ECB ISSUANCES
India Inc raises record debt capital in FY24
India Inc raised more debt capital in FY24 compared to the previous fiscal, with increased interest from both local and overseas investors in Indian companies. According to the Reserve Bank of India's state of the economy report, bond issuances during 2023-24 grew by about 15% to Rs 8.6 lakh crore. Additionally, corporations received higher funds through external commercial borrowings in FY24, with registrations, disbursements, and net inflows substantially higher than FY23 levels.
Shriram Finance plans to raise $200 million
The company has sought interest from foreign banks for what will be classified as a social loan because of Shriram's lending profile which includes loans to small entrepreneurs and vulnerable social groups.
Digital euro will be free but limited in scope, ECB says
The ECB is working on a digital version of its currency and is in the process of outlining the broader design, also hoping to alleviate concerns that the digital currency could disrupt the financial system and give the central bank too much data on citizens.
Rising interest rates to mute bond issuance this fiscal: Report
Thanks to bumper sales in Q2, the overall bond issuances rose to Rs 3.3 lakh crore in the first half, and the agency expects Rs 3.7-4.2 lakh crore sales in H2 FY23, marginally higher than the year-ago period, taking the volume of outstanding bonds to Rs 41-42 lakh crore by March 2023. However, this translates into a muted on-year growth of just 4-5 per cent.
Fed's Brainard: We can't take global status of US dollar for granted
Brainard has emerged as a supporter of the idea while some other Fed policymakers, including Fed Governor Christopher Waller, are more skeptical and point out that many dollar transactions are already digital, and have also raised privacy concerns. The Fed as a whole has indicated it would not launch one without clear support from the White House and lawmakers.
ECB seeks to reconcile soaring inflation with war risks
With inflation in the euro zone at a record high even before Moscow began its assault on Feb. 24, policymakers had been expected to announce an end to years of money-printing stimulus, opening the way for an interest rate hike late this year.
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Unloved euro catches a breath ahead of ECB
The euro took a breather on Wednesday ahead of this week's central bank meeting, while commodity currencies eased from recent peaks as investors reckoned war-driven surges in energy, grains and metals could end up crimping demand in the long run.
When is a crisis no longer a crisis? A dilemma for the ECB
The ECB's 1.85 trillion euro emergency asset purchase scheme will continue until the "crisis phase" of the pandemic is over -- a deliberately vague, ambiguous formulation that gives the bank plenty of flexibility and room for debate.
European bond markets seek post-Fed direction; focus on ECB, sales
"I think bond markets are trying to establish new ranges while they are digesting the FOMC message last week," said Piet Christiansen, chief analyst at Danske Bank, referring to the Fed.
Fed may need more than words in next battle with markets
Markets facing off against central banks is nothing new and the old adage "Don't fight the Fed" still holds. But market clout has grown too.
EU eyes dollar’s global dominance in a bid to bolster the euro
The European Commission blueprint will outline how the region can fortify its economic and financial resilience by bolstering the single currency’s architecture and through growing markets like green finance, according to a draft of the plan seen by Bloomberg.
ECB will raise interest rates if needed, but shift can take some time
"In their own interest, governments should prepare for a rise in interest rates and not pretend that their debt burden can be serviced easily," said Bundesbank President Jens Weidmann.
ECB's Lagarde takes benign view on growth, euro strength
While warning that a second wave of coronavirus infections represented "headwinds", Lagarde announced a slight upgrade in the bank's 2020 growth forecast on the back of a strong rebound in activity and signalled higher underlying inflation.
Spot gold hits ex-tax record high of Rs 50,019
The demand for jewellery remains tepid, but investment demand, whether through sovereign gold bonds or ETFs have risen during the Covid-induced lockdown.
Excessive central bank support may create zombie markets disconnected from fundamentals: Mohamed El-Erian
‘Market is overlooking near-term challenges’
Euro hits three-month high, Italy's bonds rally as ECB ramps up stimulus
The euro rallied to three-month highs at $1.1328 and was last up 0.75% on the day.
Companies tap bond markets at record rate to ride out coronavirus downturn
In Europe, investment grade-rated companies raised $83.2 billion in April, according to Refinitiv data.
LEF norms test for foreign banks
The RBI’s Large Exposure Framework (LEF) regulations for banks came into effect from April 2019.
Companies' foreign borrowings down 45% to $2 billion in December 2019
Indian firms had raised $3.81 billion in December 2018, which included $37 million through issuance of masala bonds.
Fed still needs to cut rates by 50 bps or more: Julian Brigden
"Two months ago, I was saying the Fed needs to cut, and we are still having that debate"
India Inc’s dollar bond issuances on course to surpass 2017 record
Easier global liquidity and RBI allowing new sectors to borrow overseas add to rush
New ECB norms limit refinancing options: Fitch
Eligible borrowers will now be allowed to raise up to $750 million per financial year without approval.
Sensex Week Ahead: Q2 earnings, F&O expiry to dominate proceedings
The European Central Bank (ECB) is scheduled to release its rate-setting policy on Thursday.
RBI tightens rules for masala bonds issuances
Masala bonds are catching up fast as a source of raising fund from overseas markets.
Learn with ETMarkets: Impact of revised ECB norms on startups
The regulator has permitted them to access funds under the ECB framework. ET looks at how it impacts the system.
IFMR Capital executes Rs 150 Crore NCD issuance for Janalakshmi Financial Services
IFMR Group has successfully executed the issuance of senior secured non-convertible debentures aggregating to Rs 150 Crore for Janalakhsmi.
Housing firms prefer bond issuances over bank loans on softening rates
With softening of rates in the corporate bond market, housing finance firms are preferring bond issuances over bank loans.
Ease end-use curbs for issuance of ECBs, FCCBs: Assocham
To facilitate long-term fund raising by infrastructure companies, Assocham has demanded easing of end-use restrictions for issuance of commercial borrowings ECBs and FCCBs.
RBI eases norms for issuance of equity shares under FDI
Easing foreign direct investment (FDI) norms, Reserve Bank has allowed companies to issue equity shares to a resident outside India.
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