China regulator could allow CDS for bank capital relief

The China Banking Regulatory Commission has issued confidential draft rules on credit derivatives trading — and invited banks to submit feedback, according to EuroWeek Asia’s sister publication Asiamoney. The regulator said it was considering loosening bank capital requirements for those institutions that buy CDS to protect against losses.

  • 26 May 2011

The draft, released in the last two weeks, moots the trading of credit default swaps (CDS) in a way that is more consistent with international practice than the current pilot scheme, said people who have the read the document.

The CBRC has also indicated it will grant capital relief ...

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Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 17,834.38 72 10.56%
2 Citi 16,648.84 65 9.86%
3 HSBC 14,502.17 79 8.59%
4 Deutsche Bank 10,659.15 37 6.31%
5 Standard Chartered Bank 8,423.03 47 4.99%

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2 JPMorgan 4,222.60 16 12.06%
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4 Deutsche Bank 2,957.20 4 8.45%
5 Morgan Stanley 2,629.01 9 7.51%

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3 HSBC 4,539.92 22 8.34%
4 Deutsche Bank 3,547.08 9 6.52%
5 Standard Chartered Bank 3,538.08 13 6.50%

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3 Raiffeisen Bank International AG 206.29 2 7.01%
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3 Citi 206.29 2 7.01%

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1 AXIS Bank 1,318.15 23 14.27%
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