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Apollo has become the first private equity firm to takeover a Spanish bank, revealing the Bank of Spain's new regulatory attitude towards financial sponsors as bank owners.

Are banks and Bitcoin firms at the start of a beautiful friendship? Bitcoin and banking need each other. So why can't the two get along? Since their creation, Bitcoin and other virtual currencies have lived in a murky world, with their anonymity and separation from official government bodies raising concerns. That has allowed the technology to capitalise on the best of the market, creating new ways to process payments, and transfer and exchange funds. Over this same period, the banking industry has faced greater regulation and political scrutiny. New requirements are adding to the sector's costs and processing times, cutting into traditional profit centres. A partnership between virtual currency firms and traditional financial institutions could benefit both their business and customers.

Alibaba has announced that it will list in the US, concluding speculation over whether New York or Hong Kong would host what's expected to be 2014's biggest initial public offering (IPO).

The rules are a salvo against recognising home country rules

Europe's equity markets are humming. Despite uncertainty over Russia's Ukrainian exploits, volatility is down and listing windows are open for longer.

IFLR's cover story this month looks at developments in contingent convertible bonds (also known as CoCos), and the rapid maturation of the bank capital market. CoCos are bonds that are designed to convert into shares or be wiped out if a bank runs into trouble. Because these securities receive a regulatory seal of approval as a way for banks to build loss-absorbing capital buffers, the instruments are quickly gaining popularity. Indeed, Santander and Danske Bank have both recently issued CoCos. Even Nationwide, a mutual with no equity into which the bonds can convert, has now found a way to enter the market.

Hogan Lovells' Alex Sciannaca and Giles Hutt analyse the steps being taken by the US and EU to implement the global convention on choice of law agreements

Statutory amendments taking effect in May give investment funds greater scope when investing in the African region. These are the soon-to-be-available structuring tools

UBS’s purchase of StabFund from Swiss National Bank ended the stabilisation transaction it launched in 2008. Here’s what it means for the country’s banks

Sanctions placed on Russian and Ukrainian officials by the US and EU are constantly evolving, forcing banks and other financial institutions to take a proactive approach to due diligence and financing