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GC Asia
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China policy round-up: Pompeo, Trump threaten Beijing over HK securities law, USD/CNH surges
In this round-up, tensions between the US and China rise dramatically after China says it would impose a national security law on Hong Kong SAR, and the USD/CNH exchange rate reacts strongly to the latest developments.
08.15 AM -
FCA warns on conduct risk for housebound capital markets
The UK’s Financial Conduct Authority has reminded issuers and bankers of rules related to inside information and wall-crossings, as it seeks to make sure standards are upheld in busy markets when participants are working from home.
28 May 2020 -
China lowers bar for insurers to buy banks’ perps
The China Banking and Insurance Regulatory Commission (CBIRC) has scrapped a number of restrictions hampering the country's insurers from investing in perpetual bonds sold by smaller banks.
28 May 2020 -
Crisis Talk — with Mediobanca’s funding heads, Carlo Masini and Paolo Labbozzetta
Mediobanca frontloaded regulatory issuance and completed its funding plan before the coronavirus crisis struck. While its corporate loan book has increased, deposit inflows have also improved which means the bank is in no hurry to return to the public market according to head of group treasury, Carlo Masini, and head of funding, Paolo Labbozzetta.
27 May 2020 -
European Commission to handle €100bn of SURE borrowing
The European Commission has ratified the €100bn Support to mitigate Unemployment Risks in an Emergency (SURE) fund and the European Union debt office has confirmed that it will be responsible for financing loans made under the new programme.
26 May 2020 -
EBA warns of bad loan build-up amid coronavirus
The European Banking Authority warned this week that lenders could struggle with asset quality problems for years as a result of Covid-19, publishing the findings in its first sensitivity analysis of the EU banking sector.
26 May 2020 -
ESM pandemic lines ‘appear insufficient’ says Cyprus debt office
The head of the Cyprus public debt management office believes that the amount Cyprus can claim under the ESM pandemic support facility “is insufficient to justify any such action”.
26 May 2020 -
The week in review: Xi explains GDP growth rationale, regulators offer details on stimulus package, China’s foreign minister issues warning to the US
In this round-up, China’s top government officials, including president Xi Jinping, discuss key economic targets and a fiscal stimulus package, and foreign minister Wang Yi warns the US against a ‘new cold war’.
25 May 2020 -
Cyprus likely first up to tap ESM pandemic crisis support line
Cyprus may become the first country to access the ESM’s pandemic support line, borrowing 2% of its GDP for up to 10 years.
22 May 2020 -
BoE updates IFRS 9 guidance as UK extends payment holidays
The Bank of England has reminded UK lenders to apply ‘sound risk management practices’ in the capital treatment of their mortgages amid Covid-19, after the Financial Conduct Authority extended its payment holiday scheme by another three months.
22 May 2020
