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The ratings review finished with both upgrades and downgrades linked to senior bonds now being subordinated to regular deposits
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Key points of contention include the investor sanctions regime and the definition of 'resilience'
European and other regulators are working on reforms to make covered bond funding more efficient
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The People’s Bank of China (PBoC) is to allow offshore commercial financial institutions to issue RMB-denominated bonds onshore in a bid to expand the Panda bond market, two sources have told GlobalCapital Asia's sister publication GlobalRMB. It may even permit proceeds to be moved offshore.
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The People’s Bank of China (PBoC) on July 14 increased the access that foreign central banks, supranationals and sovereign wealth funds have to China’s interbank market, in a move that has been seen as a big step in the promotion of RMB internationalisation.
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Paris-based financial institutions, together with the local renminbi clearing bank, Bank of China Paris branch (BoC Paris), have launched a local CNH indicative rate to help drive SME demand for the currency, GlobalRMB has learned. The pricing arrangement, which is not yet a real benchmark, is aiming to create a more liquid CNH market in the Paris financial hub.
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Banque de France (BdF) is working with the financial sector to ready the market for the China International Payment System (CIPS) launch later this year, and has told GlobalRMB that the progress of the RMB means that inclusion in the IMF's SDR basket is simply a matter of "when and how".
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Hong Kong Treasury Markets Association (TMA) launched on Monday a set of RMB bond indicative quotes aiming at increasing the price transparency for RMB-denominated institutional bonds issued in Hong Kong by the Ministry of Finance (MoF) of China.
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UK banks will find it harder to game leverage ratios as regulators plan to introduce stricter disclosure rules than those in Europe.