Sibos: More Swift-China synergies to come
Volatility in renminbi has driven an increase in transactions in the currency, Swift spokespersons told a media briefing at Sibos 2015 in Singapore.
View ArticleSibos: CIPS enhances China’s connectivity with the global financial system -...
China’s newly launched Cross-border Interbank Payment System (CIPS) is set to enhance China’s connectivity with the global financial system by providing a highly efficient platform for cross-border RMB...
View ArticleSibos: Tough climb for market linkages
The successful launch of the Shanghai-Hong Kong Stock Connect last year is spurring the development of new trading links in Asia. But several obstacles stand in the path of more stock market linkages,...
View ArticleSibos: CMB signs MoU with Deutsche for Belt and Road expansion
China Merchants Bank (CMB) and Deutsche Bank signed a memorandum of understanding (MOU) on global banking services on October 12. The agreement aims to facilitate CMB’s expansion under the Belt and...
View ArticleSibos: RMB entry to SDR will smooth China capital account opening, say experts
The global financial crisis has accelerated the transition to a multipolar and multi-currency system, with the RMB being one if its new components, according to former Bank of Pakistan governor Yaseen...
View ArticleSibos: Treasurers fear for the future
Faced with an onslaught of new regulations, changing growth prospects in the region, and increasingly diversified service offering by non-banking players, the landscape for corporate treasurers in Asia...
View ArticleThe time of RMB is now, says Deutsche’s Robins
GlobalRMB spoke to senior transaction banking executives throughout the Sibos 2015 conference held in Singapore last week. A common theme emerged: the RMB is presenting massive opportunities for banks...
View ArticleCorporates hopping on FTZ train despite RMB scare
The surprise devaluation of the RMB in August surprised the markets, but banks are still seeing growing interest in the Shanghai pilot free trade zone (FTZ) as a treasury hub that can help manage local...
View ArticleSEB shifts to sweep up Scandi RMB business
Nordic companies are showing a strong willingness to adopt the renminbi for payments which is a creating an opportunity for Sweden’s SEB Paula da Silva, head of transaction services at SEB, told...
View ArticleRMB falls back to number five for payments but growth remains positive
The renminbi fell back one place to be the fifth most used currency for international payments by value, Swift said in its October 29 report.
View ArticleCIPS is fundamental to RMB internationalisation, says Deutsche’s Sehr
China’s newly launched Cross-border Interbank Payment System (CIPS) is fundamental to the internationalisation of the renminbi as it centralises liquidity and will save costs, says Marcus Sehr, global...
View ArticleCIPS vs RMB hubs: which model will prevail?
China’s cross-border interbank payment system (CIPS), launched on October 8, is revolutionising the way payments are made and received in RMB across the globe. The system is just in its first phase,...
View ArticleRMB to reach 15% of global payments, says HKMA
China is likely to see the volume of global payments denominated in RMB rise to match its weight in the global economy, according to Esmond Lee, executive director, financial infrastructure, at the...
View ArticleRMB round-up: November 27, 2015
In this round-up, ANZ launches free trade units in the Shanghai FTZ, RMB deposits drop in Macau and Taiwan, ECB and PBoC complete testing of swap line, JP Morgan starts RMB money market fund transfer...
View ArticleRMB rises to second for payments between Japan and China
The first day of December is proving to be a big one for the renminbi. Fresh on the heels of news about the currency’s inclusion in the IMF SDR basket, the renminbi is now the second most active...
View ArticleWeaker RMB will not hinder adoption, say experts
The RMB seems set to weaken further despite the IMF's decision to give the currency reserve status on November 30. However, experts agreed a weaker RMB will not stop it from gaining ground as a global...
View ArticleRMB round-up: December 11, 2015
In this round-up, RMB futures trading on international exchanges picked up in November, RMB clearing in Hong Kong picked up in the same month, ICBC is working on a Belt and Road financing venture, and...
View ArticleRMB round-up: December 18, 2015
In the last RMB round-up of 2015, HSBC became the first foreign bank to issue RMB-denominated CDs to corporates in China, Hungary plans RMB bonds in 2016 and Russian bank VTB saw a big boost to its RMB...
View ArticleCIPS stage two needed sooner than later, say experts
The October 2015 launch of the cross-border interbank payment system (CIPS) opened the door to creating a global RMB payment infrastructure. But, for now, the limited number of participants involved...
View ArticleRMB usage rises in UAE and Qatar despite devaluation
The RMB is now the most active currency used by the United Arab Emirates and Qatar for direct payments with China and Hong Kong, the latest data from the Swift shows. This is despite global expectation...
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