Bonds
Irish bonds sixth riskiest: report
Credit default swap spreads on Irish bonds spike more than any other in third quarter; Portugal also among ten riskiest sovereign issuers
Ireland’s Elderfield rules out senior debt haircuts
Holders of senior debt must not be forced to shoulder losses, but issuing banks could negotiate with them, says Central Bank of Ireland’s Matthew Elderfield
Nigeria limits state bond holdings; cleans up microfinance
Central Bank of Nigeria places limits on banks’ holding of state government bonds; revokes over a quarter of microfinance licences after serious problems revealed in sector
IMF: bond issuance creates more effective monetary policy channel
IMF study says government bond issuance can help mop up excess liquidity, making monetary policy more effective
Basel bids to make bondholders pay price of failure
Basel Committee on Banking Supervision says all instruments classified as tier one and tier two capital bear some of the cost of taxpayer support
SEC makes landmark fraud charge against US state
Securities and Exchange Commission makes its first-ever case against a state, on grounds of securities fraud; New Jersey alleged to have misled bond investors on pension contributions it was making
‘Bail-in’ rather than bailout, says European markets group
Association for Financial Markets in Europe proposes regulator-enforced version of contingent capital to replace state-funded bailouts; proposals still troublesome, Goodhart says
More transparency may harm bond markets
More transparency in European bond markets may mean less liquidity according to a recent report
Asia’s bonny bond markets
Asian central banks have been actively promoting domestic bond markets. Anthony Rowley reports.