Australia extends loan deferral program; Chinese bank to raise HK$13.82B in IPO

Regulatory, monetary policy updates * The China Securities Regulatory Commission published names of 258 platforms illegally offering securities margin financing and their operators in an effort to curb stock market frenzy, Reuters reported, citing a statement from the regulator. * Meanwhile, China r...

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Bibliographic Details
Published inSNL Financial Extra
Main Author Hakim, Aimen
Format Trade Publication Article
LanguageEnglish
Published New York SNL Financial LC 10.07.2020
Subjects
Banking industry
Central banks
Equity
Monetary policy
New stock market listings
Pandemics
Regulation of financial institutions
Regulatory approval
Stock exchanges
Vietnam
South Korea
United States > US
Asia
Philippines
China
Hong Kong China
Australia
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Summary:Regulatory, monetary policy updates * The China Securities Regulatory Commission published names of 258 platforms illegally offering securities margin financing and their operators in an effort to curb stock market frenzy, Reuters reported, citing a statement from the regulator. * Meanwhile, China required individuals and corporations in the Hebei province to obtain prior approval before making large cash deposits or withdrawals at commercial banks as part of a new pilot program, The South China Morning Post reported, citing the state-backed China Securities Journal. * The Australian Prudential Regulatory Authority extended its temporary capital treatment for bank loans with repayment deferrals and temporarily adjusted the capital treatment for loans with modified or renegotiated terms. * The Central Bank of Sri Lanka reduced its standing deposit facility and the standing lending facility rates by 100 basis points each to 4.50% and 5.50%, respectively. The lender is set to debut on the Hong Kong bourse on July 16. * Alibaba Group Holding Ltd.'s financial technology arm Zhejiang Ant Financial Services Group Co. Ltd. is aiming for a valuation of more than US$200 billion from its planned IPO in Hong Kong as soon as this year, Reuters reported, citing sources. * Vietnam International Commercial Joint Stock Bank plans to list its shares on the Ho Chi Minh Stock Exchange by the end of 2020, Viet Nam News reported. * China Merchants Bank Co. Ltd. issued 50 billion yuan of undated additional Tier 1 capital bonds, which will carry a coupon rate of 3.95% for the first five years. * Nomura Holdings Inc. plans to raise US$2.5 billion by selling senior notes in two tranches. Deal corner * India's government is looking to raise up to 200 billion rupees by selling stakes in IDBI Bank Ltd. and Coal India Ltd., subject to market conditions, Bloomberg News reported, citing sources with knowledge of the matter. * Westpac Banking Corp. and private equity group Cerberus Capital Management LP are in talks for an equipment finance deal on a deferred payment basis, The Australian Financial Review reported, citing sources.