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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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Banks will only be allowed to rehypothecate collateral set aside for initial margin once, unless collateral is collected as variation margin, according to new guidelines for non-centrally cleared derivatives from the Basel Committee on Banking Supervision. Firms must also calculate initial margin on a gross basis, rather than a net basis, according to the BCBS.
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The Securities and Markets Stakeholder Group of the European Securities and Markets Authority has called on the regulator to improve the timing of its engagement with the financial services industry when developing level two and level three measures.
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South Korean corporations not already licensed by the Financial Services Commission are now allowed to issue certain types of non-principal protected structured products, following the implementation of a recent amendment to the country’s main financial regulation.
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Bank Negara, Malaysia’s central bank, has rejected BIMB Holdings’ sukuk proposal, as part of a financing effort to raise $884m (MR 2.9bn) to gain control of Bank Islam, the country’s oldest and largest Shariah-compliant bank.
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A final qualified residential mortgage rule is likely to feature some down payment minimum and loan-to-value ratio limit, despite federal regulators removing those requirements in a revised proposal issued this week, market participants told SI.
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Tullett Prebon has filed an application to the U.S. Commodity Futures Trading Commission to become a swap execution facility under Dodd-Frank, three weeks after the final SEF rules became effective.