Further, the percentage of corporate bonds issued relative to syndicated loans increased to 39 percent in 2012, up from 29 percent in 2011.
Also, whilst the banks are continuing to compete strongly for customer deposits, we are now seeing far more favourable conditions for banks accessing wholesale funding which could translate into further tightening of investment grade corporate margins for the remainder of 2013.
- Australian loan market volume picks up in Q4 2012, however activity and transaction volumes are still lower relative to the refinancing peaks of 2011.
- Banks' cost of funding comes under the spotlight.
- Australian corporates tapping the US Term Loan B Market.
- S&P changes its rules on the 'equity credit' afforded to hybrid issuances.
- Basel III delayed and relaxes liquidity ratio rules.