Pacific Andes, once the world's biggest fish filleter, suspected by New York bankruptcy trustee of using cash raised to buy fish to fund $800 million takeover. The group denies the claim.
*Singapore and Korea team up on fintech
*CFTC proposal offers comfort to non-US entities
*Philippine SEC to regulate shadow banking lending rates
*FASB updates rules on intra-entity asset transfer
*China opens interbank money market to foreign FIs
*OECD finalising BEPS multilateral instrument
*PBoC appoints RMB clearing banks in US, Russia
*China begins direct trading of RMB, Saudi riyal and UAE dirham
*CFETS announces list of participants allowed in interbank RMB trading
*China issues rules to clean up P2P lending
*MAS proposes National Payment Council
*RBI announces rules on group exposure framework
*China tax bureau outlines new rules for export tax rebates
*Singapore sets out new guidelines for outsourcing risk management to FIs
*MAS recognises innovation in fintech
The US lender is looking to increase its wallet share among Asia-based multinational corporate clients. Munir Nanji, Asia sales head for treasury and trade solutions at Citi, tells CT how.
*China outlines reserves rule for foreign bank FX trading
*GMFA objects to proposed Basel III revisions on cash pooling
*Singapore confirms steps against financial cybercrime
*RMB-KRW direct trade starts
*Hong Kong launches RMB indices
*China and Russia ink RMB clearing deal
*Singapore to include RMB in Official Foreign Reserves