HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
Vietnam Bank for Agriculture and Rural Development has signed up for Swift’s Know Your Customer (KYC) Registry. Similar initiatives could help treasurers get onboarded with banks faster.
A crucial court decision and improved practices around commodity assets and collateral is helping restore confidence following fraud at the Port of Qingdao
Citi failed to force Mercuria Energy to stump up $270 million, but the crucial UK High Court ruling over metals financing will provide comfort for trade finance banks in China and users of repo agreements alike.
A supplier of Apple, GTAT, claims the company told it to “put on your big boy pants” and accept an onerous supply chain finance agreement that drove the company to bankruptcy, a court was told. Experts dispute the story.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
BHP Billiton and Xiangguang Copper have transacted a first of a kind back-to-back electronic letter of credit over Bolero, shaving 20 days off a typical transaction.