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Highly anticipated report did not mention future role of AT1 capital
Surprising alignment on stablecoins and strong support for tokenised assets, but details are sparse
Using AI to facilitate credit decisions poses regulatory problems
Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
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The International Swaps and Derivatives Association’s Americas Credit Derivatives Determinations Committee has resolved that a failure to pay credit event occurred in respect to Argentina. -
Deutsche Bank has executed the first series of renminbi option trades for Mengniu Dairy, as well as other Chinese corporates based onshore, under new regulation from China’s State Administration of Foreign Exchange, which became effective today.
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In this round-up, quarterly RMB-denominated cross-border trade with China fell 2%, RMB deposits in Hong Kong also contracted slightly, while Hong Kong RMB remittances jumped nearly 20%.
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China’s State Administration of Foreign Exchange (Safe) handed out Rmb7.3bn ($1.2bn) of quotas to seven licensed Renminbi Qualified Foreign Institutional Investor (RQFII) firms this month, with one getting its first ever quota.
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The Financial Conduct Authority’s review into “best execution” founds that most firms are not doing enough to meet the regulator’s standards. It also highlights continued payment for order flow at some firms, which contravenes its guidelines.
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The UK has laid out a final set of rules for clawing back bonuses, increasing the clawback period to seven years, and is consulting on even tougher rules designed to hold bank management personally accountable — dubbed “Fred Goodwin’s law” by one market commentator, after the disgraced former CEO of RBS.
