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GC Asia
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IMF ramps up focus on climate, launches innovative database
Climate change will become much more prevalent in the International Monetary Fund’s work this year, including its assessments of countries’ financial stability, after sustained complaints that it has not paid enough attention to global warming. Ways to link debt relief to climate action will take longer to implement.
09 Apr 2021 -
China markets round-up: D-Sibs face higher capital requirements, foreign holding of interbank bonds drops, JD Digits to set up financial holdco
In this round-up, Beijing plans to beef up capital requirements for domestic systemically important banks, foreign investors reduce their investment in domestic Chinese bonds in March, and JD.com’s technology unit is reportedly planning to set up a financial holding company.
09 Apr 2021 -
EU reboots NPL rules as bad debt looms
Long-awaited amendments to European securitization law come into force on Friday, which should make non-performing loans securitization easier at a time when bad debt levels are set to rocket. Tom Brown reports.
08 Apr 2021 -
German fintech Auxmoney secures €250m from Citi, Chenavari
German fintech lender Auxmoney has nabbed another round of funding from Citigroup and Chenavari Investment Managers, receiving €250m in total.
08 Apr 2021 -
Arg, Mex seek support for 'forgotten' middle-income countries
Mexico’s deputy finance minister Gabriel Yorio told GlobalCapital on Wednesday that a block of Latin American countries was forming to ensure that the plight of middle-income economies was not forgotten as the world looks for ways to alleviate financial pressures on developing countries.
08 Apr 2021 -
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Trump exit unleashes Financial Stability Board to act on climate
The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.
07 Apr 2021 -
SG ends ‘refocusing programme’ with sale of Lyxor to Amundi
Société Générale said on Wednesday that it was looking to sell its asset management arm Lyxor to French investor Amundi. The transaction will wrap up a three year restructuring programme, which has added up to 90bp to the bank’s capital ratios.
07 Apr 2021 -
Paragon jumps ahead on phase-out of non-green BTL mortgages
The UK government is planning to tighten the energy efficiency ratings required for buy-to-let mortgages, phasing in the changes through to 2028, but some mortgage lenders are implementing the rules early. The result could mean more collateral for green structured finance transactions as well as a lower risk of default.
06 Apr 2021 -
Credit Suisse’s heads of IB and risk fall on swords after Archegos implosion
Credit Suisse has begun an overhaul of its leadership following the collapse of Archegos Capital, as well as losses from the bank’s ties to Greensill Capital. The Swiss lender has cut dividend payments by two thirds, and slashed bonuses for senior executives.
06 Apr 2021 -
Credit Suisse rallies despite bigger hit on Archegos
Investors were relieved when Credit Suisse finally gave details this week about the damage it has suffered from its Archegos exposures. The losses were higher than expected, but they were not large enough to burn completely through the Swiss bank’s capital cushion.
06 Apr 2021
