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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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Euribor is likely to keep its status as the main unsecured reference rate for euro currency markets but will be heavily reformed, taking in a wider range of banks and transaction-based short term lending from a wider range of instruments, according to a report from the Financial Stability Board.
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Sharon Bowles, who chaired the ECON committee of the European Parliament from 2009 to 2014, and was instrumental in all of the recent European Union’s financial market and banking reforms, testified to the UK House of Lords on Tuesday, exposing the inner workings of the financial regulatory agenda. -
The Reserve Bank of Australia (RBA) is close to signing a memorandum of understanding with China's central bank for the appointment of an official RMB clearing bank in the country.
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Islamic bankers and Gulf investors have welcomed the Saudi Arabian financial regulator’s announcement this week that its stock market will be opened to international investors. But while some are more bullish than others in thinking this could happen quickly for secondary trading, extending access to primary markets and other riyal-denominated asset classes such as bonds and sukuk looks likely to be a longer term project.
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Overall interest rate trading that was reported to swap data repositories last week dropped by 15% from the previous week, according to data from the International Swaps and Derivatives Association. Overall credit default swaps notional that was reported, however, climbed by 2%.
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Scott O’Malia, Republican commissioner at the Commodity Futures Trading Commission in Washington DC, has resigned after four and half years, effective August 8.
