PBC and State Administration of Foreign Exchange (SAFE) published "Measures for Administration of Cross-Border Funds of Depository Receipts (Trial Implementation)." These measures shall be implemented as of the date of promulgation. The measures cover administration of depository receipt issuance funds, administration of cross-border fund transfers, depository fund management, and statistics and supervision.
The depository receipts referred to in these measures include depository receipts issued by overseas issuers of overseas basic securities and depository receipts issued by domestic enterprises abroad. The measures encourage RMB to be used for cross-border collection and cross-border RMB settlement through the RMB Cross-border Payment System (CIPS).
Effective Date: May 27, 2019
Keywords: Asia Pacific, China, Banking, Securities, Depository Receipts, Cross-Border Funds, SAFE, PBC
Previous ArticleIMF Managing Director Christine Lagarde Nominated as ECB President
The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.
The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.
The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.
The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.
The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).
The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.
The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).
The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.