New Developments 2012 New Developments 2012
New Developments 2012

In this area, EMTA posts current information regarding EMTA projects and other matters deemed of interest to participants in the Emerging Markets trading and investment community. To submit materials for posting to this area, please contact EMTA by e-mail at sortiz@emta.org. EMTA generally disclaims responsibility for the content of materials received for posting from outside sources.

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December 20, 2012
Standard & Poor's Downgrades Cyprus’s Long-Term Sovereign Credit Rating from B to CCC+. 

Calculations for Payments on Uruguay VRR's Announced.

December 18, 2012
EMTA’s Second Annual Miami Forum to be held on January 22, 2013. Click Here to Register.

Standard & Poor's Upgrades its Long-Term Foreign Currency Sovereign Credit Rating on Greece from SD to B-.

December 14, 2012
Standard & Poor's Downgrades Croatia's Long-Term Sovereign Credit Rating from BBB- to BB+.

December 12, 2012
Holiday Schedule for EM Bond Trades for Christmas, Boxing Day and New Year's Holidays.

December 7, 2012
Standard & Poor’s Downgrades Ukraine’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to B.

December 5, 2012
EMTA Special Seminar: Recent Legal Developments in Argentine Debt to be Held in New York on January 7, 2013. Click Here to Register.

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

December 4, 2012
EMTA Announces 3Q 2012 EM Volume Stood at US$1.296 Trillion.

Belize Coordinating Committee Response to Belize’s Press Release Announcing the Beginning of Debt Negotiations with Bondholders.

December 3, 2012
2012 List of Items Available for the Emerging Markets Charity Benefit Silent Auction to be Held in New York on December 6, 2012 Available Now! 

November 30, 2012
EMTA Special Seminar: Developments in Mexican Insolvency Law, Recent Cases and Implications for EM Corporate Bonds

November 29, 2012
Government of Belize Press Release Updating Restructuring Progress.

November 28, 2012
Fitch Downgrades Argentina’s Long-Term Foreign Currency Issuer Default Rating from B to CC.

Fifth Circuit Opinion in Vitro Litigation.

November 27, 2012
2013 Holiday Schedule. 

2013 Batch Settlement Schedule for Certain Class I Loan Assets. 

November 26, 2012
EMTA Announces 3Q 2012 EM CDS Volume Stood at US$213 Billion. 

For Recent Developments in NML Capital and Aurelius Capital v. Argentina Litigation, Visit EMTA's Litigation Area.

November 23, 2012
Standard & Poor’s Downgrades Hungary’s Long-Term Foreign Currency Sovereign Credit Rating from BB+ to BB.  

November 20, 2012
EMTA Affirms ‘Flat’ Trading for Ivory Coast Bonds; ‘With Accrued Interest’ Trading to Commence on January 1, 2013.

Fitch Upgrades Kazakhstan’s Long-Term Foreign Currency Issuer Default Rating from BBB to BBB+.

November 16, 2012
FX Swaps and Forwards Exempt From the Provisions of the Dodd Frank Act; NDFs Excluded. 

November 14, 2012
EMTA Special Seminar: Developments in Mexican Insolvency Law, Recent Cases and Implications for EM Corporate Bonds to be Held on November 30, 2012. Click Here to Register.

Recent Developments in NML Capital and Aurelius Capital v. Argentina Litigation.

November 13, 2012
Ivory Coast Announces Close of the Exchange Agreements and Issuance of New Bonds. 

November 12, 2012
Ivory Coast Signs Supplemental Indenture. 

November 9, 2012
Standard & Poor’s Upgrades Latvia’s Long-Term Foreign Currency Rating from BBB- to BBB.

November 7, 2012
Holiday Schedule for EM Bond Trades for US Thanksgiving Day Holiday. 

Raffle Tickets for EM Charity Benefit NY Now on Sale!

NML Capital and Aurelius Capital v. Argentina.

