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Market Infrastructure
Fed Establishes Repo Facility to Ease USD Funding Stress
By Editors | 31/03/2020
Foreign central banks can temporarily exchange their US Treasury holdings with the Fed for US dollars, which can then be made available to institutions in their own jurisdictions.
Big Picture
Short-selling Bans Fail to Achieve Positive Effects: WFE
By Manesh Samtani | 31/03/2020
In Asia, South Korea, Malaysia and Indonesia have imposed short-selling bans, while Thailand, Taiwan and India have tightened their rules to make the practice more difficult.
Capital / Liquidity
Covid-19 Puts Financial Regulation Under Stress
By Peter Guy | 30/03/2020
Business continuity plans, social distancing measures, economic stimulus and liquidity constraints are hindering banks’ abilities to stay consistent with regulators’ expectations, says Peter Guy.
Market Infrastructure
BOK to Provide Banks $12b in USD Funding This Week
By Editors | 30/03/2020
The move is expected to help stabilise US dollar funding markets, after the BOK signed a $60bn currency swap agreement with the US Federal Reserve earlier this month.
BOK Promises “Unlimited Liquidity” for Financial Firms
By Editors | 26/03/2020
South Korean authorities will also reduce the amount of high-quality foreign assets banks need to hold to free up additional US dollar liquidity.
MAS Offers Banks US Dollar Funding
By Editors | 26/03/2020
Banks are “strongly encouraged” to avail themselves of MAS liquidity facilities so that they can better serve customers.
Securities / Derivatives
BOT Establishes Liquidity Facility for Money Market, Fixed Income Funds
By Editors | 25/03/2020
Money market and daily fixed income funds can obtain low-cost liquidity assistance from banks, which can in turn use fund units they buy under repurchase agreements as collateral for BOT liquidity.
Capital / Liquidity
BSP Announces RRR Cut, Lenders Asked to Grant Debt Relief
By Editors | 24/03/2020
The 200 basis point cut will release up to 200bn pesos in bank liquidity. Lenders are encouraged to continue lending and to offer debt relief to borrowers.
Market Infrastructure
US Fed Indicates Open-ended Commitment to Quantitative Easing
By Editors | 23/03/2020
“Aggressive efforts must be taken across the public and private sectors,” the Fed said, effectively pledging to buy Treasuries and mortgage-backed securities to any extent required
Securities / Derivatives
EU, US, UK Authorities Grant Relief on Call Recording Rules
By Editors | 23/03/2020
ESMA, the CFTC and the FCA have each indicated that financial firms can consider alternative mitigating steps in circumstances where call recording with clients is not possible.
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