Structural Regulation

UK to Grant FCA Additional Powers to Facilitate LIBOR Retirement

23/06/2020

Legislative amendments will empower the FCA to prohibit or limit the use of LIBOR, or to direct a change in its methodology, to address the issue of ‘tough legacy’ contracts.

Structural Regulation

India to Restrict Foreign Ownership of Pension Funds

23/06/2020

Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.

Credit Risk

BOT Announces ‘Phase 2’ Measures to Support Debtors

23/06/2020

Lenders are directed to sustain debtors through lower interest rates and fees, expanded credit limits, delayed property seizures, and other debt relief and restructuring measures.

Structural Regulation

Bangladesh Bank Eases Foreign Investor Repatriation Policy

23/06/2020

Remittances of share sale proceeds to non-resident foreign investors no longer need prior approval from the central bank if pricing is determined based on the net asset value approach.

Sustainable Finance

MAS Seeks Cooperation with China on Green Finance

23/06/2020

MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.

Structural Regulation

ASX Calls for Reforms Around Class Actions, Litigation Funding

22/06/2020

The benefit of securities class actions may disproportionately benefit litigation funders rather than plaintiffs in those proceedings, with the costs falling on the shareholders, ASX says.

Structural Regulation

China to Ease Rules on Foreign Strategic Investment in Listed Companies

22/06/2020

The revisions lower foreign investor asset requirements, reduce the lock-up period from three years to 12 months, and expands investment channels to include IPOs and tender offers.

Emerging Prudential Risks

Bank Indonesia Cuts Rates, Pledges More Bond-Buying

22/06/2020

Bank Indonesia abandoned the practice of quantitative easing in 1999 to ensure fiscal discipline in the aftermath of the Asian financial crisis.

Capital Adequacy

China: Local Govts to Replenish Capital at Smaller, Midsize Banks

22/06/2020

Local governments will be allowed to buy ¥200bn in capital replenishment tools issued by small and midsize banks, with a fixed term, detailed repayment plan, and assurances on corporate governance and asset quality.