Recent changes to SEC procedures regarding the amount of documentation required from foreign borrowers might also have delayed the process of issuing a bond into the U.S. market, a situation China wanted to avoid.

CENTERFORSECURITYPOLICY: Center For Security Policy

But we also need to take a look at the degree to which disclosure, which is what the SEC is supposed to be all about, by foreign borrowers and foreign users of our capital markets does not measure up to disclosure by our own domestic companies.

CENTERFORSECURITYPOLICY: China cashes in

Borrowers with foreign-currency debts find them much more expensive to repay.

ECONOMIST: Banking in Malaysia: Next in line? | The

This was novel stuff: it implied that the government would allow foreign takeovers and would countenance lending based on borrowers' commercial rather than political credentials.

ECONOMIST: Who thought reform would be easy?

Wall Street players would be wise to implement immediately a new national security layer of due diligence prior to agreeing to manage Russian and other foreign bond offerings to ensure that the true identity and activities of the borrowers are understood and communicated accurately in prospectuses.

CENTERFORSECURITYPOLICY: Center For Security Policy

The target was designed to keep big borrowers like Brazil from defaulting on their debt service by budgeting enough money to cover bond interest to foreign investors.

FORBES: Brazil On Target for Primary Budget Surplus