Securities / Derivatives

Singapore Banks Ready to Trade SORA Derivatives

29/06/2020

The ABS and SC-STS say “significant progress” has been made in key technical work to support Singapore’s transition from SOR to SORA.

Big Picture

FSB Evaluates Efficacy of Too-big-to-fail Reforms

29/06/2020

The evaluation found that the TBTF reforms have made indeed banks more resilient and resolvable, but barriers to bank resolvability still need to be addressed.

Capital / Liquidity

US Banks See Continued Dividend, Buyback Restrictions

29/06/2020

The Fed’s stress tests found that roughly a quarter of the US big banks would approach the 4.5% minimum CET1 capital requirement in a worst-case scenario, a W-shaped recovery.

Capital / Liquidity

India Brings Cooperative Banks Under RBI Oversight

29/06/2020

Under the Banking Regulation Act amendments, cooperative banks can also undertake merger and restructuring activities more easily and access to fundraising channels.

Securities / Derivatives

SEBI Allows Exchanges to Penalise Excessive Algo Orders

29/06/2020

On the third instance of the order-to-trade ratio exceeding 2000, trading members will be restricted from placing any orders for the first 15 minutes on the next trading day.

Capital / Liquidity

KAMCO Starts Buying Overdue Retail Loans from FIs

29/06/2020

Korean lenders may sell non-collateralised delinquent personal debt to KAMCO, which in turn will take over the debt and help debtors restructure.

Enforcement

ABA Temporarily Amends Banking Code in Light of Covid-19

29/06/2020

The changes related to the timelines for customer communication outlined in the Code, and to banks’ obligations when lending to small business customers.

Enforcement

Luckin Coffee Abandons Plans to Appeal Nasdaq Delisting

29/06/2020

A hearing with Nasdaq Hearings Panel was scheduled for Thursday but Luckin withdrew its request a day before.

Securities / Derivatives

SGX RegCo Publishes Best Practices Guide For Singapore Lawyers

29/06/2020

The Guide offers clarity to Singapore lawyers on regulatory submissions on behalf of listed companies, establishing a baseline standard for their conduct.