Market Infrastructure

Jiantou Citic Asset Management will transition into a financial asset management company, making it the first new national distressed debt manager authorised since 1999.

Of the 19 jurisdictions surveyed, all prescribe 'fit and proper' criteria to assess bank board members, however some authorities have no regulatory powers to approve their appointments.

Banks should be encouraged to undertake prudent renegotiation of loan terms for stressed borrowers, but loan classification and provisioning rules should not be eased.

PwC spoke to DBS's Sia Nam Chie and OCBC's Simon Lavender about the challenges they faced setting up the independent validation function for BCBS 239 compliance.

The RBA says it stands ready to buy government bonds in the secondary market, while APRA and ASIC are tasked with 'adjusting' regulatory requirements to boost credit availability.

About 50% of the 6.3 quadrillion yen in notional derivatives referencing LIBOR will mature after 2021, but "very few" contracts incorporate fallback provisions.

The move will increase the funding channels available to SMEs, ease their financing difficulties and help them more quickly resume normal operations, SAFE says.

The FSA licence will allow Japanese financial institutions to combine their listed and OTC euro yield curve businesses in one single place, Eurex says.

The revised timeline follows APRA's decision in October to explore alternative implementation approaches for the new solution, which will be known as 'APRA Connect'.

The regulators will work to optimise the bond issuance management system, promote bond product innovation, and enhance the policy environment for private enterprises.