Clifford Chance
NAFMII Upgraded Rules for Credit Derivatives
30 September 2016
First introduced in 2010, China's credit derivatives market has remained nascent in the past few years. While western markets have focused on standardizing credit derivatives following the Global Financial Crisis, China sees greater demand in developing a well-functioned credit derivatives market to which increasing credit risks associated with financing transactions could be allocated.
On 23 September 2016, the National Association of Financial Market Institutional Investors (NAFMII) amended and reissued the Rules for the Pilot Programme of Credit Risk Mitigation Instruments in the Inter-bank Market (Revised Rules), aiming to further develop China's credit derivatives market.
