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  • Westpac MNI China Consumer Sentiment Indicator Rebounds - Improvement In Consumer Confidence Broad-Based

    Date 04/01/2017

    Consumer sentiment improved in December, led by a bounce-back in consumers‘ optimism about their expected personal finances which offset a pullback in durable buying conditions.

  • Shenzhen Stock Exchange Market Overview 2017, Issue 1

    Date 04/01/2017

    Recently, China Financial Futures Exchange (CFFEX), Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), Pak China Investment Company Limited and Habib Bank Limited as a consortium have won the bid to purchase a 40% stake in the Pakistan Stock Exchange. The three exchanges will hold 30% of Pakistan Stock Exchange’s shares. The investment is conducive to broadening of the economic and financial cooperation between the two countries and facilitates the implementation of the Initiatives of One Belt One Road and China-Pakistan Economic Corridor. The investment puts new contents in the traditional friendship between China and Pakistan. Under the premise of controllable risks, the Consortium will implement the follow-up of equity acquisition in line with the principle of equality, cooperation, mutual benefit and win-win situation.

  • Office Of The Comptroller Of The Currency Bulletin: Industrial And Commercial Metals: Final Rule

    Date 03/01/2017

    Summary

    The Office of the Comptroller of the Currency (OCC) has issued a final rule prohibiting national banks and federal savings associations (FSA) from dealing or investing in “industrial or commercial metal.” Under the final rule, the term “industrial or commercial metal” means metal (including an alloy) in a physical form primarily suited to industrial or commercial use, for example, copper cathodes. The effective date of the final rule is April 1, 2017. The final rule includes a divestiture period, which provides that national banks and FSAs must dispose of industrial or commercial metal acquired through dealing or investing activities as soon as practicable, but not later than five years from the effective date.1 The final rule supersedes a prior OCC interpretation which permitted national banks to trade copper.2

  • Statement Of CFTC Chairman Timothy Massad On His Resignation As Chairman

    Date 03/01/2017

    “For the past two and a half years, I’ve had the privilege of working alongside the very talented CFTC staff, and I thank them for their dedication on behalf of the American people. I also want to express my appreciation to my fellow Commissioners, Sharon Bowen and Chris Giancarlo, for the constructive and collaborative engagement we have had throughout my tenure. I am also very grateful to President Obama for giving me the opportunity to lead this important agency."

  • FIA: Lukken Thanks CFTC Chairman Tim Massad For His Service

    Date 03/01/2017

    Upon the announcement that Commodity Futures Trading Commission (CFTC) Chairman Tim Massad will step down on January 20, FIA president and CEO Walt Lukken released the following statement thanking him for his service to the industry:

    “Chairman Massad has provided steady leadership at the CFTC, characterized by his thoughtful approach to policymaking. He made it a priority to speak with industry members to gain insights and gather feedback on key issues. In particular, he made strides in the efficient and effective cross-border harmonization of regulatory initiatives. Our industry appreciates that he has been a strong advocate for client clearing in both CFTC rules and in regards to the Basel Committee’s treatment of initial margin in the leverage ratio capital requirements. We thank him for his service to our industry and the public.”