Standard & Poor’s Upgrades Nigeria’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to BB-. 

November 6, 2012
EMTA Annual Meeting in New York to be Held on December 6, 2012. Click Here to Register.

Ivory Coast Receives Requisite Consents. 

EMTA updates its Recommended FX and Currency Derivatives Market Practice No. 45 on Determining Barrier Breaches in BRL Non-Deliverable Continuous Barrier Option Transactions. CLICK HERE to view this updated Market Practice.

November 5, 2012
Fitch Upgrades Turkey’s Long-Term Foreign Currency Issuer Default Rating from BB+ to BBB- (Investment Grade).

November 2, 2012
Fiscal Agent Notice Regarding November 15, 2012 Payment on Nigeria Payment Adjustment Rights. 

November 1, 2012
Holiday Schedule for EM Bond Trades for US Veterans Day Holiday. 

October 31, 2012
EMTA Special Seminar: Developments in Mexican Insolvency Law, Recent Cases and Implications for EM Corporate Bonds to be Held on November 1, 2012. POSTPONED.

October 30, 2012
EMTA recommends that EM Markets be Open on Wednesday, October 31, 2012.

October 29, 2012
Early Market Close, 12:00 Noon, Monday, October 29, 2012 and Full Close on Tuesday, October 30, 2012 due to Hurricane Sandy.

October 26, 2012
Market Reaction to the United States Second Circuit Court of Appeals’ Decision Regarding Argentina – Commentary from Bulltick CapitalGoldman SachsScotia Capital and UBS.

NML Capital and Aurelius Capital v. Argentina.

October 25, 2012
Republic of Cote D'Ivoire Presentations - in English and French.

October 19, 2012
Calculations for Payments on Venezuela Oil Obligations Announced.

Sanctions Against Iran - Council Decision 15102012 - Cleary Gottlieb Memo.

October 18, 2012
Ivory Coast Launches Consent Solicitation.

October 16, 2012
Standard & Poor’s Raises Grenada’s Foreign Currency Ratings to CCC+/C.

October 15, 2012
Communique from the Republic of Côte d'Ivoire to its 2032 Bondholders.

October 10, 2012
President Chavez Re-elected in Venezuela.  Market reaction by Bulltick Capital MarketsGoldman Sachs and UBS.

October 9, 2012
EMTA Special Seminar: Vitro and Cemex: Developments in Mexican Insolvency Law and Implications for EM Corporate Bonds to be Held on November 1, 2012. Click Here to Register.

October 8, 2012
Standard & Poor’s Lowers Grenada’s Foreign Currency Ratings to Selective Default.

October 4, 2012
BTA Bank Press Release Regarding its Restructuring.

October 2, 2012
Press Release from Government of Belize Announcing the Beginning of Debt Negotiations with Bondholders. 

September 28, 2012
Venezuela Oil Obligations Effective Record Date of September 28 and Payment Date of October 15. Trades are "Ex-Dividend" on September 26.

September 26, 2012
Holiday Schedule for EM Bond Trades for US Columbus Day Holiday. 

September 21, 2012
Notice from Bank of New York, Belize Trustee, Regarding Record and Payment Dates.

Communique from the Republic of Côte d'Ivoire to its 2032 Bondholders. 

September 20, 2012
Press Releases by Belize and Belize Coordinating Committee on a Partial Payment.

September 13, 2012
Standard & Poor's Upgrades South Korea’s Long-Term Foreign Currency Rating from A to A+.  

September 11, 2012
EMTA's Third Quarter Bulletin is Now Available in our Bulletin Section.

September 10, 2012
EMTA's Seventh Annual Forum in Hong Kong to be Held on Wednesday, October 17, 2012. Click Here to Register.

September 6, 2012
MarketAxess Announces Ninth Annual Charity Trading Day to Benefit EM Charities.

Fitch Upgrades South Korea’s Long-Term Foreign Currency Issuer Default Rating (IDR) from A+  to AA-. 

