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GC Asia
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China policy round-up: March parliamentary meetings face delay, premier Li warns against Covid-19 impact on economy, US applies restrictions on Chinese media
In this round-up, China is set for an unprecedented postponement of its March “Two Session” meetings this year, premier Li Keqiang cautioned against the potential economic fallout from the novel coronavirus outbreak, and the US designated five Chinese media outlets as foreign missions.
21 Feb 2020 -
Swaptions at risk in €STR transition, warns ECB working group
The European Central Bank’s private sector working group on euro risk-free rates has recommended market participants replace Eonia products with €STR-referencing derivatives “as soon as possible” and flagged a threat to swaptions in the transition.
20 Feb 2020 -
Battle over high stakes position limits coming as EC reopens commodity derivs question
A politically charged fight over position limits on commodity derivatives appears set to kick off after the European Commission opened a consultation on the second Markets in Financial Instruments Directive (MiFID II) this week.
20 Feb 2020 -
Luminor mandates first Baltic covered bond
Luminor Bank has mandated leads for the first covered bond from the Baltic region.
20 Feb 2020 -
Companies line up for follow-ons as CSRC loosens rules
The Chinese regulator’s decision to loosen rules around follow-on offerings in the domestic market has brought a resounding vote of approval from corporations. In just four days, 46 companies have set out plans to tap the equity capital market.
19 Feb 2020 -
Hiding the impact of IFRS 16 is of no benefit to anyone
Some of the more creative souls in corporate debt markets are trying to find ways to gloss over the impact of the IFRS 16 accounting standard. Brought in a year ago, it has driven up some firms’ leverage ratios by forcing them to report leases on their balance sheets, even though their businesses have not changed. But it would be a bad idea to act as if the rules had never changed.
18 Feb 2020 -
Transition periods are key in minimising MREL impact, says EBA
Regulators are helping those banks most at risk of failing to meet their minimum requirements for own funds and eligible liabilities (MREL) by giving them extra time to prepare, a report from the European Banking Authority said this week.
18 Feb 2020 -
European Commission opens MiFID II consultation
The European Commission has opened a public consultation on MiFIR/MiFID II, as it takes stock of two years of the sweeping regulations.
17 Feb 2020 -
The week in review: China may lose A+ rating with S&P, HK warns of ‘tsunami-like’ economic impact, CSRC publishes new stock issuance rules
In this round-up, China could face a downgrade to its sovereign rating, Hong Kong’s finance secretary expects a “tsunami-like” impact on the economy from the Covid-19 outbreak, and the Chinese securities regulator relaxed rules on stock issuance.
17 Feb 2020 -
China policy and market round-up: Covid-19 cases rise, top Hubei officials sacked, MasterCard gets nod for China entry
In this round-up, the number of novel coronavirus infections increased by 14,840 in a single day after the Hubei province changed its diagnosis methodology, China has put the former mayor of Shanghai in charge of Hubei amid the prolonged outbreak, and regulators have given the green light to MasterCard’s long-awaited entry to the Mainland market.
14 Feb 2020
