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  • Financial Conduct Authority chief Andrew Bailey on Thursday set out the options for forward-looking term rates to replace Libor, a family of benchmarks that he described as “vulnerable to misconduct”.
  • Goldman nabs senior BAML bankers — Credit Suisse fined $77m — StanChart names Singapore CEO — Ceinex makes progress with D-shares — Ambit hires ECM head
  • In a sign of warming relations between China and Germany, regulators in China gave Deutsche Bank the licence to underwrite corporate bonds in the interbank market. But the bank has its sights set on a bigger prize — the right to joint lead underwrite Panda bonds for corporate issuers.
  • Stock Connect and Bond Connect are international investors’ favourite channels to tap the onshore capital markets thanks to their simplicity compared with other access programmes, according to a survey by Standard Chartered.
  • In a damning assessment, a European business lobby says China’s foreign ownership reform in the financial sector has done little to help foreign firms compete in the onshore market, and calls on Beijing to grant international institutions more freedom to engage in cross-border services.
  • Fitch upgraded the rating of Mongolia’s long term foreign currency debt to B from B- on Monday, causing the country’s outstanding dollar paper to tighten in the secondary market.