RED TAPE ROUNDUP: China forces banks to offload corp bonds; India expands CDS participation; India and Taiwan set out Basel III timetable

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RED TAPE ROUNDUP: China forces banks to offload corp bonds; India expands CDS participation; India and Taiwan set out Basel III timetable

May 04, 2012

From Lorraine Cushnie

In this round up of recent regulatory news, China forces banks to sell corporate bond holdings, India relaxes rules on credit default swaps and sets up new rules for hedge funds, the Islamic Financial Services Board publishes guidelines on liquidity and stress testing and India and Taiwan set out a deadline for its banks to meet Basel III requirements.

China

The China Banking Regulatory Commission (CBRC) is set to introduce new rules in which banks will only be able to invest in up to 20% of any single corporate bond which they have underwritten, according to reports.

Banks will...

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SOUTHEAST ASIA DCM

Rank

Bookrunner Parents

Deal Value $ (Proceeds) (m)

No.

%share

2012 YTD Rank

Standard Chartered Bank

3,991

8.9

HSBC

3,710

8.3

Goldman Sachs

3,333

7.4

Deutsche Bank

2,895

6.4

Citi

2,774

6.2

JPMorgan

2,288

5.1

DBS

2,106

4.7

Siam Commercial Bank

1,835

4.1

Barclays

1,586

3.5

CIMB Group

1,523

3.4

Subtotal

26,040

123

57.9

Total

44,958

212

100.0

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Korean credit rating agencies overrated – opinion

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Too much of a good thing for the Philippines – opinion

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