Market Infrastructure

US Banks Execute First BSBY-Linked Swaps Transaction

06/05/2021

Bank of America and JPMorgan Chase entered into a $250mn one-year basis swap with one side tied to BSBY, the other to SOFR.

Market Infrastructure

New Zealand Passes Financial Market Infrastructures Bill

06/05/2021

The Bill provides the RBNZ and FMA with comprehensive regulatory, supervisory, enforcement, and crisis management powers in respect of important FMIs.

ESG / Sustainability

Japan to Incorporate Human Rights in Governance Code – Report

06/05/2021

Authorities will be pushing companies to root out potential forced labour and human trafficking abuses in their supply chains.

Enforcement

China SOEs Directed to Rein In Unauthorised Derivatives Trading

06/05/2021

SOEs are directed to ensure their subsidiaries are qualified and properly approved to trade financial derivatives, and able to manage the associated risk.

Fintech / Regtech

MAS Launches FinTech Hackcelerator Focused on Green Finance

06/05/2021

Fintech firms and solution providers are invited to submit innovative solutions to address any of 52 problem statements related to green finance.

Securities / Derivatives

BSEC Allows Foreign Companies to Sponsor Mutual Funds

06/05/2021

Foreign companies will be allowed to become sponsors of mutual funds, subject to a maximum contribution of 25 percent of the find size.

Capital / Liquidity

CBIRC Optimises Supervision of Foreign Banks in China

06/05/2021

The move is expected to allow foreign banks to play a role in facilitating China’s financial market opening-up and channelling funds into the economy.

Fintech / Regtech

Australia Considers Making CDR Data More Portable

06/05/2021

Under draft rules, accredited businesses would be able to share CDR data with their agents, or sponsor other parties to become accredited.

Capital / Liquidity

RBI Announces Support Measures for Second Covid Wave

05/05/2021

The measures include liquidity for bank lending to businesses, continued regulatory exemptions, and an additional round of restructuring and moratoria flexibility.