The tax exemption of interest revenues and the high level of professional secrecy were the unique selling points of Luxembourg for the German banking community. From the 1960s to the 1990s, they were the main causes for the rise of Luxembourg to one of the biggest euromarket places. The...

The purpose of this paper is to examine the impact of a 1993 relaxation of the restrictions governing the underwriting operations of Japanese banks on bond issues in the Euro–yen and Japanese corporate bond markets. Evidence is presented to suggest that the relaxation of the restrictions...