China
Market RWAs surge across Chinese banks in Q1
Eleven of 13 lenders report increases as total hits record 2.97 trn yuan
Clearing members want more from HKEX on collateral rates
The CCP has cut handling fees on posted margin, but is still paying members less than global peers
China opens door to CGBs as initial margin
CCDC’s new rules expected to drive use of CGBs as collateral in non-cleared and cross-border trades
Chinese G-Sibs’ credit charges hit post-Covid high
Agricultural Bank of China swings to record Q1 provision as loan-loss costs rise across country’s largest banks
Chinese securities houses await margin clarity from CSRC
Firms still in the dark about how to exchange VM ahead of go-live in September
Commodity CCPs buck trend with IM breaches in Q1
Precious metals and energy clearing units stand out, as most CCPs avoid breach surge despite Iran war turmoil
Op risk data: HSBC hit with $400m external fraud loss
Also: China’s unlicensed trading clampdown; SocGen’s insurance mis-selling woes. Data by ORX News
Contract negotiation tops tech sovereignty for banks in Asia
Regulatory pressure is rising, but industry still focused on service agreements with third parties
Crisis? Which crisis? How ECB stress test failed to see Strait
Banks were told to design geopolitical shock scenarios, but some focused mainly on tariffs
Equity and securitisation RWAs surge at Chinese banks
Eight of 12 lenders hit new highs for equity RWAs in Q4
China leads global banks’ LCR retreat in 2025
Twenty-one of 29 G-Sibs reported lower liquidity ratios than the previous year
Offshore CGB futures still wanted as onshore opens to QFIs
Cash-settled HKEX contracts still in demand despite easing of onshore access
CCB stands apart as Chinese banks diverge on G-Sib indicators
Bank records increases in 13 systemic risk indicators as trading activity jumps in 2025
The rise of AI politics
AI should not be treated as just another technology, writes MAS adviser David Hardoon
HKEX looks to launch central repo clearing in Hong Kong
Hong Kong clearing house says a clearing service will aid development of local repo market
PBoC reserve ratio cut spurs short-term FX hedging
Removal of 20% forex risk rule drives exporters towards options and onshore forwards
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Offshore bonds to give China lifers a yield lifeline
Expansion of Bond Connect scheme will provide higher yielding assets for life insurers, and may ease concerns over asset-liability management
Renminbi options volumes plummet as vol grinds lower
USD/CNH volumes fell 84% in 2025 as PBoC currency management took hold
China eases cross-border grip in new derivatives rules
Lawyers hail return to a “more orthodox territorial approach” to regulating the market
CGB repo clearing is coming to Hong Kong … but not yet
Market wants at least five years to build infrastructure before regulators consider mandate