China
Isda set to draft China netting opinion
Banks could be in a position to turn on close-out netting in China by third quarter
HSBC, StanChart face capital hit on cleared renminbi trades
Lack of UK recognition for Shanghai Clearing House could prompt banks to reduce exposures
China netting: industry raises concerns on cross-border trades
Filing requirement of new netting law could unfairly penalise trades from foreign banks
After FTSE inclusion, China bonds still face CNY hedge hurdles
Lack of pricing competition and costly hedges top buy-side hurdles to investing in China, says ChinaFICC CEO
China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
Renminbi splurge lifts BNPP, MSIM in Q1 options data
Counterparty Radar: Morgan Stanley IM is largest options user, following series of huge renminbi calls
China netting law drives interest in CSAs
Steady growth in contracts with CSAs suggests confidence that clean netting is near
Chinese exporters urged to ramp up US dollar hedges
Dealers join China’s Safe in sounding alarm at mounting unhedged FX exposures
Tighter RMB rates basis brings new hedging opportunities
Increasing alignment between CNH and CNY benchmarks opens door to more cross-currency hedging by foreign lenders
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
China tightens regulations on non-bank payment firms
Central bank will scrutinise payments more closely and fine firms for rejecting cash
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
Investors eager for next round of China financial reforms
Bond futures and credit default swaps the missing pieces
MAS unveils renminbi funding for banks in Singapore
New funding scheme of up to 25 billion yuan replaces overnight funding facility
Asia’s FX markets step to the algorithm
Buy-side use of automated trading programs builds, albeit from a low base
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
FX Markets Asia Awards 2020: The winners
Citi lands four wins in this year’s awards
China derivatives appetite set to grow as PBoC lifts deposit rule
Central bank rule change could cut hedging costs by up to 100bp, traders say
FX swap volumes set to rise on China govvies index inclusion
Traders expect greater use of FX derivatives if FTSE Russell adds bonds to the WGBI this week as expected
RMB hedging comes onshore as regulators liberalise FX market
Foreign investors turn to CNY for bond hedges as rule changes spur more competition
Banks trade first USD/CNY cross-currency swap versus SOFR
Risk-free rate sets new milestone with Crédit Agricole and Bank of China’s $10m trade
Is there a dollar funding squeeze in China?
China could benefit from joining the Fed’s dollar swaps network but political obstacles bar the way
Fed extends dollar funding to more central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies