Over the past week, the 7-day interest rates dropped to 2.2%, as low as the rate at beginning of this year; while the 10-year yield curve rates rose to 3.2%, hitting a new high for 2019. Rising risk-free rates reflect the change of market expectation...
According to the 21st Century Economics website, China's National Inter-bank Funding Center has issued a detailed implementing ruling for disposing of defaulted obligations through repurchase approved by the PBOC on 17 June 2019. The ruling applies when a repurchasing-purchaser triggers an event of default in a...
由北京市人民政府主办的“2019金融街论坛年会”于5月29日-30日在北京举行。主题为：深化金融供给侧结构性改革，推动经济高质量发展。 中国人民银行行长易纲表示，继5月15号人民银行对千余家县域金融机构降低存款准备金率后，6月17日和7月15号将进行第二、第三次定向降准，总计将释放3000亿资金。中国证券业协会副会长孟宥慈表示证券法修订案的第三稿已经正式公开征求意见，有望为资本市场和证券行业的高质量发展进一步提供法律和制度的保障。 The main theme of the Annual Conference of Financial Street Forum 2019 (Beijing, May 29-30) was Deepening Financial Supply-side Structural Reform and Promoting High-quality Economic Development. People's Bank of China (PBOC) president Yi Gang [https://en.wikipedia.org/wiki/Yi_Gang] announced a total stimulus of 300 BN Yuan. On May 15,...
Who the heck still makes sauerkraut? Actually I do, after being seduced by some handsome ceramic crocks made in Poland and advertised on a chef’s website. “Think of the experimental possibilities!!” I bought one 5L pot and then another, and then a 10L pot. It seems...
Authors: Ann Rutledge (CSC); Wang Huan (汪欢，夏门国金), Chen Bolin (陈伯霖，夏门国金); Bolun Deng (CSC); Nancy Jiang (CSC), Amber Chen (CSC) Bond Connect (债券通) opened for business July 3, 2017. If you're like us, you've read about it dozens of times but still may not have a clear...
How would you finish the title? (A) Crooks; (B) Communists; (C) Securitizations. Securitization, my area of specialization, would not come to my mind first. But it's a quote from The End of Finance (2009, p. 88) by Massimo Amato/Luca Fantacci, both on the faculty of...
On July 28, the IMF’s 2017 External Sector Report reported China’s economy is on a steady course for the fourth year in a row. While the report pointed out China’s need for fiscal and credit tightening over the next few years, it declared China’s real exchange rate...
Following Moody's settlement with the Department of Justice in late 2016, two new research pieces by economists and new blogs by ratings experts have come out with warnings that the causes of the financial crisis of 2007 have not been addressed. All have merit. None...
I've thought about this a lot. The more I contemplate the challenges of implementing a fair and effective system of capital regulation for credit risk, the more I appreciate its impossibility.First, a fair and effective system of capital regulation for credit risk involves the measurement...
When China published “Some Measures to Expand China’s Openness and Aggressively Utilize Foreign Investment Capital,” a lightbulb went on in my head: China finally “gets” the limits of financial engineering and will return to first principles. Deng Xiaoping is still the name most closely associated with...