Debt Management
Eurozone crisis altered sovereign spreads: IMF paper
Fund study says risk assessment of sovereigns and banking sector gradually converged as sovereign debt crisis evolved
IMF paper on how to negotiate a debt restructuring
Fund study shows full creditor participation requires haircuts and probability of successfully holding out for entire repayment is not too high
Ireland releases agreement on split of banking oversight responsibilities
Previously confidential memorandum of understanding between department of finance and central bank shows split of responsibilities; document forms part of bail-out programme
Trichet says China funding request is right thing to do
Outgoing ECB president denies it is embarrassing or humbling for Europe to have to ask other countries for financial support; insists it is "absolutely normal" in today’s global world
ECB’s Noyer says larger EFSF ‘unrealistic’
ECB governing council member says EFSF will not be made bigger; is open to schemes that would offer greater leveraging opportunities for money already committed
Government debt no longer risk-free: Canada’s Macklem
Bank of Canada senior deputy governor Tiff Macklem says government debt in advanced countries is unlikely to regain its risk-free status
NY Fed paper highlights risky debt management strategies
New York Federal Reserve study says high levels and maturities of debt risk increasing macroeconomic instability
Italy unfazed by S&P downgrade
Standard and Poor's downgrades Italy's credit rating by one notch to A; Italian government slams move, reaffirms confidence in fiscal reforms
IMF concern over ‘critical juncture’ of programme in Greece
IMF rejects criticism of economic programme to date; highlights areas that need attention to ensure recovery
Semi-government bond markets provide liquidity benefits: RBA paper
Reserve Bank of Australia study says semi-government bond market is important feature of Basel III liquidity reforms
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt
Bank of Israel paper reviews bond market reforms
Bank of Israel study shows success of reforms to local secondary government bond market were mixed
Greece may not opt for debt swap
Greek authorities say they will not agree to private-sector involvement unless 90% of eligible government bonds are included in transaction
ECB extends swap line agreement with BoE
The Bank of England and European Central Bank prolong swap line; new end date is September 28
Vote now: Should Greece leave the euro?
CentralBanking.com is running a poll to gauge readers' thoughts on the breakdown of the eurozone
Germany denies eurobond option
Talk of a common bond for the euro area dominates discussions ahead of meeting with European leaders on economic governance reform; Germany says topic will not feature on agenda
Three strikes and you’re out
Standard and Poor’s downgrade of US debt is just one of a handful of errors made by credit rating agencies, writes Robert Aliber
Dollar falls on S&P downgrade
Standard and Poor’s makes unprecedented move by becoming the first ratings agency to downgrade the US credit rating; gold hits record high as dollar falls
ABS markets influential on composition of international debt markets: ECB report
European Central Bank study on asset-backed securities markets provides valuable insight into the currency composition of international debt markets
Greece inches closer to default status
Fitch downgrades Greece’s long-term credit rating to CCC, one notch above default, in an active week for ratings agencies
China insists local government debt is ‘manageable’
People’s Bank of China dismisses claims local government financing vehicles owe 14 trillion yuan; says risks from the debts are manageable
European debt concerns spark bond market sell off
European bond markets tumble amid growing concerns over Italy’s ability to tackle its fiscal deficit; uncertainty over Greek rollover adds to market uncertainty
US will resolve debt crisis by August 2: Obama
President Barack Obama says failure to raise the US debt ceiling would be “not acceptable”
Eurogroup agrees to extend Greek loan
Eurogroup agrees to disbursement of €12 billion tranche for Greece from European Union and IMF; Fund will have final say