Fitch Ratings has upgraded Romania's long term foreign currency and local currency sovereign ratings from 'BB' to 'BBB ' and from 'BB+' to 'BBB' respectively. At the same time, the Short term rating and Country Ceiling have been upgraded from
The first Bulgarian lev denominated international bond, issued by the European Investment Bank (EIB), sold well says lead manager Bank Austria Creditanstalt (BA CA). The bond's price has appreciated by one percentage point since launch. The BGN 100 million(approximately Euros
Inter dealer broker ICAP has claimed leadership of electronic broking in the European repo market. The claim came as ICAP published data showing overall volumes on its electronic broking platforms reached a record level of US$45.9 trillion in the third
Eurex Repo, the electronic repo market owned by Deutsche Borse, saw its average outstanding volume in Q3 the key figure for repo markets up 30 percent on the same quarter of last year, rising to Euros 60 billion (US$ 75
The Budapest Stock Exchange has met with local regulators (the PSZF), the Ministry of Finance and the local custodian banks and brokerage companies to discuss the current status of securities lending in Hungary, with a view to reviving a moribund
Since 1 September the International Securities Lending Association (ISLA) has admitted borrowers as well as lenders to membership. Since its inception in 1989 ISLA has been an association for the securities lending industry, but to date its membership has been
The Athens Exchange (ATHEX), the Central Securities Depository (CSD) and the Athens Derivatives Exchange Clearing House (ADECH) have proposed changes to the stock lending and borrowing mechanisms in Greece. The proposals are currently being studied by the authorities in Athens,
The number of US corporate treasurers concerned about regulatory compliance increased from 5% in 2003 to more than 30% in 2004. Polled about the key issues they currently face, corporate Treasurers put regulatory compliance, primarily Sarbanes Oxley, at the top
Citigroup will re pay New York City pensions at least $15 million related to the collapse of National Century Financial Enterprises, the company and city said on Friday. The New York City pension funds lost $80 million on cash collateral
The repo committee of the International Securities Market Association(ISMA) has confirmed that the interest on repo transactions in Japan will be free of withholding tax for another two years at least. On 7 August 2002 ISMA published the Japanese securities