Japan to Launch New Benchmark Interest Rate by Mid 2021 – Report

31/01/2020

From around Q2 this year, ‘reference rates’ for the new benchmark will be released as a first step, which will not be used for actual transactions.

Market Infrastructure

Buy-side Adoption of FX Global Code Lagging: BIS

31/01/2020

More needs to be done to bolster buy-side adoption of the FX Global Code, says MAS deputy managing director Jacqueline Loh, who also chairs the BIS Markets Committee.

Securities / Derivatives

HK Listed Companies May Miss Earnings Deadline – Reports

31/01/2020

The HKICPA has met with HKEX to propose extending a 31 March filing deadline for China-based companies listed in Hong Kong affected by coronavirus-related travelling restrictions.

Capital / Liquidity

Some Chinese Banks Would Crack Under Stress: S&P

31/01/2020

S&P Global Ratings identifies Bohai Bank, China Zheshang Bank, and Shengjing Bank as under more pressure than other PBOC stress-tested banks.

Market Infrastructure

RBNZ Endorses Official Cash Rate as Fallback Benchmark

31/01/2020

New Zealand will operate a dual interest rate benchmark system, retaining the Bank Bill Benchmark Rate and using the OCR as its fallback.

Uncategorised

IMF Warns of Buildup of Financial Vulnerabilities

30/01/2020

The deployment of cyclical macroprudential policy tools such as the CCyB is now paramount to keep rising vulnerabilities from putting growth at risk.

Capital / Liquidity

HKMA Maintains 2% CCyB Amid ‘Uncertain’ Environment

30/01/2020

HKMA chief Eddie Yue says it is appropriate to maintain the CCyB at 2.0% to allow more time to “observe the trend”.

Enforcement

SFC Suspends RHB Securities AE for Unauthorised Discretionary Trades

30/01/2020

The account executive conducted discretionary trades for a client account for almost two years without obtaining written authorisation.

Enforcement

ASIC Bans Adviser for Bad Investment Recommendation

29/01/2020

A former adviser of NAB-owned Godfrey Pembroke failed to act in his clients’ best interests by recommending they invest in a mobile payments start-up that later failed.