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GC Asia
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EC pledges to ‘move faster’ on resolution reforms in drive for Banking Union
The European Commission is looking to fast-stream work on reforming the EU’s crisis management framework this year, given the lack of political consensus on other issues relating to the Banking Union.
22 Jan 2021 -
China policy and markets round-up: Beijing sanctions former Trump officials, PBoC tightens grip on non-bank payment market, profit growth slows at central SOEs
In this round-up, China imposes sanctions on 28 US government officials who were part of the Donald Trump administration, the central bank increases oversight of non-bank payment firms, and profit growth at central government-owned enterprises suffers from the Covid-19 pandemic.
22 Jan 2021 -
Afme proposes recapping with equity-like
Many EU companies could do with capital beyond debt, according to the Association for Financial Markets in Europe (Afme). The trade body, in a report it produced alongside PwC, suggests encouraging the use of equity-adjacent products to fill balance sheet gaps from the coronavirus crisis.
19 Jan 2021 -
The week in review: China’s GDP grows 2.3% in 2020, regulator expands market bans on securities-related violations, Ant works on business overhaul timetable
In this round-up, China’s coronavirus-hit economy grows 2.3% year-on-year in 2020, the securities regulator plans to introduce more bans on those who break rules in the onshore capital markets, and the vice central bank governor says Ant Group will give a timetable for the shakeup of its businesses.
18 Jan 2021 -
ECA invites EU legislators to address ‘shortcomings’ in bank crisis rules
The European Court of Auditors published an assessment of the EU’s crisis management framework this week. It urged policymakers to align national insolvency procedures with bloc-wide resolution rules, as a way of making sure that banks are treated consistently when they fall into financial difficulty.
15 Jan 2021 -
China policy and markets round-up: Xiaomi, Cnooc added to US blacklists, Beijing launches grading system for consumer finance companies, insurance asset managers
In this round-up, the US adds Chinese technology giant Xiaomi Corp and oil major Cnooc to its blacklists, and Beijing announces measures to monitor consumer finance companies and insurance asset managers.
15 Jan 2021 -
Bank balance sheets could be obscured, says Coen
The impact of coronavirus on economies has led to extraordinary help being granted to banks and their customers. But this brings the risk of problems on banks' balance sheets being hidden, according to William Coen, former secretary general of the Basel Committee on Banking Supervision.
14 Jan 2021 -
First dual-compliant post-Brexit CLO closes
The first CLO to comply with both diverging regimes in the UK and the EU has closed, marking a post-Brexit point of no return for the securitization market.
14 Jan 2021 -
MEPs vote through harmonised NPL secondary market
The European Parliament's Committee on Economic and Monetary Affairs (ECON) has voted through regulation to harmonise the secondary market for NPLs across Europe, pushing through a key stage of its Action Plan aimed at rebuilding the European economy post-pandemic.
14 Jan 2021 -
City waits for divergence, or maybe equivalence
Anyone who thought the culmination of a trade deal between the EU and UK would provide a shining ray of clarity for financial services as to the level of market access between the two has been proved wrong. Little progress on regulatory equivalence decisions has been made, and while this points the way towards divergence, it is still unclear how exactly the UK would go about this.
12 Jan 2021
