By Reuters Staff
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BEIJING (Reuters) - China’s financial technology companies are expected to meet capital adequacy requirements within a maximum of two years, said Guo Shuqing, head of the China Banking and Insurance Regulatory Commission (CBIRC) on Tuesday.
FILE PHOTO: China s top banking regulator Guo Shuqing speaks to reporters on the sidelines of the National People s Congress (NPC) at the Great Hall of the People in Beijing, China, March 5, 2019. REUTERS/Thomas Peter
Micro lenders, consumer finance firms and banks operated by internet platforms should all have adequate capital like other financial institutions, Guo said at a news conference.
Wall Street's S&P 500 index ended lower on Tuesday and a gauge of global equities was close to flat as investors awaited the Federal Reserve and other central banks meetings this week, where regulators will indicate if they will retain policies supporting a post-pandemic.
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(Reuters) - U.S. companies are opting to issue bonds with fixed coupons rather than floating rates as the spectre of a rapid rise in yields impels them to lock in their costs of borrowing.
FILE PHOTO: U.S. flags fly out in front of the New York Stock Exchange (NYSE) is seen in New York, U.S., February 16, 2021. REUTERS/Brendan McDermid
Refinitiv data showed U.S. companies have issued $456 billion through fixed-coupon bonds until March 15, a 12% increase over the same period last year.
At the same time, they have borrowed just $77 billion through floating-rate bonds in that period, a 33% decline.
The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state's grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state's power market.
Investors have nudged their cash allocations higher, suggesting a slight increase in concerns that inflation and "taper tantrums" could topple a record rally in financial markets, BofA's March fund manager survey showed on Tuesday.