September 5, 2012
List of Live and Silent Auction Prizes for Annual EM Benefit to be Held in London on September 21.

EMTA's Seventh Annual Forum in Singapore to be Held on Monday, October 15, 2012. Click Here to Register.

Redemption Notice for Poland's Par Bonds and RSTA Bonds. 

September 4, 2012
EMTA Fall Forum in New York to be Held on September 27, 2012. Click Here to Register.

August 28, 2012
New Expanded Iran/Syria Sanctions Legislation Enacted - Baker Hostetler Memo.

Press Release Issued by Belize Co-ordinating Committee.

August 21, 2012
EMTA Recommends Flat Trading For Belize’s 2029 Bonds.

Standard & Poor’s Downgrades Belize’s Long-Term Foreign Currency Sovereign Credit Rating from CC to SD.

August 20, 2012
EMTA Announces 2Q EM 2012 Debt Trading Stood at US$1.413 Trillion.

EM Ltd. and NML Capital v. Argentina.

August 16, 2012
Holiday Schedule for EM Bond Trades for UK Summer Bank and US Labor Day Holidays. 

August 14, 2012
Press Release from Belizean Ministry of Finance, “Unable to Make Coupon Payment.”

Standard & Poor’s Downgrades Belize’s Long-Term Foreign Currency Sovereign Credit Rating from CCC- to CC.

August 13, 2012
President Signs Major New Iran and Syria Sanctions Legislation - Cleary Gottlieb Memo.

Statement from Belize Coordinating Committee Following Release of Indicative Restructuring Scenarios.

CFTC’s Final Rules Definition of Swap, Security-Based Swap, and Security-Based Swap Agreement.

August 8, 2012
Belize Releases Indicative Restructuring Scenarios.

August 7, 2012
Standard & Poor's Downgrades Serbia's Long-Term Foreign Currency Sovereign Credit Rating from BB to BB-.

August 3, 2012
Obama Administration Announces New US Sanctions Targeting Iran - Cleary Gottlieb Memo.

July 25, 2012
Litigation Against Argentina - Views by Anna Gelpern (American University) and Felix Salmon.

July 23, 2012
EMTA Announces 2Q 2012 EM CDS Volume Stood at US$218 Billion.

Final Report of Expert Group Meeting on Sovereign Debt Restructuring on May 18, 2012.  See The Financing for Development Office (FfDO) and The Centre for International Governance Innovation (CIGI) websites for more information.

July 16, 2012
FXC releases the results of its sixteenth Survey of North American Foreign Exchange Volumes.

July 10, 2012
“Night of the Dragon,” Emerging Markets Benefit to be Held in London on September 21, 2012. CLICK HERE for the Invitation.

July 5, 2012
Communique from the Republic of Cote d'Ivoire to its 2032 Bondholders.

July 4, 2012
Standard & Poor's Upgrades The Philippines’ Long-Term Foreign Currency Sovereign Credit Rating from BB to BB+. 

July 2, 2012
Standard & Poor's Upgrades Panama's Long-Term Foreign Currency Sovereign Credit Rating from BBB- to BBB. 

June 29, 2012
EMTA Affirms Market Practice Recommendation for Ivory Coast 2032 Bonds.

Calculations for Payments on Uruguay VRR's Announced.

June 28, 2012
Revised Holiday Schedule for EM Bond Trades for US Independence Day Holiday. 

June 25, 2012
Emerging Markets Charity Benefit to be Held in New York on Thursday, December 6, 2012.  CLICK HERE for the Invitation.

Vitro’s Mexican Plan of Reorganization Denied Comity in the U.S. (Davis Polk Memo).

June 22, 2012
Standard & Poor’s Reaffirms Gabon’s  Foreign Currency Sovereign Credit Rating of BB-Following Coupon Payment.

June 20, 2012
Holiday Schedule for EM Bond Trades for US Independence Day Holiday. 

