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GC Asia
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China policy and markets round-up: Fiscal revenue returns to growth, Sweden bans Huawei, S&P expands to exchange bond market
In this round-up, China’s fiscal revenue growth turns positive in the third quarter, Sweden becomes the latest to ban Huawei Technologies from its 5G plan, and S&P Global Ratings’ onshore unit secures a licence to rate domestic bonds in the exchange market.
23 Oct 2020 -
Science-based targets could help banks wrestling with climate risk
UK banks and building societies are struggling with difficult aspects of incorporating climate change into their risk management, as demanded by the regulator, a PwC survey has found. The answer to some of their problems could be a non-risk initiative: science-based targets.
22 Oct 2020 -
Updated: HK regulator fines Goldman $350m for 1MDB failures
Hong Kong’s securities watchdog has fined Goldman Sachs $350m for regulatory failures in its work on bonds issued by the scandal-hit Malaysian state investment fund 1MDB, part of a multi-billion-dollar settlement with global regulators.
22 Oct 2020 -
ESM’s pandemic credit lines ‘will be used’ says CFO
The European Stability Mechanism’s Pandemic Crisis Support credit lines will eventually be drawn on by euro area member states, according to the institution’s chief financial officer, Kalin Anev Janse.
22 Oct 2020 -
CCP Sofr switch gives needed boost to Libor move
The transition from Ibor benchmarks passed a major milestone this week, when LCH joined CME in switching its discounting rate for dollar referencing derivatives from the Fed Funds Rate to Sofr.
21 Oct 2020 -
China streamlines credit ABS registration
China has announced a new registration system for credit asset-backed securitization (ABS), cutting the time it will take bankers and their clients to bring new deals to the market.
20 Oct 2020 -
EU's green bond issuance risks 'falling short'
The EU's plan to issue large volumes of green bonds as part of its recovery plan will shape that market, but it also risks undermining it due to a discrepancy as to what what counts as green, according to two experts.
19 Oct 2020 -
China revamps 25-year-old commercial bank law
China has unveiled major revisions to its law governing commercial banks, with the changes set to help strengthen corporate governance and the risk disposal mechanism of domestic lenders.
19 Oct 2020 -
The week in review: China’s economic recovery continues, Beijing rolls out export control law, revamps commercial bank law
In this round-up, China's economic rebound strengthens in the third quarter, the country’s legislature passes a new law on export control to protect sensitive technology, and the law governing commercial banks faces major revisions.
19 Oct 2020 -
HSBC financed climate laggards weeks before net zero target
HSBC provided $1.8bn of financing to high carbon companies including Kepco, which is developing new coal plants, in just five deals in the past four months, as it prepared to announce its “net zero ambition” on October 9, an NGO has alleged.
16 Oct 2020
