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Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
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Rabobank has said the German response to total loss-absorbing capacity (TLAC) places senior unsecured debt at risk, and advised against its adoption as a Europe wide solution. -
In this round-up, the visit to China by UK chancellor George Osborne generates raft of new announcements including plans for Shanghai-London Stock Connect, landmark bond issues, an extension to the RMB-GBP swap line and many, many more; PBoC relaxes requirements for cash pooling scheme.
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The People’s Bank of China (PBoC) has issued a set of rules for the renminbi Cross-border Interbank Payment System (CIPS) to the first batch of 19 participating banks. According to a copy of the document that GlobalRMB has obtained, the central bank released the rules on September 11 and they are to be applied imminently.
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China’s Ministry of Finance is gearing up to issue three month government bonds every week starting from next month as part of its efforts to get the renminbi into IMF's Special Drawing rights (SDR) basket, according to several sources close to the matter.
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London will continue to be the largest western RMB hub thank to the city’s sophisticated financial services and the close relationships between the UK and China, argued Alderman Alan Yarrow, the Lord of Mayor of the City on London on September 18 in Hong Kong.
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The People’s Bank of China (PBoC) said on Friday that it has appointed the local branch of Industrial and Commercial Bank of China as the renminbi clearing bank for Argentina. The country becomes the second official RMB hub in Latin America, following the footsteps of Chile.
