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Proposed 10% limit on interest would strip out most of securitizations' excess spread
Implementation necessary after wide-ranging changes last year
It is not enough to just undo some of the European Commission’s more controversial proposals
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
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EU lenders will have to give more detail about their use of loan repayment holidays and public guarantee schemes during the coronavirus pandemic, according to new reporting guidelines published by the European Banking Authority (EBA) this week. -
China has opened an asset-backed commercial paper market, announcing new regulations and three trial deals that will be priced by the end of the week.
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The US Office of the Comptroller of the Currency (OCC) is urging local officials to ease their Covid-19 lockdown measures, warning that some banks are now suffering delinquency rates in the mid-double digits on their small business loan books.
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The People’s Bank of China said it will buy Rmb400bn ($56bn) of inclusive loans given by banks to small and micro enterprises. The move can spur the country’s lenders to boost new lending to small businesses by as much as Rmb1tr.
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The Financial Conduct Authority expects that a court case determining whether UK insurers have to pay out on business interruption claims as a result of Covid-19 will be settled by the end of July.
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In this round-up, the US says it will strip Hong Kong of its special trade status after Beijing passed the national security law on the special administrative region (SAR), and China’s securities houses will be able to raise subordinated debt in the public markets.