June 15, 2012
Fitch Downgrades Egypt’s Long-Term Foreign Currency Issuer Default Rating from BB- to B+.

June 14, 2012
EMTA Announces 1Q 2012 EM Debt Trading Stood at US$1.582 Trillion.

Communique from Ivory Coast Minister of Economy and Finance.

June 13, 2012
Presentation by Dr. Luis Liberman, Vice President of the Republic of Costa Rica, at EMTA’s Central American & Caribbean Forum.

Belize Coordinating Committee Announces Formation.

June 12, 2012
EMTA's Second Quarter Bulletin is Now Available in our Bulletin Section.

June 11, 2012
EMTA Issues its Recommended FX and Currency Derivatives on Monitoring RUB/USD Barrier Option Transactions.  CLICK HERE to view this Market Practice Market Practice No. 66.

EMTA Launches the Africa Focus Portal, providing convenient access to Africa-related resources on www.emta.org.

June 7, 2012
Fitch Downgrades Spain’s Long-Term Foreign Currency Issuer Default Rating from A to BBB.

Standard & Poor's Upgrades Ecuador’s Long-Term Sovereign Rating from B- to B.

May 31, 2012
EMTA Summer Forum in London to be Held on June 26, 2012. Click Here to Register.

May 23, 2012
Standard & Poor’s Downgrades Tunisia’s Long-Term Foreign Currency Sovereign Credit Rating from BBB- to BB.

May 16, 2012
EMTA Announces 1Q 2012 EM CDS Volume Stood at US$235 Billion. 

Holiday Schedule for EM Bond Trades for US Memorial Day, UK Spring Bank and Queen's Diamond Jubilee Holidays.

May 14, 2012
EMTA Central America & Caribbean Forum to be Held on June 13, 2012. Click Here to Register.

CFTC Proposes Order Amending Effective Date for Swap Regulation to December 31, 2012 (or until the CFTC's rules and regulations go into effect, whichever is sooner).

NML Capital and Aurelius Capital v. Argentina – Prof. Mann and EM Ltd. Amicus Brief.

May 2, 2012
EMTA Publishes Standard Terms for GHS/USD Non-Deliverable FX Transactions.  CLICK HERE for Recommended FX and Currency Derivatives Market Practice No. 65.

May 1, 2012
EMTA Corporate Bond Forum in New York to be Held on May 22, 2012. Click Here to Register.

April 30, 2012
Fiscal Agent Notice Regarding May 15, 2012 Payment on Nigeria Payment Adjustment Rights.

April 26, 2012
Standard & Poor’s Downgrades Spain’s Long-Term Sovereign Credit Rating  from A to BBB+.

April 25, 2012
NML Capital and Aurelius Capital v. Argentina – Argentina’s Reply Brief.

Holiday Schedule for EM Bond Trades for UK May Day Bank Holiday. 

April 24, 2012
NML Capital and Aurelius Capital v. Argentina – Argentine Law Professors’ Amicus Brief and Professor Dam’s Amicus Brief.

April 19, 2012
EMTA Special Seminar on the Offshore Renminbi (CNH) Market to be held in New York on May 15, 2012. Click Here to Register.

St. Kitts and Nevis Closes Exchange Offer and Concludes Additional Debt Restructuring Agreements. 

April 18, 2012
EMTA Special Seminar: Argentina and Its Pari Passu Clause

NML Capital and Aurelius Capital v. Argentina – Argentina BriefNML BriefAurelius BriefMontreaux Partners and Wilton Capital Amicus Brief.

April 16, 2012
SIFMA and Other Associations’ Comment Letter to the CFTC on the Proprietary Provisions of the Volcker Rule.

April 13, 2012
EMTA Special Seminar: Argentina and Its Pari Passu Clause (NYC) to be Held on April 18, 2012. Click Here to Register.

April 10, 2012
Calculations for Payments on Venezuela Oil Obligations Announced. 

