Capital market deals by Irish-based issuers exceeded €100 billion in 2003 as a wide variety of funding vehicles were used by both corporate and bank issuers, with the US private placement market and corporate bonds featuring amongst the thirteen sectors surveyed in the first Irish Capital Markets Directory. Corporate bonds came back into favour in 2003, with six issues totalling approximately €2.8 billion from a number of the country’s largest companies. On the banking side two new markets emerged - the Irish covered bond, which saw issuance top €10 billion during last year, - and certificates of deposit, which for the first time Irish banks were able to issue to Irish investors.