People’s Bank of China (PBOC)
Chinese banks expected to launch TLAC market onshore
Estimated issuance needs of $510 billion are heavy, but thought to be manageable
Swap Connect growth hampered by unwinding issues
Users’ inability to trade bespoke swaps to unwind positions deters foreign investors
PBoC eyes further opening of onshore repo for foreign investors
Chinese central bank gives first official signal it is looking at Swap Connect-style scheme for repo
DisConnect: no deluge of demand for onshore CNY swaps – yet
Despite modest uptake, new onshore swaps on China’s Swap Connect could outdo non-deliverable IRSs, say dealers
Chinese corporates step up FX hedging after reopening
Exporters eye hedges as RMB strengthens, but negative forward points are a turn-off for some
StanChart is first non-Chinese bank to trade onshore CGB futures
China selects UK bank in first step to opening up its government bond futures market
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
FSB: third of climate stress tests not tackling physical risk
Six jurisdictions conducted exercises only for transition risk
PBoC deposit requirement hits FX hedging, again
Reinstated rule hikes forwards costs and dents volumes, but volatility sees corporate demand persist
Dealers predict Swap Connect will boost China’s swaps market
Banks expect strong interest from clients wishing to trade instruments onshore via new access scheme
Corporates boost FX hedges as US dollar surges
Banks see more business, but also rising exposures, from corporates’ FX decision-making
China hints at broader scope with netting law name change
Central bank reportedly behind name change as derivatives rise up political agenda
From the margins: CGBs vie to join the collateral club
Can CGBs emulate US Treasuries as initial margin on cross-border derivatives trades?
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
Repo-linked renminbi floaters fail to excite investors
Muted demand dents China’s hope for repo fixing to become debt market’s benchmark of choice
Chinese banks set for mass loan repricing
Options launch slated for February to help industry switch to new benchmark by August
HK-China blockchain link tipped to boost trade finance
HSBC, StanChart and Bank of China welcome Hong Kong and China trade finance tie-up
Chinese banks look at swaptions pricing
Switch to market rate for loans prompts lenders to explore hedging tools
Global banks grapple with China joint ventures
Offshore lenders weigh raising stakes in local securities houses despite tight margins
China hints at future bank resolution framework
Baoshang Bank collapse offers clues to how government intends to resolve tomorrow’s failing banks
Credit data: falling default risk for China’s banks
Economic data may be relatively gloomy, but default probabilities for lenders fell sharply last year
China sees slowdown in structured deposit volumes
Easing of restrictions on wealth management products tips market away from structured deposits
China warning spurs banks over bail-in debt plans
Competing for attention in global TLAC markets could drive up costs for Chinese lenders