April 9, 2012
EMTA Spring Forum in NYC to be Held on May 1, 2012. Click Here to Register.

April 5, 2012
NML Capital and Aurelius Capital v. Argentina - US Amicus Brief and Clearing House Amicus Brief.

April 3, 2012
Standard & Poor’s Upgrades Uruguay’s Long-Term Foreign Currency Sovereign Credit Rating from BB+ to BBB- (Investment Grade). 

April 2, 2012
Venezuela Oil Obligations Effective Record Date of March 30 and Payment Date of April 16.  Trades are "Ex-Dividend" on March 28.

March 30, 2012
EMTA Special Seminar: Greece and the Rule of Law

March 28, 2012
EM Ltd. and Aurelius Capital Partners v. Argentina.

March 21, 2012
Holiday Schedule for EM Bond Trades for Good Friday/Easter Monday Holidays. 

March 19, 2012
EMTA's First Quarter Bulletin is Now Available in our Bulletin Section.

March 15, 2012
Esteban Fernández Medrano, of GlobalSource Partners and MacroVision Consulting, S.A., to deliver keynote address at Fifth Annual EMTA Forum in Buenos Aires on April 19, 2012. Click Here to Register.

St. Kitts and Nevis Exchange Offer Results.

March 14, 2012
Murillo De Aragão, GlobalSource Partners and Arko Advice, Brazil, to Deliver Keynote Address at Fifth Annual EMTA Forum in São Paulo on April 23, 2012. Click Here to Register.

March 13, 2012
Fitch Upgrades Greece’s Long-Term Foreign Currency Issuer Default Rating  from RD to B-.

March 12, 2012
EMTA Special Seminar: Greece and the Rule of Law (NYC) to be Held on March 30, 2012. Click Here to Register.

March 9, 2012
ISDA EMEA Determinations Committee Has Determined Restructuring Credit Event Has Occurred With Respect to Greece Exchange Offer.

Greek Ministry of Finance PSI Launch.

March 8, 2012
Revised When-Issued Confirmation Forms for Greece Bonds and GDPs. 

Save the Date! EMTA Special Seminar: Greece and the Rule of Law (NYC) to be Held on March 30, 2012.

March 7, 2012
Creditors’ Committee Supports the St. Kitts and Nevis Debt Exchange Offer.

March 6, 2012
Predictions for Key Economic Variables, Slide from EMTA Winter Forum.

When-Issued Confirmation Forms for Greece Bonds and GDPs.

March 2, 2012
EMTA Announces Annual Emerging Markets Debt Trading Stood at US$6.506 Trillion.

Moody's Downgrades Greece's Foreign-Currency Bond Rating from Ca to C.

March 1, 2012
ISDA EMEA Determinations Committee Determines Credit Event Has Not Occurred with Respect to Greek Restructuring.

NML Capital v. Argentina (Order and Transcript).

Standard & Poor's Downgrades Its Long-Term Foreign Currency Sovereign Credit Rating on Belize from CCC+ to CCC-.

February 27, 2012
EMTA Forum in Dubai to be Held on March 27, 2012. Click Here to Register.

Standard & Poor’s Downgrades Greece’s Long-Term Sovereign Credit Rating from CC to SD (Select Default).

St. Kitts and Nevis Launches Debt Exchange Offer.

February 24, 2012
ICMA Letter Relating to Retroactive Legislation in the Greece Restructuring.

February 22, 2012
Fitch Downgrades Greece’s Long-Term Foreign Currency Issuer Default Rating from CCC to C.

February 21, 2012

Press Release of the Hellenic Republic On Terms of Private Sector Debt Exchange.

Eurogroup Statement on Greece Agreement.

Statement by IMF Managing Director Christine Lagarde on the Meeting of the Euro Group.

IIF Statement on Greek Debt Exchange.

Press Release of the Steering Committee of the Private Creditor-Investor Committee for Greece (PCIC).  

