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GC Asia
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China lays groundwork for more climate financing, investment
China’s ecological and financial regulators have jointly published guidelines around climate change-related financing and investment.
28 Oct 2020 -
ECB can't pick and choose, even for the environment
An ESG think tank believes that the European Central Bank should drop Alberta’s euro bonds from its list of eligible marketable assets as a punishment for its support for polluting industries. But while it is a laudable aim, it is not practicable.
27 Oct 2020 -
Covid-19 equity raises could be subject of litigation
Companies raising equity in the UK this year — amid a very uncertain outlook for business prospects — may risk opening themselves up to claims related to the information they disclose or do not disclose, according to lawyers at Herbert Smith Freehills.
26 Oct 2020 -
Markets expect EBA guidance will force action on legacy bank capital
European banks could be set for a wave of calls and tenders on legacy debt instruments, after the European Banking Authority demanded a clean-up this week. Action may not be immediate, however, with markets still seeking clarity on a number of key issues.
23 Oct 2020 -
China policy and markets round-up: Fiscal revenue returns to growth, Sweden bans Huawei, S&P expands to exchange bond market
In this round-up, China’s fiscal revenue growth turns positive in the third quarter, Sweden becomes the latest to ban Huawei Technologies from its 5G plan, and S&P Global Ratings’ onshore unit secures a licence to rate domestic bonds in the exchange market.
23 Oct 2020 -
UK moves early to dispel fears about bank capital buffers
Markets rejoiced this week after the Bank of England proposed policy changes that will make it harder for UK lenders to run into automatic restrictions on their additional tier one coupons and equity dividends. The move was seen as a way of addressing concern about ‘buffer usability’, which has come to the fore during the Covid-19 pandemic.
22 Oct 2020 -
CFTC and BoE tie up clearing agreement
The US Commodity Futures Trading Commission and the Bank of England signed a memorandum of understanding on Tuesday regarding the oversight of derivatives clearing.
22 Oct 2020 -
BoE to ease MDA rules for UK banks
The Bank of England said this week that it would loosen some of the rules around the maximum distributable amount for UK banks after Brexit, making it harder for them to trigger restrictions on their additional tier one (AT1) coupons and equity dividends.
21 Oct 2020 -
EBA looks to halt 'infection risk' on legacy capital
Much of European rule making in wider society has been about preventing infection spreading to the elderly of late. But the European Banking Authority has instead weighed in on the "infection risk" that stems from grandfathered securities.
21 Oct 2020 -
ECB laments lack of CCy cap before Covid
The European Central Bank said this week that it thought a stronger role for countercyclical capital buffers would be key in making sure that banks use their available resources to boost lending in times of crisis.
20 Oct 2020
