For use in Islamic hedging transactions, new FX forwards standards have been created that prevent the need for financial institutions to use up their balance sheet.
The Supreme Court of the Philippines suspended a Bureau of Internal Revenue regulation requiring increased disclosure in the country; The Reserve Bank of India revised regulations to increase credit in the Indian financial system; Chinese and Hong Kong exchange companies released details of stock link.
China now allows more banks to qualify to sell renminbi and FX derivatives, giving Chinese corporates more hedging products as demand grows following RMB rates liberalisation.
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