Capital / Liquidity

Sri Lanka Central Bank Bans Dividends, Share Buybacks at Banks

15/05/2020

Foreign banks are prohibited from repatriating profits. LCR and NSFR requirements have been reduced to 90%. Banks are told to refrain from non-essential expenditures.

Market Infrastructure

China Issues Guidelines on Greater Bay Opening Up

15/05/2020

The PBOC will pilot cross-border PE and VC investments and explore the establishment of a futures exchange in Guangzhou and an international commercial bank to serve Greater Bay Area.

Market Infrastructure

China Admits Fitch Subsidiary into Onshore Credit Rating Market

15/05/2020

China had committed to removing restrictions on US credit rating agencies entering its markets under the trade agreement with the US in January.

ESG / Sustainability

Hong Kong Launches New Certification Scheme for ESG Funds

14/05/2020

The new green finance certification scheme for ESG funds is an extension of the HKQAA’s certification service for green funds, launched in September 2019.

Securities / Derivatives

ASIC Withdraws Trading Limits Imposed on Equity Market Participants

14/05/2020

Trading restrictions imposed in March due to an abnormally large increase in trades executed have been revoked following processing enhancements by market operators.

Bangladesh Bank Eases Rules on Foreign Firms Borrowing Overseas

14/05/2020

Under existing rules, foreign companies can only borrow from their parent companies during their first three years of their operation in Bangladesh.

Securities / Derivatives

New Zealand to Nearly Double FMA Funding Over Three Years

14/05/2020

The FMA’s funding is being increased over three years to minimise the burden on the financial sector entities who pay levies, where most of the new funding will come from.

Capital / Liquidity

India Makes Additional Funding Available to NBFCs

14/05/2020

A $4bn special liquidity scheme will be provided for NBFCs, and the partial credit guarantee scheme already in force is being expanded to also cover non-investment grade NBFC debt.

Enforcement

ASIC Secures Remediation for Junk Insurance Sales by Banks

14/05/2020

ASIC has secured A$160mn in remediation for consumers and plans to take enforcement action against lenders who sold junk consumer credit insurance products.