*Korea to allow securities firms to raise more funds for corporate financing
*ASX opens RMB-denominated securities clearing
*HKMA promotes bank liquidity with new ratio
*China outlines reserves rule for foreign bank FX trading
*GMFA objects to proposed Basel III revisions on cash pooling
*Singapore confirms steps against financial cybercrime
*Safe lifts time restrictions on converting renminbi
*Malaysia and Australia combine for fintech
*Malaysia introduces new method for USD/MYR spot fixing
*FASB announces accounting rule update
To help China-based treasurers better manage group liquidity, CT provides a full guide to different cash pool structures available in the country, along with their merits and pitfalls.
*Safe regulates capital outflow for inter-bank bond investment
*Thailand plans reporting exemptions for foreign issuers
*CFTC adopts X-border approach for uncleared swaps
*Indonesia moves to full IFRS convergence
China’s tax reforms may not reduce tax burdens on popular cash pools, and might even increase costs. The traditional zero-balance cash pool structure specifically suffers.
As the deadline for the first tax filing under China’s new indirect tax system draws near, CT pinpoints the key challenges for businesses effected in China.