Fintech / Regtech

US Agencies Pledge to Combat Harmful Uses of AI

30/04/2023

Four agencies reaffirmed their commitment to “vigorously enforce their collective authorities and to monitor the development and use of automated systems.”

Securities / Derivatives

BSP Streamlines and Expands Currency Hedging Facility

30/04/2023

The BSP approved amendments to make it easier for clients of large banks to hedge peso-US dollar exposures through NDFs.

Securities / Derivatives

China Outlines Plan for Shifting Enterprise Bond Oversight to CSRC

30/04/2023

Enterprise bonds, mainly issued by large state-owned enterprises, have to date been subject to oversight and supervision by the NDRC.

Enforcement

Korean Authorities Probe Manipulation in Eight Stocks

30/04/2023

Prosecutors have issued travel bans on ten individuals who are suspected of engaging in stock price manipulation activities.

Hong Kong Further Extends Repayment Period for Trade Loans

30/04/2023

Existing trade facilities falling due between May and July 2023 can be extended by a further 90 days, the HKMA said.

ESG / Sustainability

Report Offers Recommendations to Finance GBA Net Zero Transition

30/04/2023

Report from WRI China calls for the establishment of a cross-regional agency coordination mechanism for financing decarbonisation in the GBA.

ESG / Sustainability

Korea Takes Measures to Address Fraudulent IPO Subscriptions

30/04/2023

IPO bookrunners must verify institutional investors can pay for stocks before allotment; risk weight for carbon emissions rights is reduced.

Capital / Liquidity

ECB Scrutinising Bond Losses at European Banks

30/04/2023

The ECB is asking banks about their practices for hedging interest rate risk, including to assess whether risks have been shifted to nonbanks.

Market Infrastructure

China Uses CNY Cross-border More than USD for First Time

30/04/2023

The yuan was used in 48.4 percent of China’s cross-border transactions in March, compared to 46.7 percent for the dollar.