Securities / Derivatives

PBOC Optimises Interbank Bond Market Circulation Mechanism

06/04/2021

Bond registration, depository and clearing institutions will establish direct connections with the interbank bond market to enable electronic transmission of information.

Korea Lowers Max Lending Rate, Introduces New Rules for Lenders

06/04/2021

The FSC will introduce new monetary sanctions and strengthen supervision on loan agreements to prevent predatory lending.

Capital / Liquidity

Korea Finalises Supervisory Framework for Financial Conglomerates

05/04/2021

Effective from 30 June, the framework for the supervision of non-holding financial groups will help enhance the management of group-wide risks.

New Zealand Ends Loan Repayment Deferral Scheme

05/04/2021

Banks are continuing to work with borrowers who still need help to get back on track, says NZBA chief executive Roger Beaumont.

Market Infrastructure

FCA, BOE Urge Switch to SONIA in GBP Non-linear Derivatives

05/04/2021

The FCA and BOE have asked liquidity providers and interdealer brokers to adopt SONIA in quoting conventions for GBP non-linear derivatives from 11 May.

Enforcement

ASIC Bans Sale of Binary Options to Retail Clients

05/04/2021

The binary options ban will take effect from 3 May. A separate order imposing conditions on the issue and distribution of CFDs to retail clients has taken effect on 29 March.

Capital / Liquidity

No Material Negative Side Effects to TBTF Reforms: FSB

03/04/2021

Indicators of systemic risk and moral hazard moved in the right direction, suggesting that market participants view these reforms as credible, the FSB says.

AML / KYC

China Issues Draft Rules on Beneficial Ownership Identification

03/04/2021

FIs will be required to verify the identities of all ultimate beneficial owners of accounts opened and maintained for all customers.

Big Picture

ISDA, CCDC Outline Barriers to Using RMB Bonds as IM Collateral

03/04/2021

China has to address questions around close-out netting enforceability, which restrict the use of Chinese government bonds as IM in global derivatives markets.