MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: EUROZONE JUL FLASH MANUFACTURING PMI 45.6 (FCST 46.1); JUN 45.8

Weaker-than-expected July Flash PMI Helps Bunds To Intraday Highs

MNI: GERMANY JUL FLASH MANUFACTURING PMI 42.6  (FCST 44.0); JUN 43.5

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Biden Calls For Tougher Mid-Size Bank Regulations

US
  • President Biden confirms his administration is calling on regulators to tighten rules for mid-sized banks, including reinstating rules for banks with assets between $100-250B.
  • It should include liquidity requirements and enhanced liquidity stress testing, annual supervisory capital stress tests, comprehensive resolution plans, a reduction in transition periods to growing banks that are projected to exceed the USD100 billion threshold, and expanding long-term debt requirements to a broader range of banks. Each of the reforms can be accomplished under existing law, according to a White House fact sheet.
  • Market reaction is limited following yesterday’s WaPo article. The KBW banking index is little changed at -1.6% on the day, the regional banking index drifting off session lows but still -1.9%.
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