Loan repurchases keeping Japanese mortgage-backed security defaults at bay: Moody’s

Last modified July 20, 2020. Published July 20, 2020.
Residential mortgage-backed securities in Japan have been insulated from the pandemic-related economic downturn by an uptick in repurchases, particularly among more troubled loans.

UK proposes crypto asset regulation and expanded financial products protections

July 20, 2020.
The U.K. government may begin to regulate the promotion of cryptoassets for the first time and tighten its restrictions on the promotion of financial products from unauthorized firms, according to new proposals released Monday.

Morgan Stanley to reveal emissions data as carbon accounting standard-setter

July 20, 2020.
Morgan Stanley has become the first major U.S. bank to commit to disclosing the climate impact of its lending portfolio, as financial institutions globally face increasing pressure to account for their environmental impact.

Munich Re abandons share buybacks as it faces EUR 700M of COVID-19 losses

July 20, 2020.
Munich Re said Monday that it is ditching a suspended share buyback program, as it suffered EUR 700 million ($800.9 million) of pandemic-related losses in its reinsurance business in the second quarter of 2020.

eBay to expand managed payments following end of PayPal deal

July 20, 2020.
eBay said on Monday that it will expand its end-to-end marketplace managed payments service globally following the expiration of its operating agreement with PayPal.

India plans to again privatize majority of state-owned banks: Reuters

Last modified September 4, 2020. Published July 20, 2020.
India’s government is drafting a plan to reduce the number of state-owned banks to just a handful as part of a wider bid to sell off public-sector enterprises and raise funds amid the COVID-19 pandemic, Reuters reported Monday.

Blackstone’s Strategic Partners gets $3.75B for third infrastructure fund

July 20, 2020.
Blackstone’s Strategic Partners Fund Solutions unit said Monday that it closed on its third infrastructure secondaries fund at $3.75 billion.

Deutsche Bank premieres first client-facing AI bot

July 20, 2020.
Deutsche Bank said Monday it debuted a new artificial intelligence bot that will assist the clients of its corporate bank division in China in handling reports and customer inquiries.

Swiss Re hires CEO for iptiQ as it disbands life capital business

July 20, 2020.
Swiss Re said Monday that it hired veteran sales executive Carlo Bewersdorf for the newly created position of CEO of its digital insurance platform iptiQ, which is in the process of being turned into an independent division within the company.

Mastercard taps Wirex as inaugural native crypto-platform card issuer

July 20, 2020.
Mastercard made a big play on Monday for the growing number of consumers interested in digital currencies.

Jamaica begins pursuit of central bank digital currency, requests proposals

Last modified July 20, 2020. Published July 20, 2020.
The Bank of Jamaica invited developers to submit proposals for a central bank digital currency on Sunday, making the island nation the latest in a rapidly growing number of countries to take a step toward adopting a digital alternative to cash.

BNY Mellon’s Pershing taps former Goldman Sachs leader as COO

July 20, 2020.
Bank of New York Mellon subsidiary Pershing has named Emily Schlosser as its new chief operating officer, the New Jersey-based company said Monday, bringing a former Goldman Sachs managing director into Pershing’s fold.

Goldman Sachs executives in Malaysia to resume 1MDB talks

July 20, 2020.
Senior representatives of Goldman Sachs are in Malaysia this week to resume negotiations with the government over a financial settlement for the 1Malaysia Development Berhad scandal, Malaysia’s finance minister said on Monday.

Regulatory relief inflates European banks’ reported leverage ratios: Moody’s

July 20, 2020.
Adjustments by the European Central Bank in calculating leverage ratios has made European banks appear more solvent than they actually are, according to a report from Moody’s published Monday.

Regulator seeks to calm Hong Kong firms as banks increase client scrutiny

July 20, 2020.
Hong Kong’s capital markets regulator said Sunday that it doesn’t expect China’s new national security law to impact how financial institutions do business in the city, even as reports emerge that banks are increasing scrutiny of clients in response to the statute.

Chinese fintech Ant Group plans dual Hong Kong-Shanghai IPO

July 20, 2020.
Chinese fintech Ant Group, which is controlled by Alibaba Group co-founder Jack Ma, said on Monday that it will have an initial public offering in both Hong Kong and Shanghai.

Australia extends COVID-19 relief for small businesses through June 2021

July 20, 2020.
Small and medium-sized businesses in Australia will be eligible for loans to help them through the coronavirus pandemic for at least another year, with the maximum loan they can receive quadrupled, the government said Monday.

Standard Chartered to launch new center in China with 1,600 staffers

July 20, 2020.
Standard Chartered is deepening its ties to China with plans to invest HKD 310 million ($40 million) to set up a new center in Guangzhou, as Beijing aims to transform the coastal Greater Bay Area region into an international financial hub.

Ukraine central bank will maintain independence, continue rate cuts, new governor says

July 20, 2020.
Seeking to put worried investors at ease, Ukraine’s new central bank governor said Monday that the institution will remain politically independent, push ahead with interest rate cuts and maintain cooperation with international financial organizations.

RBS tells ‘vast majority’ of staff to work from home until 2021 despite easing restrictions

July 20, 2020.
Royal Bank of Scotland on Monday told employees that a “vast majority” of them will not have to return to the office until next year, even as the U.K. government prepares to ease mandatory workplace restrictions to curb COVID-19 next month.