Are we moving towards a diversified financing landscape?

Thursday 10 October 2013

The debate continues as to whether today's bank financing environment is as good, better or worse than in 2008. The situation seems to be materially different for core Eurozone countries (Germany, France, The Netherlands, Belgium) than for peripheral countries (Italy, Spain, Portugal). On top of that, a number of interesting corporate funding alternatives have arisen, commonly referred to as "shadow banking". Also debt capital markets activity (issuance of corporate bonds) is at record levels. It is more than ever clear to us that European corporates have finally started to diversify their corporate funding, but Europe still has a long way to go when compared to the US.

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