New Developments 2003 New Developments 2003
New Developments 2003

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December 30, 2003

Revised Brady Bond Holiday Schedule for Wednesday, December 31.  

December 19, 2003

EMCC Files Rule Change with the SEC Relating to ISMA’s New Buy-In/Sell-Out Rules.  

December 18, 2003

ISMA Issues New Buy-In/Sell-Out Rules.  

December 17, 2003

Calculations for Payments on Mexico VRR’s, Series B, Announced.  

December 11, 2003

Brady Bond Holiday Schedule for Christmas, Boxing Day and New Year's Holidays.  

2004 Holiday Schedule.  

2004 Batch Settlement Schedule for Certain Class I Loan Assets. 

December 4, 2003

EMTA’s Annual Meeting Focuses on Argentina.

  • EMTA Seeks to Promote Better Dialogue
    [Excerpt from Michael Chamberlin's Remarks]  
  • ABC Describes their Counterproposal;
    Announces Agreement in Principle among Creditors to Form Global Steering Committee to Negotiate with Argentina.
  • Secretary Nielsen Senses Common Ground with Creditors; Reaffirms that Argentina will not Make Unilateral Offer. While declining to discuss in any detail his December 3 meeting with ABC, or his reaction to the ABC Counterproposal, Secretary Nielsen did note his sense that Argentina and its Creditors were "getting closer to common ground" in their restructuring dialogue. Click on the following links for Mr. Nielsen's speech. Click Here for English Version. Click Here for Spanish Version.
 

December 3, 2003

Costa Rica Announces of All Outstanding Series B 6-1/4% Bonds Due 2015.  

Argentina Bondholders Committee presents Counter Guidelines to Argentina.  

EM Sovereign Bond Documentation Chart for Peru. 

December 2, 2003

Amendment to Korean Won Rate Source Definitions Published by EMTA, ISDA and the FXC. 

December 1, 2003

Treasury Imposes Special Measures Against Burma: Davis Polk & Wardwell Memorandum and US Treasury Regulations. 

November 26, 2003

EMTA's Fourth Quarter Bulletin is Now Available in our Bulletin Section. 

November 24, 2003

Declaration of Troland Link in LNC Investments v. Nicaragua and Euroclear. 

November 21, 2003

Quarterly NDF and EM Credit Derivatives Surveys Suspended Pending Further Development. 

November 17, 2003

EMTA Announces 3Q 2003 Debt Trading Volume Stood at US$1.033 Trillion. 

November 13, 2003

Brady Bond Holiday Schedule for US Thanksgiving Holiday.  

November 5, 2003

Revised Brady Bond Holiday Schedule for US Veterans Day Holiday.  

October 30, 2003

Brady Bond Holiday Schedule for US Veterans Day Holiday.  

October 29, 2003

Mexico VRR, Series B, Record Date of December 15 and Payment Date of December 31 Expected. Trades are ‘Ex-Dividend’ on December 11. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

October 28, 2003

Guillermo Nielsen, Secretary of Finance, Republic of Argentina, to Deliver Keynote Address at EMTA's Annual Meeting on Thursday, December 4, 2003. Click Here to Register.

October 27, 2003

New Feature on EMTA's New Developments Page! Argentine Economic News Can Now Be Found By Clicking Argentina Economic News on the Right Side of This Screen. Argentine Economic News Previously on the New Developments Main Page Have Been Moved to This Location, and New Items Will Be Listed in This New Section.

October 15, 2003

The Central Bank of Thailand Imposes Further Capital Controls on the Thai Baht. 

October 9, 2003

Invitation and Booking Form for Annual Emerging Markets Charity Benefit Scheduled for December 4, 2003 in New York City.

October 6, 2003

SAVE THE DATE! EMTA Annual Meeting and EM Charity Benefit Scheduled for December 4, 2003 in New York City.  

October 2, 2003

Emerging Markets Benefit Attendees in London Raise Money to a Samba Beat.  

Emerging Markets Benefit Ball Held in London (Article Posted with the Permission of IFR).  

Brady Bond Holiday Schedule for US Columbus Day Holiday.  

October 1, 2003

Citibank Notice on Argentina’s Floating Rate Bonds. 

September 30, 2003

Poland Redeems Remaining Debt Conversion Bonds on October 27. 

September 29, 2003

EM Sovereign Bond Documentation Chart for Turkey. 

September 24, 2003

Brussels Court Decision in Nicaragua v. LNC Investments and Euroclear. For further info, pls contact awerner@emta.org. 

September 22, 2003

EMTA's Third Quarter Bulletin is Now Available in our Bulletin Section. 

September 20, 2003

Argentina's Ministry of Economy Releases IMF Agreement. 

September 19, 2003

EM Sovereign Bond Documentation Chart for Venezuela. 

September 18, 2003

District Court Decisions in EM Ltd. v.The Republic of Argentina. 

September 16, 2003

Calculations for Payments on Mexico VRR’s, Series B, Announced.  

September 15, 2003

EMTA Annual Fall Forum in New York City to be Held on October 9, 2003. Click Here to Register.

Effective September 12, 2003 The Bank of Thailand Imposes Capital Controls in Respect of the Thai Baht.  

