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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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Malaysia is on its way to becoming the second ASEAN country to be designated as an offshore renminbi hub. The People's Bank of China (PBoC) and Bank Negara Malaysia (BNM) signed a memorandum of understanding (MoU) on RMB clearing arrangements in Malaysia on November 10. Singapore became the first RMB hub in the region in February 2013. -
Buyside firms are concerned that some swap execution facilities (SEFs) may make certain derivatives instruments made-available-to-trade (MAT), which competing SEFs or clearing houses will not have the ability to support, therefore negatively impacting the portfolios that they manage.
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The Financial Stability Board, which is chaired by Bank of England Governor, Mark Carney, has offered its thoughts on the final round of new bank capital requirements — Total Loss Absorbing Capacity, or TLAC. This capital measure includes gone-concern capital, which absorbs losses once a bank has collapsed, protecting depositors and taxpayers, as well as existing going concern capital such as equity and additional tier one.
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Fresh from designating the first offshore renminbi hub in the Middle East on November 4, the People’s Bank of China (PBoC) announced just a few days later a currency swap agreement with Canada and the appointment of an RMB clearing bank for the country.
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Bank of China (BoC) Taiwan Branch, the official renminbi clearing bank for Taiwan, has been approved to participate in China’s interbank lending market and has agreed to help Taiwan banks’ mainland China branches and subsidiaries with interbank RMB funding, the central bank of Taiwan said this week.
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Standard Chartered (StanChart) has set up a pan-China RMB cross-border sweeping scheme for a number of its clients, taking advantage of the latest round of reforms announced by the People’s Bank of China (PBoC) that expanded on liberalisations first tested in the Shanghai pilot free trade zone (FTZ).