February 17, 2012
Fitch Upgrades Iceland’s Long-Term Foreign Currency Issuer Default Rating  from BB+ to BBB-.

February 16, 2012
Moody's Downgrades Belize's Government Bond Rating from B3 to Caa1.

February 14, 2012
CFTC Proposal With Comment Period Ending on April 16, 2012.

Moody's Downgrades Six European Sovereigns including Italy, Portugal, Slovakia, Slovenia and Spain.

February 13, 2012
Volcker Rule Proposal Draws Thousands of Comments: SIFMA, SIFMA AMGLSTASEC Website.
Other Industry Comments: Paul Volcker Letter, John Reed Letter.

February 10, 2012
EMTA Winter Forum in London to be Held on March 6, 2012. Click Here to Register.

Standard & Poor’s Downgrades Egypt’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to B.

February 9, 2012
EMTA Announces 4Q 2011 EM CDS Volume Stood at US$234 Billion. 

Update and Reminder to EMTA Members on Dodd-Frank Legislation (Volcker Rule).

February 8, 2012
Holiday Schedule for EM Bond Trades for US Presidents' Day Holiday. 

February 6, 2012
Standard & Poor’s Downgrades Belize’s Long-Term Foreign Currency Sovereign Credit Rating from B- to CCC+. 

Foreign Exchange Committee Releases 15th Annual Survey of North American FX Volumes. 

February 3, 2012
Flat Trading Summary. 

February 1, 2012
U.K.'s Osborne Lodges 'Volcker Rule' Complaint (may require Wall Street Journal subscription).

New Policy Library and Position Limits Feature on Center For Financial Stability Website.

EU Council Broadens Sanctions Against Iran - Cleary Gottlieb Memo.

January 31, 2012
Bank of Canada’s Carney Says Volcker Rule Might Damage Markets (may require Bloomberg subscription).

Volcker Rule Stirs Up Opposition Overseas (may require NY Times subscription).

January 27, 2012
EU Red-Flags 'Volcker' (may require Wall Street Journal subscription).

Venezuela Withdraws from ICSID (Sullivan & Cromwell Memo).

Fitch Downgrades the Long-Term Issuer Default Ratings of  Belgium, Cyprus, Ireland, Italy, Slovenia and Spain.

January 26, 2012
In Memoriam, Ruth Mazzoni, 1965-2012.

Venezuela Withdraws ICSID Membership. English / Spanish

The Sovereign Crisis: When Debt is No Longer Risk Free (Lawrence Goodman, Center for Financial Stability).

January 23, 2012
Ivory Coast Investor Meeting Presentation.

January 20, 2012
EMTA Special Seminar on the Offshore Renminbi (CNH) Market to be held in London on February 16, 2012. Click Here to Register.

January 19, 2012
The Volcker Rule - Restrictions on Proprietary Trading - Implications for the US Corporate Bond Market (Oliver Wyman Report).

January 18, 2012
Moody's Upgrades Indonesia's Foreign-Currency Sovereign Credit Rating from Ba1 to Baa3.

January 17, 2012
GFMA’s Global FX Division Warns How Proposed Transaction Tax Would Affect FX Markets.

January 16, 2012
Market Making Under the Proposed Volcker Rule (Darrell Duffie, Stanford University Study).

FT Article: Egypt Asks IMF for $3.2bn Standby Facility.

FT Article: S&P Downgrades Eurozone Bail-Out Fund, EFSF.

Standard & Poor’s Downgrades the European Financial Stability Fund’s Long-Term Sovereign Credit Rating from AAA to AA+.

January 14, 2012
UK Faces Volcker Rule Clash (may require Telegraph subscription).

January 13, 2012
Ivory Coast Meeting Invitation to Creditors.

Standard & Poor's Downgrades the Long-Term Ratings on 9 EU Sovereigns (including downgrade of France from AAA to AA+).

CFTC Issues Final Order Amending Effective Date for Swap Regulation.

