China Citic Bank
Op risk data: US piqued by Pictet tax breach
Also: US Bank’s Covid failings; South Korea’s short-selling clampdown. Data by ORX News
China’s ABC, BoC buck H1 trend and cut market risk
Market risk charges keep rising at CCB, ICBC and all non-systemic banks
BoComm, Nomura and Citic near G-Sib designation
Dealers could all become members of the club next year if trend continues
Asia moves: Ex-Vanguard Asia chief joins CLSA, Man Group names equities head, and more
Latest job news across the industry
Covid loan losses exceed 2019 CCAR projections
CECL accounting likely responsible for discrepancy
Hong Kong banks fear clashing swaps margin rules
SFC proposal could complicate trades with HKMA-regulated entities and centralised treasuries
China grants first cross-border OTC derivatives licence to Citic
Securities house becomes first onshore firm licensed to trade with offshore dealers
Standard Chartered names DCM head, and other recent job moves
Job changes in the derivatives, regulation and risk industry throughout Asia
Chinese equity derivatives master agreement close to being finalised
Securities firms in China have begun trading OTC equity derivatives, with a final master agreement expected soon
On the move
On the move
Hong Kong seeks to create ‘fixing’ rate for offshore renminbi; move will bolster derivatives market
Hong Kong's efforts to create an offshore renminbi fixing rate are viewed as strategically important for the development of the offshore renminbi, with such a benchmark essential for the growth of CNH derivatives, say market experts
New loan-loss reserve requirement under Basel III set to crimp profits at Chinese banks
A new 2.5% minimum loan-loss reserve requirement to be implemented in China under Basel III is likely to reduce the ability of banks to distribute profits to shareholders
New central securities company to facilitate short selling in China
One of China's leading securities houses sees a bright future for domestic investment banks developing hedge fund-like trading businesses, once securities short-selling is further liberalised on the mainland through the establishment of a central…
RMB-denominated OTC derivatives poised to take off in Hong Kong
The renminbi deliverable forwards market has hit at least $28 million during the first month of trading following an agreement in July between the the PBOC and HKMA that enabled Hong Kong to act as an offshore centre for the Chinese currency.
Metal mania
China is the world’s fastest-growing consumer of base metals and its appetite for raw materials has resulted in a staggering growth in onshore listed derivatives. But its relevance to the institutional markets is still limited. Georgina Lee reports
On the move
People
Citic Pacific plummets after $2 billion derivatives loss
Shares in Citic Pacific, the Hong Kong arm of the Chinese state investment company Citic, fell 55% today after the company admitted a $2 billion loss on poorly-managed forex hedges.
PBOC gives OTC foreign exchange trading go-ahead
The People's Bank of China (PBOC) has opened up the country's spot FX market to over-the-counter trades, and authorised the China Foreign Exchange Trading System (CFETS) to determine the daily central parity rate for the RMB against foreign currencies.
Citic Industrial Bank ramps-up risk systems
China’s Citic Industrial Bank has adopted SunGard’s Panorama risk management solution, which marks the US trading and risk management systems firm’s first major client in the potentially lucrative Chinese market. And as the country’s largest banks…