Asia Risk
Holes in the net: lawyers split over China netting opinions
Law firms are offering close-out netting opinions, but not everyone agrees it is possible
Japanese banks eye phased CVA introduction
Working group reports “growing need” for valuation adjustment but cherry-picking fears persist
Malaysian central bank strengthens onshore hedging
Bank Negara is complementing last year's NDF restrictions with a more open onshore market
Effective collateral management strategies
Sponsored webinar: Calypso
Ashurst non-netting opinion on China splits lawyers
EU banks using opinion for margin exemption, at possible cost of capital savings
What the ambitions of China’s banks mean for Hong Kong
Political war of words over former colony means little; it’s the appetite of mainland banks for local dominance rivals should watch
People moves: Hsu swaps HSBC for StanChart
Also: Instinet hires Asia-Pacific CEO, China chief for Citi, IDFC Bank names new chief exec; and others
Asia Risk Corporate & Institutional Rankings 2017: The winners
Standard Chartered and HSBC top the tables
Lawyers divided over Isda’s China netting memo
New legal guidance spells out how close-out netting may be achieved, but critics say it’s impractical
People moves: ANZ makes senior changes in Apac
Also: Priestley leaves JPM; Hong Kong’s Insurance Authority staffs up; ABN Amro hires Simon Wood; and others
CECL: preparing for the new standard
Sponsored webinar: Wolters Kluwer
Japan seeks speedy margin rule equivalence decisions
The country has equivalence agreements with Canada and the US, but not Europe
Australia’s bank levy could squeeze TLAC drive
Issuing Tier 2 and senior unsecured debt will become more expensive for the top four banks in the country
Surprise RMB strengthening prompts unwinds
“A lot of long [US$] positions were unsustainable and had to be re-evaluated,” says forex structuring head
Banks worry FRTB will fracture Asian trading desks
Rules could produce “lots of little country desks”, warns StanChart market risk head
BAML and Morgan Stanley shift Indian P-notes to Europe
Tax changes trigger move out of Mauritius and Singapore
Bail-in ambiguity hands funding advantage to Japanese G-Sibs
Financial Stability Board wants Japan to clarify the conditions under which it can use its resolution powers
People moves: Citi promotes Bacon to Apac investments head
Also: Natixis adds Kenneth Lee; Yin joins HSBC Private Bank; JP Morgan nabs three from Goldmans for Aus/NZ; and others
China TLAC uncertainty frustrates capital planning
Banks face $1 trillion issuance crunch if regulators take too long to define bail-in debt
Documentation concerns slow CNY forex derivatives growth
Foreign fund managers need clarity before market can take off, say banks
Asia Risk interdealer rankings 2017: SG and Icap top the tables
Flexible approach to volatility wins SG the bank award; Icap takes broker slot for breadth of coverage
People moves: UBS nabs Barclays’ former Asia equity head
Plus: new equity head for HSBC; ANZ adds rates strategist; Jones leaves LME; and others
China’s insurers wrestle with ALM as liabilities lengthen
Clampdown on overseas investment fuels pressure to find long-duration domestic assets
Japanese banks fear 20% TLAC increase
Recalibration of Basel risk weights raises fresh concerns over bail-in buffer levels