January 12, 2012
Financial Stability Oversight Council Study and Recommendations on Prohibitions on Proprietary Trading & Certain Relationships with Hedge Funds & Private Equity Funds.

January 11, 2012
Japan and Canada Have Issued Warnings on the Adverse Effect that the Implementation of the Volcker Rule, As Currently Proposed, is Likely to Have on World Fixed Income Markets (may require Financial Times subscription). 

January 6, 2012
Fitch Downgrades Hungary’s Long-Term Foreign Currency Issuer Default Rating from BBB- to BB+.

January 4, 2012
Holiday Schedule for EM Bond Trades for Martin Luther King, Jr. Holiday. 

January 3, 2012
EMTA Corporate Bond Forum, Sponsored by ING, to be Held in London on January 24, 2012. Click Here to Register.

Office of the Comptroller of the Currency, Treasury, Federal Reserve Board, FDIC and SEC Extend Comment Period on Dodd-Frank Act to February 13.

January 2, 2012
President Obama Signs New US Sanctions Targeting Foreign Banks Dealing with Iran - Cleary Gottlieb Memo. 

December 23, 2011
Calculations for Payments on Uruguay VRR's Announced.

December 21, 2011
Approaching Deadline for Comments on the Volcker Rule under Dodd-Frank.

Moody's Downgrades Egypt's Government Bond Rating from B1 to B2.

Standard & Poor’s Downgrades Hungary’s Long-Term Sovereign Credit Rating from BBB- to BB+.

Moody's Downgrades Slovenia's Foreign-Currency Government Bond Rating from Aa3 to A1.

December 16, 2011
Moody's Downgrades Belgium's Foreign-Currency Government Bond Rating from Aa1 to Aa3.

December 15, 2011
EMTA Announces 3Q 2011 Debt Trading Stood at US$1.760 Trillion.

BM&F and BOVESPA Press Release on New Reference Rates.

Fitch Upgrades Indonesia's Long-Term Foreign Currency Issuer Default Rating from BB+ to BBB- (Investment Grade).

December 12, 2011
EMTA Letter Requesting Extension of Comment Period under Volcker Rule.

December 9, 2011
Statement by the Euro Area Heads of State or Government.

Europe’s Disastrous Summit (Felix Salmon).

December 8, 2011
EMTA Corporate Bond Forum, Sponsored by ING, to be Held in London on January 24, 2012. Invitations to be distributed shortly.

December 7, 2011
Holiday Schedule for EM Bond Trades for Christmas, Boxing Day and New Year's Holidays.

EMTA Special Presentation: The Vitro Effect: Troubling Development in Mexican Insolvency Law

  • Agenda 
  • Rigging the Game in Mexico: The Role of Intercompany Claims  (Alejandro Sainz, Cervantes y Sainz) 
  • Mexico’s Concurso Mercantil from an International Bondholder’s Perspective - Should There be a “Vitro Premium?” (Robert Rauch, Gramercy Advisors) 
  • How Did Recovery Ratings on Mexican Corporate Issuers Perform Through the Financial Crisis?   (Jose Coballasi, Standard & Poor’s) 
  • Mexico: Can it Have a Prosperous Future Without Effective Rule of Law?  (Claudio Loser, Senior Fellow, Inter-American Dialogue; President, Centennial Group Latin America; Former IMF Western Hemisphere Director (1994 – 2002))
  • Document containing links to the above presentations and other articles and cases of interest 
  • Download audio 
  • NML Capital v. Argentina. 

    Aurelius Capital Partners v. Argentina.

    Wilmington Trust v. Vitro. 

    December 1, 2011
    EMTA Annual Meeting Sell Side Panel - Market Views on Key Variables for 2012.

    November 30, 2011
    Trade Association Letter Requesting Extension of Comment Period under Volcker Rule. 

    Murillo de Aragão to Deliver Keynote at EMTA's Forum in Miami to be Held on January 17, 2012. Click Here to Register. 

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

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