rates at artificially low levels. It notes that though the various Euribors have been consistently decreasing, spreads on commercial paper have not reflected the change.

The article offers update on the sovereigns that made up the bulk of trades in the European commercial paper market. Though flows have declined, the overall drop has not been comparable to the plummet in banks' share of paper. The fall has also not been nearly as precipitous as that of the U.S. commercial paper (CP) market, which fell $52.1 billion or 2.9 percent, to a seasonally adjusted $1.76 trillion for the week that ended September 17, 2008, according to the U.S. Federal Reserve.

Discusses the trends in the European commercial paper market in 2005. Status of the spread market in the banking sector; Reduction in the senior unsecured debt rating of Ford by Fitch; Information on the rating given to an asset-backed commercial paper programme of Bayern LB by Fitch.

The article reports that investors in Europe are expecting a wide scale adoption of callable commercial paper (CP) in the region. According to Craig McGlashan of "EuroWeek," European banks have already begun printing callable CP in the US to help with their dollar funding. However, Federated Investments Chief Investment Officer Deborah Cunningham still expect change while flows are still small.

This article reports on the decline in European commercial paper (CP) issuance during the week of January 23, 2009. Spreads are tighter on top-rated names in the corporate sector as a result of a lack of supply. $82.7 billion (bn) is the total issuance for the week, according to Dealogic. By the end of January 22, total bank issuance dropped from $54.7bn to $42.5bn this week. Greater declines were posted by British and Irish banks. For instance, Barclays only issued $296 million (m) this week.

The article reports on the commercial paper (CP) market in Europe. Issuers pushed for funding and investors began looking at longer maturities in the said market. According to Dealogic data, many guaranteed bank paper were issued including those from Anglo Irish Bank, Bank of Scotland and Danske Bank. It is noted that spreads have been widening as triple-A issuers have to compete with guaranteed financial paper while lower-rated corporates have to lure risk averse investors.

Reports on the condition of the euro commercial paper market in Europe as of August 5, 2005. Worth of commercial paper brought by Banque Fédérative du Crédit Mutuel to the market; Possible entry of several U.S. corporate borrowers in the euro market, including engineering firm Honeywell; Percentage of asset backed commercial paper being accounted for by banks.

The article reports on the European commercial paper (CP) market. The author says that the current conditions in the market remained difficult for lower-rated borrowers, with further move toward triple-A and double-A names while bank names not being placed. According to the article, one month paper was the most popular tenor throughout the market, with most dealers placing the average at between one and three months.

Reports on the status of the commercial paper (CP) issuance market in Europe in July 2005. Success of the Rhein-Main Securitization asset backed CP program of Deutsche Bank; Possible reduction of interest rates in August; Percentage of CP deals in the market taken by banks.

Presents commentary on issues concerning the European commercial paper (CP) market as of January 21, 2005. Performance of the CP for the week; Increase in the demand of sterling papers according to bankers in London, England; Percentage of new trades issued by banks and financial institutions.

The article reports on the growth of the European commercial paper (ECP) market. According to Dealogic, ECP outstanding at the end of June 2008 was $813 billion, up from $805.6 billion at the same time in 2007. Corporate issuance, however, continues to wane. Banks continue to dominate, making up $73.6 billion of the $128.6 billion for the week to Thursday, according to Dealogic.

The article reports on the limited trading of commercial paper by banks in Europe. One dealer noted that it is still hard for financials and corporates and others agree that while sovereign names are able to place longer-dated paper, even those banks perceived as safest do not have that luxury. There have also apparently been some asset-backed flows. All dealers agreed that the Irish bank guarantee seemed to be a positive move, though its full effects have yet to be felt. So far, among those that traded include Allied Irish Bank and Dealogic.

The article reports on the activity in the European commercial paper (CP) market on July 31, 2008. According to Dealogic, the day's issuance totalled $40.1 billion, only slightly higher than the $39.8 billion of July 30, 2008. Most of this is due to an apparent surge in bank sales, which by Thursday's close had already exceeded, at $65.4 billion. EuroCP outstanding at the end of July 2008 was $863.7 billion, up from $813.8 billion the previous month.

The article offers news briefs on the European commercial paper (ECP) market. Nat Bank of Dubai has become the second in Middle East to sign ECP following the launch of its $1 billion EuroCP programme. The credit ratings of Sequana Capital was put into CreditWatch with negative implications after its decision to disinvest itself of its 23.8% stake in Société Générale de Surveillance.

The article reports on Santander's decision to increase the size of its domestic commercial paper (CP) programme which was launched in September 2011. The programme's limit has been increased from 5 billion euros to 15 billion euros in May 2012. Santander declined to comment on how much is outstanding under the programme. The bank's decision to increase the size of its domestic CP programme rather than European commercial papers (ECP) had the dealers confused.

The article reports on the dominance of financial institution deals in the commercial paper (CP) market in October 2011 and the negative effect of a widening of the euro/dollar swap on sovereigns, supranationals and agencies (SSA), according to dealers. Dealogic noted that SSA contributed 25% to the total monthly issuance. The role of policymakers in financial institutions group (FIG) performance is cited. There was a 14% reduction in the exposure of U.S. money market funds to European banks.

