Latest markets/regulation news
John Wade resurfaces at Mizuho — MUFG names new co-head of Asia corporate banking — GS loses ECM banker — Credit Suisse Apac head of equity-linked retires
Peugeot Citroën’s joint venture in China is coming back to the ABS market on August 22 after a year-long absence. The automaker will approach investors with only one tranche, trimming from the two tranches offered on its debut. But that will not impact the size — the originator plans to triple its fund-raising with a Rmb3bn ($449.8m) offer.
Short-dated CNY swaps have been lightly offered and the 2s/5s NDIRS curve slope has steepened slightly. Meanwhile, the People’s Bank of China is considering expanding its reverse repo operations and its Macro Prudential Assessment reporting requirements have been tweaked, writes Deirdre Yeung of Total Derivatives.
China Central Depository and Clearing (CCDC) published its biannual report on China’s asset backed securitization (ABS) market on August 8. It recommended regulators loosen up liquidity, provide incentives to attract more participants, and test the waters by opening an offshore ABS market. Here’s a quick guide to what CCDC said.
A raft of measures approved over the past two decades has opened the door to China’s onshore capital markets. But the Mainland still fares poorly against other countries in its pace of opening up, the International Monetary Fund (IMF) said in its latest China country report.
ANZ’s cash profit rose 5.3% to A$1.79bn ($1.4bn) for the third quarter ending June 30, as the Australian lender continues to reshape its institutional banking business.
This week in renminbi: PBoC prioritises preventing systemic risk, China’s ODI falls, Trump readies probe of Chinese IP
The People’s Bank of China puts preventing systemic risk as a priority in its quarterly policy report, China’s non-financial outbound direct investment (ODI) falls in the first half, and US president Donald Trump wants to start an investigation into potential Chinese violation of US intellectual property policy.
Ford Automotive Finance (China) is gearing up for its second auto loan ABS transaction of the year in China, with bookbuilding slated for August 17. The carmaker is hoping to take home Rmb4bn ($600.2m) from the deal — a larger size than its last trade.
RMB round-up: China’s FX reserves up for six straight months, first FTSE Russell China ETF lists in Shanghai, StanChart’s RGI marks seven-month long decline
China’s FX reserves grow again in July, Harvest Fund Management lists the first ETF tracking FTSE Russell’s China index on the Shanghai Stock Exchange, and Standard Chartered’s Renminbi Globalisation Index (RGI) falls in June.
China’s new Financial Stability and Development Commission (FSDC), set up in July and integrated into the country’s central bank, reflects the authorities’ desire to change the regulatory set-up. But it is unlikely to lead to an outright merger of regulators.
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Panda Bonds Top Arrangers
|Rank||Arranger||Share % by Volume|
|2||China CITIC Bank Corp||12.38|
|3||Bank of China (BOC)||11.61|
|5||China Merchants Bank Co||10.06|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||China International Capital Corp Ltd||7,824.36||37||5.35%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|4||Standard Chartered Bank||12,677.71||92||4.74%|
|5||Bank of America Merrill Lynch||11,943.66||69||4.47%|
Asian polls & awards
Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the final five questions.
Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the first five questions.
You know who won, now find out why. GlobalCapital Asia and Asiamoney present the extended results of our 2016 China Deals and Investment Bank of the Year awards, recognising achievement both on and offshore.
GlobalCapital Asia and Asiamoney present the extended results for our 2016 Best Country Deals. Discover why these bond, equity and loan transactions delivered outstanding outcomes for issuers and investors.
The names have been announced, now find out why they stood out from the crowd. GlobalCapital Asia and Asiamoney present the extended results for our 2016 Australia Deals and Investment Bank of the Year awards, recognising achievement in equities, bonds, loans and investment banking.