High scores in the banking regulator’s benchmarking exercise are vital if an IHB is to win approval to expand its range of services. CT spoke to an SOE treasurer on how the process works.
The new renminbi basket has a lower weighting for the US dollar, but the new fix and spot rates against the dollar could mean greater volatility, analysts warn.
Singapore’s tax authority rolls out new rules on transfer pricing reporting. Multinationals will have to invest in people and resources to ensure they are compliant.
*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
China has given some conditional lifting to its suspension of net capital outflows from the cross-border renminbi cash pools in the country. But the criteria for firms eligible for the relaxation remain unclear.
To help China-based treasurers better manage group liquidity, CT provides a full guide to different cash pool structures available in the country, along with their merits and pitfalls.
China’s tax reforms may not reduce tax burdens on popular cash pools, and might even increase costs. The traditional zero-balance cash pool structure specifically suffers.