The article reports that banks have doubly increased the amount of European commercial paper (ECP) they sold that are due to mature. According to the article, dealers are hoping that the interest rate hike made by the European Central Bank (ECB) in 2011 will encourage investors to push out their maturities. Data from Dealogic showed that financial institutions issued ECP worth 29.4 billion U.S. dollars, against the 16 billion U.S. dollars total value of paper maturing in the same period.

The article reports that banks issued long-dated commercial paper (CP) in the European market in the end of October 2009. Some of the banks with the biggest issues were Pohjola Bank which issued a 565 million euro CP, Erste Bank with its 300 million euro CP and Svenska Handelsbanken with its 300 million euro six-month ticket. One dealer stated that majority of investors were prepared for month end issues.

The article reports that Banco Bilbao Vizcaya Argentaria (BBVA) has raised €540 million in commercial papers (CP). The deal ranked higher than the preceding transactions closed by the bank, though it had a United States Commercial Paper (USCP) programme. Industrial statistics pertaining to European commercial trading as a whole are cited, including the transaction volume of asset-backed CP and the total value of maturing CP as of May 2009.

The article highlights the activity in the European commercial paper (CP) market as of October 2008. It states that British and Irish banks found an investor base in the European CP market, while Nykredit Bank has launched a CP program supported by the Danish government. The CP notes issued by Irish & Permanent and Bank of Ireland are given. Also noted is the easing off of CP activity by the Bank of Scotland and the Royal Bank of Scotland.

The article reports on the failure of banks to issue commercial paper (CP) in their desired terms as one to three month maturities dominate the European CP market. According to one dealer, some A1/P1 banks are very well funded in the short term with most of them are looking for cash over six months. There remains considerable name differentiation in spreads among bank borrowers. For example, Irish banks are trading at around flat in the three month area, while big British banks range from around minus 10 base points to around minus 19 base points.

The article reports on the condition of the European commercial paper (EuroCP) market. Most bankers said the EuroCP market was getting tough as the quarter end approached. Spreads had widened considerably and issuance was shrinking. A dealer said it had become difficult for asset backed commercial paper issuers to fund at their required pricing levels.

Presents updates on the European commercial paper (ECP) market as of September 24, 2004. Total new issuance in the market by bankers in London, England; Percentage of new deals issued by banks and financial institutions; Factors that led to the strong issuance in the market.

The article reports that sovereign, supranational and agency (SSA) issuers took a back seat in the commercial paper (CP) market due to the tightening of the basis swap between U.S. dollars and euros. The situation gave bankers an opportunity to provide liquidity, especially in shorter maturities. According to data from Dealogic, SSA issuers sold 5.568 billion U.S. dollars equivalent of paper in the euro commercial paper (ECP) market.

The article reports that Spanish and Portuguese banks and the Republic of Portugal have increased their spreads in the commercial paper market in Europe which allowed them to issue large volumes with long maturities. The biggest issue was that of Santander, which includes 550 million euros at 3 months and 200 million euros at 200 days. Banesto and Banco Comercial Portugues had their share of issues.

The article reports on the complaints of bankers that activity in the commercial paper (CP) market in Europe is low in December 2009. One dealer suspects that corporations have already been fulfilled in the term market, while financials have partly been fulfilled in the long end. Another dealer says Korean interest is still good, but banks are becoming less flexible on rates or currencies.

The article reports that sovereign, supranational and agency issuers have benefited from the increasing fears among banks over the financial system in Europe. However, bank volumes, at $41 billion, were only $7 billion less compared to a previous week in April 2008. According to a commercial paper (CP) head, the overall trend is characterised by traditional flight to quality flows. Most dealers agreed that demand was name-specific, rather than being based on the rating or spread of issuers.

The article presents updates on EuroCommercial Papers (CP) in the financial services industry in Europe as of November 25, 2005. A multicurrency EuroCP program is expected to be signed by Banco Popular Españl. The first issue from a multicurrency EuroCP program was issued by Marriott International. Maiden trades of a deal was printed by Golden Key. Johnson & Johnson and Honeywell are expected to launch their first issues. An increase in rates for the deal is expected by bankers from European Central Bank.

Presents a commentary on the European commercial paper (ECP) market as of September 10, 2004. Value of total new issuance in the EuroCP market; Activity in the maturity curve of the EuroCP market; Percentage recorded by banks, financial institutions and corporations of their share of new deals in the EuroCP market.

The article reports on the developments in the global financial market. According to Fitch Ratings, the prime money market funds in the U.S. have broadened their exposure to eurozone banks for the third consecutive months through end of September 2012. The opinion of Federated Investments' Deborah Cunningham on the market developments is also cited.

The article reports on the results of the European Central Bank's Euro Area Bank Lending Survey for April 2012, which indicated that 19 percent of Eurozone banks expect better access to commercial paper (CP), certificates of deposit and other short-term debt in the second quarter of 2012. The European Central Bank attributes the improved conditions to its long-term refinancing operations. Figures from Dealogic, however, show a decline in total euro CP outstanding for Eurozone banks.