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Highly anticipated report did not mention future role of AT1 capital
Surprising alignment on stablecoins and strong support for tokenised assets, but details are sparse
Using AI to facilitate credit decisions poses regulatory problems
Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
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The Basel Committee has proposed scrapping internal models for large corporate and bank exposures – which could push big borrowers away from the loan market and into bonds. But the Committee kept quiet about its plans for a crucial ratio which will limit the total benefit banks get from internal models. -
Concerns about further delays to the finalisation of the Markets in Financial Instruments Directive II were raised this week, after communications between the European Commission and the European Securities Markets Authority (ESMA) appeared to have become strained.
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The MEP leading the European Parliament’s Markets in Financial Instruments Directive II discussions told GlobalCapital that he has “duly noted” that the Commission’s changes to regulatory technical standards did not include all demands made by Parliament.
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In the past week, two Chinese officials have publically acknowledged the possibility of a tax on foreign exchange (FX) transaction to curb capital outflows. Although details on the initiative still scant, views are diverging about whether it is a good measure against foreign speculators or will end up back firing.
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The European Commission’s requested changes to regulatory technical standards (RTS) proposed by the European Securities Markets Authority are late and not detailed enough, the regulator's chief said in a letter to a Commission committee.
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In this round-up, China's cross-border trade settlement fell to a near three-year low in February, CME reports record levels of trading in its offshore RMB futures, RMB spot trading fell but swap trading surged on the Moscow Exchange, Singapore renewed its currency swap line, and Deutsche Bank sets up a the first interbank host-to host platform by a foreign bank in China. Plus, a recap of GlobalRMB's top stories this week.
