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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 delayed Shanghai-Hong Kong Stock Connect programme, when it finally launches, will be a milestone development for the Chinese A share market and will offer new opportunities to yield-starved investors from Europe and Japan, says French asset manager Amundi.
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The sixth offshore RMB clearing bank appointment of the year was unveiled on Tuesday, when the People’s Bank of China (PBoC) announced that it had picked Industrial and Commercial Bank of China (ICBC) Doha Branch as the renminbi clearing bank for Qatar. The move is the first such appointment in the Middle East and follows similar announcements this year in London, Frankfurt, Seoul, Paris and Luxembourg.
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France's landmark RMB clearing house could start operations as early as the start of 2015, according to Europlace CEO Arnaud de Bresson. The structure is set to offer strong competition to Frankfurt and London in their ambitions to become Europe’s principal renminbi business hub, he said.
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Seven banks have been designated as Primary Liquidity Providers (PLPs) for the offshore renminbi market in Hong Kong by the Hong Kong Monetary Authority (HKMA), the regulator said on November 3. The designation will allow the PLPs access to a dedicated repo facility of Rmb2bn ($327m) from the HKMA, to facilitate more efficient liquidity management and promote Hong Kong as a global RMB hub.
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Overall credit default swap notional that was reported to swap data repositories last week decreased by 21% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rate derivatives trading that was reported, also saw a decrease of 17% from the previous week.
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The Bank of England's Financial Policy Committee released its updated guidance on leverage ratio requirements on Friday afternoon. The new ratios look positive for the UK's largest lenders, being considerably less demanding than the worst case scenarios and with all but one of the country's global banks already meeting their requirements.