"Restructuring Sovereign Debt: The Case for Ad Hoc Machinery." September 15, 2003 - Lex Rieffel, Study Funded in Part by EMTA and IPMA.  

September 10, 2003

Cleary Gottlieb Memo Re: Beneficial Holder Status to Sue, together with two related cases: Oaktree and MacKay. 

September 3, 2003

Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s USD Discount Series L Bonds. Record Date of September 18 and Payment Date of September 25 Expected.  

August 25, 2003

EM Sovereign Bond Documentation Charts for Brazil and Guatemala.

August 20, 2003

Invitation and Booking Form for Emerging Markets Benefit Dinner to be Held in London October 2, 2003.

August 19, 2003

Emerging Markets Benefit Limited Announces Plans to Revive London Charity Dinner for Emerging Markets Debt Industry.  

August 18, 2003

EMTA Announces 2Q 2003 NDF Volumes at US$320 Billion; Credit Derivatives at US$49 Billion.  

Fiscal Agent Notice that No Collateral Remains for Interest Payments on Argentina’s Par Bonds (Including May 31, 2003 Interest Payment).  

August 15, 2003

EMTA Recommends Early Close Today at 9:30 am (NYC time).  

EMTA Expects NYC Trading Market to be Open Today Despite Last Night's Power Outage.  

August 14, 2003

EMTA Announces 2Q 2003 Debt Trading Volume Stood at US$1.086 Trillion.  

Brady Bond Holiday Schedule for UK Summer Bank and US Labor Day Holidays.  

August 7, 2003

Mexico VRR, Series B, Record Date of September 15 and Payment Date of September 30 Expected. Trades are ‘Ex-Dividend’ on September 11. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

August 4, 2003

EMCC Temporary Rebate.  

July 30, 2003

Venezuela BuyBack of Brady Bonds. 

July 18, 2003

Treasury's OFAC Issues Interpretive Guidance on Trading of Iraqi Commercial or Sovereign Debt.  

July 17, 2003

EM Sovereign Bond Documentation Chart for Morocco.  

July 1, 2003

Citibank Clarifies No Principal Payment on Mexico VRR's, Series A, Expired on June 30, 2003.  

June 26, 2003

Argentine Ministry of Economy Issues Communiqué to Its Creditors.  

June 23, 2003

EMTA publishes its NDF Market Practice No. 32 extending the "Drop-dead Date" from 8 to 30 days for Non-Deliverable FX and Currency Option Transactions in Various Latin American Currencies. Members Only can view this NDF Market Practice by Clicking Here. 

June 19, 2003

Brady Bond Holiday Schedule for US Independence Day Holiday.  

June 18, 2003

EM Sovereign Bond Documentation Charts for Belize and Ukraine.

June 16, 2003

Calculations for Payments on Mexico VRR’s, Series A, Announced.  

Mexico's Ministry of Finance Announces It Will Call LRA, SSF, DGU and DMK Par Bonds. (Mexico Becomes First Country to Retire Entire Brady Issuance.)  

June 12, 2003

EMTA's Second Quarter Bulletin is Now Available in our Bulletin Section. 

EM Sovereign Bond Documentation Charts for Brazil and Mexico. 

June 9, 2003

Chamberlin Remarks at Int’l Insolvency Institute.  

June 6, 2003

"Restructuring Sovereign Debt: The Case for Ad Hoc Machinery," by Lex Rieffel, Study Funded in Part by EMTA and IPMA, to be Published in September 2003.  

June 5, 2003

New Market Practice for Uruguay USD PIK Bonds.  

New Class I Loan Assets List. 

May 29, 2003

EMTA Annual Summer Forum in London to be Held on June 17, 2003. Click Here to Register.

EM Sovereign Bond Documentation Chart for Korea.  

May 28, 2003

Mexico VRR Record Date of June 13 and Payment Date of June 30 Expected. Trades are ‘Ex-Dividend’ on June 11. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

May 23, 2003

EM Sovereign Bond Documentation Charts for Brazil, Mexico and South Africa, as well as for 2000 Ecuador and Russia. 

May 22, 2003

In Memoriam, Susan BerganFebruary 12, 1942 - May 18, 2003.  

WI Confirmation Form for Uruguay Bond Trades.  

May 21, 2003

EMTA Issues New NDF Market Practice for VEB/USD Non-Deliverable FX and Currency Option Transactions.  

May 20, 2003

Memorial Service for Susan Bergan  

The Memorial Service for Susan Bergan has been Scheduled for 11:00 AM on Thursday, May 22 at The Brick Church, on Park Avenue at 91st Street. There will be a Reception Following the Service on the Third Floor of The Brick Church Parish House. If You Have Any Questions, Feel Free to Call (212-771-4080) or E-mail penny.foley@tcw.com or david.robbins@tcw.com.

May 16, 2003

Citibank Informs EMTA of Missed Payment on Nigeria Payment Adjustment Rights. Previous Payment Due on May 15, 2001 was Paid with Interest on November 15, 2001.

May 15, 2003

Press Release Issued by the Argentine Ministry of Economy Regarding Formation of Investor Groups.  

