MARKET INFRASTRUCTURE

Market Infrastructure

Japan Lacks Consensus on LIBOR Replacement – Report

By Editors | 05/04/2020

About 57% of Japanese banks say TIBOR should be used, while about 70% of companies prefer to use forward-looking term rates based on TONAR.

Market Infrastructure

Australia Tightens Foreign Investment Rules, Citing National Interest

By Editors | 02/04/2020

Federal approval is now required for all proposed foreign investments regardless of value or the nature of the foreign investors.

Capital / Liquidity

China: State Council to Bolster Financial Support for SMEs

By Editors | 01/04/2020

The new measures will include another RRR cut, $141bn in re-lending and re-discounting quotas, and new bond issuances to exclusively support SME loans.

Market Infrastructure

Bursa Malaysia Implements ISO 20022 for Corporate Announcements

By Editors | 01/04/2020

The messaging standard will transform the corporate announcements flow in Malaysia, favour interoperability with other marketplaces, and foster innovation.

Securities / Derivatives

NZX Subsidiary to Assume Frontline Regulatory Functions

By Editors | 01/04/2020

The new subsidiary will be structurally separate from NZX’s commercial and operational activities and governed by a largely independent board.

Market Infrastructure

SEBI Asks Rating Agencies to Delay Default Recognition

By Editors | 31/03/2020

Market participants call SEBI’s move timely, amid fears of mass downgrades in light of the operational disruptions caused by Covid-19.

Market Infrastructure

Xiaomi-backed Virtual Bank Launches Hong Kong Pilot

By Editors | 31/03/2020

The pilot will allow 2,000 friends and relatives of Airstar, Xiaomi and AMTD Group employees to trial new virtual banking services under the HKMA’s sandbox.

Market Infrastructure

Fed Establishes Repo Facility to Ease USD Funding Stress

By Editors | 31/03/2020

Foreign central banks can temporarily exchange their US Treasury holdings with the Fed for US dollars, which can then be made available to institutions in their own jurisdictions.

Market Infrastructure

India: State Bank Merger Plan Takes Effect on 1 April

By Editors | 31/03/2020

A plan to merge ten state-run banks into four takes effect from 1 April, in a move that will help consolidate their national presence and extend their global reach.