The Bank of Canada has reduced the target for the overnight interest rate to its lowest ever level. At the same time, the Bank has announced other measures aimed to assist in providing a floor for the overnight rate and a ceiling for the Bank Rate so that the functioning of the credit markets is not impaired. Read more.

Banks have been unable to offer financial car leasing to consumers for the last 30 years. As other sources of lease financing have become severely restricted, the federal government is contemplating allowing banks to lease cars to consumers and has released a consultation paper seeking the views of stakeholders on this. Read more.

The Bank of Canada has outlined its monetary policy approach while the overnight interest rate is at its effective lower bound (0.25%). This new monetary policy framework allows for the possibility that additional stimulus could be provided through quantitative easing or credit easing. Read more.

Onerous disclosure and reporting requirements for listing on the Tokyo Stock Exchange have been held largely to blame for a fall in the number of foreign companies listing on it in recent years. To address this, a new streamlined exchange based on London's AIM is being established. Its key features are discussed here. Read more.

The Japanese government has submitted a bill to the Diet to amend the Financial Instruments and Exchange Law of Japan. The main provisions of the Amendment Bill are outlined here. Read more.

Amendments to the Banking Act have removed uncertainties faced by foreign banks with regard to operating branches and conducting business in Japan. These amendments have created new opportunities for foreign banks to expand their businesses in Japan. Read more.

A draft law to improve the legal framework for combating use of insider information and market manipulation has been adopted in its first reading before the State Duma. Read more.

The Central Bank has issued a directive gradually increasing the reserve fund amounts that Russian credit organisations are required to deposit with it. The amount will rise incrementally over the next four months. Read more.

The Central Bank has issued a directive decreasing the refinancing rate from 13% to 12.5%, with effect from 24 April 2009. Read more.

From 26 April 2009, all commercial entities will be entitled to act as financial agents under factoring agreements, without requiring a licence. Read more.

The State Duma has adopted in first reading a draft law under which the Russian Government will be required to submit quarterly reports to the State Duma on the implementation of measures taken to counter the economic crisis. Read more.

Market disruption clauses may result in the exchange of commercially sensitive information between lenders, potentially leading to co-ordinated and anti-competitive behaviour. This article explains what actions syndicate lenders can take to minimise this risk. Read more.

As figures reveal a substantial increase in trade credit insurance claims over the past year, the ABI seeks to formalise the understanding between insured companies and insurers of how credit risks should be managed and what policyholders can expect from credit insurers. Read more.

This article looks at two recent publications from the Pensions Regulator, outlining the approach it intends to take to regulating given the current market conditions and highlighting potential risks in running pensions schemes and working through these with the community. Read more.

The UK Treasury has launched a funding unit to provide finance for PFI projects where it is otherwise not available because of the current disruption to the credit markets. This article looks at some of the key features of the scheme. Read more.

With the Temporary Guarantee Program for Money Market Funds (which supports such funds against the risk of sudden increases in redemptions) due to expire in September, US regulators and the industry are looking for a framework under which the funds can smoothly transition out of the insurance programme without again panicking investors. This article explores some of the reform proposals. Read more.

The new section 457A of the Internal Revenue Code aims to limit deferrals of compensation by US taxpayers used by "tax indifferent" entities. Corporations have until 1 July 2009 to take advantage of a limited transition rule that may reduce the impact of section 457A on existing deferral plans. This article looks at the application of the new rule. Read more.

As the Third Circuit Court of Appeals holds a bankrupt company's strategic partner to be an "insider" within the meaning of the Bankruptcy Code, entities with close commercial or financial relationships will need to look again at their strategies for managing preference risk. Read more.

The tax provisions of ARRA extended and enhanced currently available production tax credits for renewable energy projects to encourage investment in them. This article examines these benefits included in ARRA, particularly in relation to partnerships and leases. Read more.