The facility will consist of USD and euro loans. VFS Global, the Zurich and Dubai headquartered provider of outsourced visa and consular services, is looking to raise the equivalent of $2 billion in term loans to refinance an existing debt and pay fees and expenses. The financing will be split in US dollar and euro […]
The role of non-bank financial intermediaries in funding markets and financial crises has increased in recent decades. This column examines the rise of the sector and the roles these intermediaries play in liquidity shock transmission. The growth of the non-bank financial intermediation sector can be attributed to technological changes, demographic shifts, and tighter regulation of […]
Exchange-traded funds and open-ended mutual funds have grown rapidly, and they are increasingly expanding into illiquid asset classes such as corporate bonds. This column argues that this trend could lead to increased volatility in corporate bond markets, especially during periods of market stress. Furthermore, risks vary significantly depending on the type of investor (retail or […]
