Market Infrastructure

Market Infrastructure

Westpac Becomes First Aussie Major to Issue SOFR Debt

By Editors | 28/05/2021

The bond issuance included a $300mn floating-rate bond tranche maturing in five years that was priced at a 52 basis point spread over SOFR.

Market Infrastructure

LIBOR Transition in Cash Markets Remains Slow: ASIC

By Manesh Samtani | 28/05/2021

Only 14 percent of post-cessation date loans have robust fallbacks in place, said ASIC’s Nathan Bourne at a Bloomberg-ICMA webinar.

Market Infrastructure

FIA Seeks Additional Clarity on China’s “Historic” Futures Law

By Manesh Samtani | 27/05/2021

FIA is requesting additional clarity on settlement finality and proposing that the protections in the new futures law be further expanded.

Market Infrastructure

ICMA, Bloomberg Publish APAC Guide on Tough Legacy Bonds

By Manesh Samtani | 27/05/2021

Up to 80% of tough legacy bonds in APAC have inadequate fallbacks in place, or no fallbacks at all, ICMA and Bloomberg say in a new report.

Big Picture

NGFS Publishes Preliminary Findings on Climate-related Data Gaps

By Editors | 26/05/2021

The availability of reliable climate-related data requires swift progress on disclosures, global taxonomy, and transparent and quality-assured metrics, the NGFS says.

ESG / Sustainability

BOE Explores Options for Greening Bond Purchase Programme

By Sanday Chongo Kabange | 26/05/2021

The BOE is exploring tools to incentivise companies whose debt it holds to take decisive action to achieve net zero in meaningful and lasting ways.

ESG / Sustainability

IAIS Offers Supervisory Guidance on Climate Risk in Insurance Sector

By Editors | 25/05/2021

New paper sets out recommendations to promote a globally consistent approach to the supervision of climate-related risks in the insurance sector.

Market Infrastructure

IOSCO Explores Conduct Risks in Leveraged Loan, CLO Markets

By Editors | 25/05/2021

IOSCO is looking to understand potential conflicts of interest and misaligned incentives that may exist among participants in the leverage loan and CLO markets.

Market Infrastructure

EU Ramps Up Regulatory Scrutiny Over Foreign Bank Branches

By Editors | 25/05/2021

New rules will require foreign banks operating in the EU to consolidate their operations under an “intermediate parent undertaking”.