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GC Asia
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China policy round-up: WTO says US China tariffs violate trade rules, ByteDance teams up with Oracle, HK fights ‘made in China’ order
In this round-up, the World Trade Organization rules that additional tariffs imposed by the Trump administration on some Chinese goods in 2018 breached international trade regulations, ByteDance makes progress on the sale of TikTok in the US, and Hong Kong asks Washington to drop its demand for the city’s exports to be labelled as ‘made in China’.
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Funding from Congress can replace GSE refi fee, Calabria says
The adverse market refinance fee came under fire in a hearing this week, during which House policy makers characterised it as last-minute and poorly explained. Federal Housing Finance Agency (FHFA) Director Mark Calabria emphasized that the fee is necessary, and the only alternative would be to receive funding from Congress before the December implementation date.
17 Sep 2020 -
DTO issue rumbles on as ISDA pushes for equivalence
As political tensions rise over the UK-EU trade negotiations, concerns in the derivatives market are growing as the lack of equivalence between trading venues causes jitters once again.
17 Sep 2020 -
Taxonomy opens up host of questions
Market participants are still speculating about exactly how the EU's Taxonomy of Sustainable Economic Activities will shape sustainable finance.
17 Sep 2020 -
Swedish supervisor extends risk flooring to preserve bank capital
Sweden's financial supervisor has extended its application of a risk weight floor on domestic mortgages, a measure that will help to protect senior debt by forcing banks to run with higher capital positions.
17 Sep 2020 -
ECB gives green light to lev ratio relief
The European Central Bank said on Thursday that the economy was in a poor enough state to justify letting banks take advantage of a recent agreement on leverage ratio relief.
17 Sep 2020 -
EU paves way for national approval of recovery plan
The European Parliament voted in favour of an expansion of the EU’s own resources on Wednesday. The result brings the EU’s €750bn recovery plan one step closer to reality.
17 Sep 2020 -
China reforms NPL ABS as bad loans rise
The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.
17 Sep 2020 -
Goodwill towards bank M&A has misrepresented badwill
An accounting practice called badwill is central to debates about European bank M&A — but it probably should not be, as it leads to some confusing rhetoric.
16 Sep 2020 -
UK can improve on current EU securitization regulation after Brexit, say ABS specialists
The UK has an opportunity to change key aspects of the Securitization Regulation once it leaves the European Union to the benefit of investors and issuers, said speakers at IMN’s Global ABS 2020 virtual conference on Tuesday.
15 Sep 2020
