BRIEF-Emergent Capital announces supplement no. 1 to exchange offer
* Emergent Capital announces supplement no. 1 to exchange offer Source text for Eikon: Further company coverage:
HONG KONG Feb 6 JPMorgan Chase & Co < JPM.N> said on Monday it had received approval and licence to underwrite corporate bonds in China's interbank bond market, making it the first U.S.-headquartered bank to do so.
The licence enables JPMorgan to underwrite debt financing instruments issued by non-financial entities, including commercial papers, medium-term notes and other instruments approved by regulators, it said.
The licence was granted by the National Association of Financial Market Institutional Investors (NAFMII), which oversees the Chinese interbank bond market, said a statement issued by JPMorgan.
China is the third largest bond market in the world with 43.7 trillion yuan ($6.37 trillion) outstanding at the end of 2016 with the interbank bond market accounting for over 90 percent, according to China Central Depository & Clearing Co.
In September last year, JPMorgan was granted a business licence to operate a fully owned fund management business in China, allowing it to set up an office in Shanghai free-trade zone.
($1 = 6.8615 Chinese yuan renminbi) (Reporting by Sumeet Chatterjee; Editing by Vyas Mohan)
RIO DE JANEIRO/BRASILIA, May 26 Maria Silvia Bastos resigned on Friday as head of Brazil's development bank BNDES amid a political crisis that had increased pressure against her by credit-starved business leaders.