Brady Bond Holiday Schedule for US Memorial Day and UK Spring Bank Holidays.  

May 14, 2003

EMTA Announces 1Q 2003 Debt Trading Volume Stood at US$839 Billion; NDF Volume at US$174 Billion; EM Credit Derivatives Volume at US$23 Billion.  

Costa Rica Announces Redemption of All Outstanding Series A 6 1/4% Bonds Due 2010. 

May 2, 2003

EM Sovereign Bond Documentation Charts for Brazil and Mexico. 

May 1, 2003

EMTA, with the Assistance of the Participating Banks, Successfully Launched its Automated Version of the ARS Industry Survey on April 23, 2003. CLICK HERE for Daily and Historical Survey Results and Reference Bank Quotes.

April 30, 2003

Calculations for Payments on Nigeria Payment Adjustment Rights. 

April 24, 2003

Guillermo Mondino, Former Argentine Secretary of Economic Policy, to Speak at EMTA's Spring Forum. Click Here to Register.

Brady Bond Holiday Schedule for UK May Day Bank Holiday.  

April 21, 2003

EMCB Application for Tax-Exempt Status is Provisionally Approved; Final Ruling Expected in 2007.

April 16, 2003

EM Sovereign Bond Documentation Charts for Mexico and Uruguay.

IMF Statement Re: Uruguay Exchange Offer. 

April 12, 2003

IMF Spring Meetings -- Official Communiques and Statements: Official Sector Lauds Mexico for Introducing CACs, SDRM Called "Not Feasible'.

 

April 10, 2003

EMTA Announces Spring Forum to be Held in New York on May 1, 2003. Click Here to Register.

Brady Bond Holiday Schedule for Good Friday/Easter Monday Holidays.  

April 8, 2003

EMTA's First Quarter Bulletin is Now Available in our Bulletin Section.  

Notice from Fiscal Agent on Mexico Redemption of USD Series A and B Par Bonds.  

April 7, 2003

Mexico's Ministry of Finance Announces It Will Call USD Series A and B Par Bonds.  

April 4, 2003

Poland Redeems Remaining PDI Bonds on April 28.  

March 21, 2003

EMTA Issues New NDF Market Practice for Chilean Peso/U.S. Dollar Non-Deliverable FX and Currency Option Transactions.  

March 17, 2003

Calculations for Payments on Mexico VRR’s, Series A, Announced. Please note that Value Recovery Payment indicated is per $1,000 notional amount of VRR's.

March 3, 2003

Amendment to Annex A Taiwanese Dollar Rate Source Definition.  

February 28, 2003

Argentine Ministry of Economy Issues Communiqué to Its Creditors.  

February 26, 2003

EMCA Releases Statement on Mexico's Decision to Issue Bonds Containing Collective Action Clauses (CACs).  

February 24, 2003

U.S. Treasury Statement Regarding the Decision by Mexico to Issue Bonds with Collective Action Clauses.  

Mexico VRR Record Date of March 14 and Payment Date of March 31 Expected. Trades are ‘Ex-Dividend’ on March 12. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

February 10, 2003

EMTA Announces 2002 Annual EM Debt Trading Volume Stood at $3.068 Trillion.  

February 6, 2003

The Gaceta Oficial de la Republica Bolivariana de Venezuela Dated February 5, 2003 Publishes New Regulations Establishing a New Foreign Exchange Regime in Venezuela Centralizing the Buying and Selling of Foreign Exchange with the Banco Central de Venezuela, Fixing an Official VEB/USD Exchange Rate and Establishing a New Administration (CADIVI) to Administer the New Regime and to Issue Implementing Regulations.

Brady Bond Holiday Schedule for US Presidents' Day Holiday.  

February 3, 2003

EMTA, Other Financial Trade Ass'ns Distribute Marketable Bonds Package to G-10 Finance Ministers.  

January 31, 2003

Citibank, as Fiscal Agent, Requests FRBNY, as Collateral Agent, to Release Interest Collateral on Argentina’s Par Bonds and Discount Bonds. Record Dates of February 26 and Payment Dates of March 5 Expected.

January 28, 2003

EMTA Issues New VEB NDF Market Practice.  

January 27, 2003

Argentina Releases IMF Letter of Intent, including  Cover Letter , Memorandum of Economic Policies, Quantitative Performance Targets, and Technical Memo of Understanding.

January 23, 2003

The Bond Market Association Posts an Exposure Draft of the Cross-Product Master Agreement (Cross-Affiliate Version 2.1) and Guidance Notes.

January 21, 2003

Argentina Bondholders Committee Issues Press Release on Argentina's Agreement with the IMF.  

January 16, 2003

Argentina Announces It Has Reached an Agreement with the IMF for a Stand-By Program.  

January 9, 2003

Brady Bond Holiday Schedule for Martin Luther King, Jr. Holiday.  

January 7, 2003

IMF Board Discusses Possible Features of a Sovereign Debt Restructuring Mechanism. CLICK HERE for IMF Paper "The Design of the Sovereign Debt Restructuring Mechanism -- Further Considerations."

Nigeria Announces Collateral Value for Par Bond Invitation.  

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