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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.

Disintermediation via group insurers is the low hanging fruit for longevity de-risking

Ellen Snare,

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.

The rules are a salvo against recognising home country rules

Investment opportunities continue to increase. But uncertainties surrounding deal processes and risk mitigants are ever-present challenges

Who took home what from IFLR’s annual Asia awards

Europe’s most popular fund domiciles, as revealed by the global survey A global survey of 200 asset managers has revealed their priorities when choosing European fund domiciles, with some surprising results. The Economist Intelligence Unit survey, commissioned by Matheson and released on March 4, confirms previous reports that Ireland is Europe's fund domicile of choice. Other findings, however, challenge the traditional perceptions of the funds industry.

A new stock exchange geared towards startups is set to open in Chile in this summer. It should help the country achieve its goal of becoming a regional hub for startups. And its offering model could be exported to other jurisdictions.

European bank capital will come of age this year. Regulatory and market developments have combined to create long-awaited optimism around the asset class