Deregulation
Fed proposes lighter regulations for large banks
Lael Brainard objects to plans, warning they could leave taxpayers “on the hook”
China and Australia sign A$30bn currency swap
Australia joins the ranks of central banks with a bilateral currency swap line with China; reflects increased use of renminbi and closer trading ties between the countries
HSBC completes first US cross-border renminbi trade settlement
NEW YORK - HSBC USA completed its first US cross-border renminbi settlement, following the extension of China’s renminbi trade-settlement pilot programme in June.
Dealers target hedging activity in the Philippines
MANILA – While authorities in the West increase derivatives regulation, the Bangko Sentral ng Pilipinas has liberalised rules governing both hedging and yield enhancement markets in the past few years. Despite the challenges of penetrating a market…