RBI to Provide Liquidity in Forex Market as Rupee Crashes

13/03/2020

The RBI will offer USD/INR sell/buy swaps to bolster FX  market liquidity, as foreign investors withdraw from India amid growing concerns over Covid-19’s economic impact.

Australia Announces A$17.6b Economic Stimulus Package

13/03/2020

Treasurer Josh Frydenberg held talks with banks ahead of the announcement urging them to do their part to help businesses make the most of the new measures.

Securities / Derivatives

Thai Bourse Announces Relief Package, Circuit Breaker Triggers

12/03/2020

The 30-minute trading halt came shortly after the SET announced a Covid-19 relief package, which included 500 million baht in fee reductions for market participants.

Market Infrastructure

Eurex Approved to Offer Clearing Services in Japan

12/03/2020

The FSA licence will allow Japanese financial institutions to combine their listed and OTC euro yield curve businesses in one single place, Eurex says.

Capital / Liquidity

RBI Finalises Yes Bank Rescue Plan, Including Funding Lines

12/03/2020

State Bank of India and other banks will invest about 500 billion rupees in Yes Bank shares and CDs. AT1 bondholders will recover about 20% of their investment.

Securities / Derivatives

Indonesia Triggers Circuit Breaker, Suspends Pre-Opening Session

12/03/2020

IDX halted trading to end Thursday, just a day after tightening the circuit breaker mechanism. The pre-opening session is suspended until further notice.

Enforcement

Bank of Communications Manager Gets Nine Years Jail for Bribery

12/03/2020

The former manager accepted more than 10 million yuan in bribes and embezzled a further 820,000 yuan, representing illegal gains from organising employee competitions and events.

Market Infrastructure

APRA’s New Data Collection Solution to Go Live in Six Months

12/03/2020

The revised timeline follows APRA’s decision in October to explore alternative implementation approaches for the new solution, which will be known as ‘APRA Connect’.

Market Infrastructure

PBOC, CSRC Pledge to Enhance Bond Market Functioning

12/03/2020

The regulators will work to optimise the bond issuance management system, promote bond product innovation, and enhance the policy environment for private enterprises.