Securities / Derivatives

Stress Eases in Chinese Offshore Debt Market – Reports

15/12/2022

Chinese offshore dollar bonds have ended 14 months of losses. China’s banks have vowed to extend at least USD 179 billion of financing help to developers.

Capital / Liquidity

FSB to Revise Recommendations on Fund Liquidity Management

15/12/2022

Open-ended funds with illiquid assets should only be allowed to offer daily dealing if they use tools that pass on redemption costs to redeeming investors.

Capital / Liquidity

RBA’s Term Funding Facility Didn’t Boost SME Lending as Intended

15/12/2022

Researchers said the TFF did not directly increase business lending, but it did reduce banks’ funding costs and led to lower interest rates throughout the economy.

Capital / Liquidity

Global Banking System More Resilient After Basel Reforms: BCBS

15/12/2022

Banks that were more heavily affected by the Basel III reforms saw a greater reduction in their cost of capital, the BCBS said.

MAS Proposes to Revise Fair Dealing Guidelines

15/12/2022

MAS proposes to widen the Guidelines to explicitly include all FIs and the corresponding products and services that they offer to their customers.

Crypto / Digital Assets

Hong Kong to List First Crypto Futures ETFs on 16 Dec

15/12/2022

The ETFs are being launched by CSOP Asset Management, one linked to Bitcoin futures and the other to Ether futures traded on the CME.

AML / KYC

GLEIF Confirms Utility of Embedding LEI in eSeals

14/12/2022

In a PoC, GLEIF demonstrated that embedding LEIs in eSeals allowed Japanese and European entities to transact digitally with greater trust.

Enforcement

Singapore Jails Man for Exporting Beverages to North Korea

14/12/2022

The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.

Enforcement

ASIC Finds Product Governance Shortfalls by Small Credit Lenders

14/12/2022

TMDs issued by payday lenders and consumer leasing companies lacked detail in the descriptions of their products and target markets. Review triggers were also set too broadly.