The global default rate for speculative-grade corporate bond issuers fell to 10.1% in July from 10.3% in June, reflecting a slight decline in the still high pace of defaults, Moody’s Investors Service said today. Worldwide, 16 issuers defaulted on a total of $33.4 billion of debt in July. Moody’s said the total dollar volume of defaults in July surpassed April 2002 ($19.1 billion) as the highest dollar default volume for a single month. Moody’s said July’s default volume was boosted by the largest corporate bond default ever, WorldCom’s Chapter 11 filing, which included $23.2 billion of bonds. In addition to WorldCom, notable defaults in July 2002 were Intermedia Communications Corporation ($3.1 billion), MCI Communications Corporation ($2.6 billion), Callahan Nordrhein-Westfalen ($2 billion), and US Airways ($419 million).
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more