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  • UK Chancellor Strengthens Support On Offer For Business As First Government-Backed Loans Reach Firms In Need

    Date 03/04/2020

    The Chancellor Rishi Sunak is today (Friday 3 April) taking further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies.

  • BIS: Covid-19, Cash, And The Future Of Payments

    Date 03/04/2020

    Key takeaways

    • The Covid-19 pandemic has fanned public concerns that the coronavirus could be transmitted by cash.
    • Scientific evidence suggests that the probability of transmission via banknotes is low when compared
      with other frequently-touched objects, such as credit card terminals or PIN pads.
    • To bolster trust in cash, central banks are actively communicating, urging continued acceptance of cash
      and, in some instances, sterilising or quarantining banknotes. Some encourage contactless payments.
    • Looking ahead, developments could speed up the shift toward digital payments. This could open a divide
      in access to payments instruments, which could negatively impact unbanked and older consumers. The
      pandemic may amplify calls to defend the role of cash - but also calls for central bank digital currencies.

  • Moscow Exchange: Risk Parameters Change On Derivatives Market

    Date 03/04/2020

    CCP NCC sets the following risk parameters on Derivatives market starting from 2:00 pm on April 3, 2020:

    UnderlyingCurrent market risk ratesNew market risk rates
    MR1 MR2 MR3 MR1 MR2 MR3
    1 BR 20% 25% 33% 25% 30% 38%
    2 CL 20% 25% 33% 25% 30% 38%

  • SGX’s Securities And Derivatives Markets Will Remain Open

    Date 03/04/2020

    • International and retail investors will continue to have access to SGX securities and derivatives markets
    • CDP services will continue to be available; CDP Customer Service Centre will operate on an appointment-only basis

  • Japan Financial Services Agency: Preparation For Permanent Cessation Of LIBOR

    Date 03/04/2020

    Whereas reforming interest rate benchmarks have been developed in Japan and abroad, the possibility that the London Interbank Offered Rate (LIBOR) will be permanently discontinued after the end of 2021 has been increasing. While LIBOR is mainly referenced in derivative contracts such as interest rate swaps, it is also quoted in a significant number of cash products including corporate loans and bonds. Additionally, it is used in wide range of users, including not only financial institutions but also non-financial corporate and institutional investors. In this regard, there is the possibility of disruption to users if LIBOR were ceased without sufficient preparation.