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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 Bank of England’s Fair and Effective Markets Review has appointed its market practitioner committee, taking in senior investment bank management from HSBC, Nomura, Barclays, BNP Paribas, Goldman, RBS, JP Morgan, Deutsche Bank and Morgan Stanley.
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The State Oil Fund of the Republic of Azerbaijan (Sofaz) has applied to the People’s Bank of China (PBoC) for indirect renminbi investment in China’s onshore market to diversify its current investment portfolio, Israfil Mammadov, deputy CEO of Sofaz, has told GlobalRMB. -
The Australia Securities Exchange (ASX) has launched an RMB settlement service in collaboration with Bank of China (BoC), and is aiming to promote the use of RMB for trade — an area that a recent study identified as one in which Australian corporates have been lagging behind their peers elsewhere.
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Overall credit default swaps notional that was reported to swap data repositories last week dropped by 30% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rate derivatives trading that was reported, however, climbed by 19%.
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Implementation of the liquidity coverage ratio (LCR) in Europe is set to be delayed by 10 months according to a leak last week of a draft European Commission document. The treatment of ABS in the LCR, seen by the industry as unfavourable compared to covered bonds, was not changed in the leaked draft, but the delay could provide time to hammer out the details of more equitable regulatory treatment, said bankers on Monday.
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The launch of RMB-denominated gold trading will strengthen China’s already large role in the precious metal market, but a drop in Chinese demand and an excess of red tape risk making the move a missed opportunity.
