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May 14, 2026: India, Philippines and Indonesia FX Reserves Down About $54 Billion Since Late February
Data cited by Bloomberg and official central-bank releases show foreign-exchange reserves in India, the Philippines and Indonesia fell by roughly $54 billion between late February and mid-May 2026. The declines reflected currency-support operations, external debt payments and valuation changes in non-dollar reserve assets.
Central Banks & Policy · 12 days agoIndia Tells Banks to Accelerate NRI FX Deposit Mobilisation Under RBI Swap Windows Amid Rupee Pressure
Finance Minister Nirmala Sitharaman on July 13 reviewed progress on FCNR(B), ECB and OFCB swap schemes and directed banks to step up outreach in key overseas markets, use GIFT City banking units and follow RBI’s daily reporting framework. FCNR(B) deposits are eligible through Sept. 30, 2026, and ECB and OFCB windows through Dec. 31, 2026.
Energy & Commodities · 12 days agoEU imports from Russia's Yamal LNG hit record 9.97 million tons in January-June 2026
Kpler data showed EU countries received 136 cargoes from the Yamal LNG export facility in January-June 2026, totaling 9.97 million metric tons, about 16% more than a year earlier. France, Belgium and Spain were the main destinations as the EU implemented staged limits on Russian gas, including restrictions on short-term LNG imports and transshipment.
Finance & Banking · 12 days agoChina orders domestic raters to revisit AAA bond grades under new spread-based review
PBOC-led regulators told domestic agencies to reassess highly rated issuers using updated standards that include issuance spreads over comparable government bonds, with spreads above 200 basis points as a downgrade trigger. By June 26, 28 downgrades had been recorded in 2026 versus nine in 2025, while more than 220 issuers stopped seeking ratings.
Central Banks & Policy · 12 days agoS&P Keeps Indonesia at BBB/Stable as BI Expects Support for Government Bonds
S&P affirmed Indonesia at BBB/A-2 with a stable outlook on July 13, saying weaker fiscal and external metrics should be temporary as revenue and export receipts recover and the 3% deficit ceiling remains a policy anchor. Bank Indonesia said the decision could support confidence after recent market and rupiah volatility.
Central Banks & Policy · 18 days agoJapan 10-Year JGB Yield Hits 2.83%, Highest Since 1996, Amid Fiscal Policy Concerns
Market attention centered on a draft government blueprint that called for monetary policy to align with growth strategy and omitted language on improving fiscal health. Economy Minister Minoru Kiuchi said policy decisions remain the Bank of Japan’s responsibility and said the government is not abandoning fiscal discipline.
Markets · 18 days agoS&P DJI puts Indonesia on 2027 watchlist, cites possible move from emerging to special measures or frontier
In a July 7 country-classification update, S&P Dow Jones Indices kept Indonesia classified as emerging while placing it on its 2027 watchlist for regulatory developments linked to stock-ownership transparency. It said worsening conditions could prompt special treatment for Indonesian securities, with classification assessed in a later annual review if issues remain unresolved.
Central Banks & Policy · 18 days agoChina lifts Southbound Bond Connect quota to RMB800 billion, broadens Hong Kong bond access
Authorities in Hong Kong and Mainland China said the annual Southbound Bond Connect quota will rise to RMB800 billion from RMB500 billion, with plans for repo using southbound holdings, wider eligible products and Macao linkage. The package also adds collateral, settlement and offshore RMB liquidity measures, including a larger RMB Business Facility from July 10.
Finance & Banking · 18 days agoBoE proposes lower leverage minimum and buffer changes for UK banks
In records and papers published on 7 July 2026, the Bank of England’s Financial Policy Committee proposed removing the countercyclical leverage buffer, cutting the Tier 1 leverage minimum to 3% from 3.25%, setting systemic leverage buffers at 50% of risk-weighted equivalents, and adding a releasable 25-basis-point general buffer.
Central Banks & Policy · 20 days agoPBOC Says June Net Bond Operations Added CNY10 Billion, First-Half Total Reaches CNY300 Billion
China’s central bank said it injected a net 10 billion yuan through open-market government bond purchases and sales in June, with first-half net injections via that channel reaching 300 billion yuan. The PBOC said such operations have been conducted routinely this year, with sizes adjusted to liquidity needs and bond-market conditions.