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.
In this month’s Working Capital Chronicle, HSBC was mandated as LME’s renminbi concentration bank. Meanwhile Deutsche Bank and Citi also run innovative cash deals.
As one of the world’s most important banks for treasurers pivots to Asia, CT speaks to HSBC's head of cash & payments, Kee Joo Wong about the implications for corporates.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
CT's Working Capital Chronicle has been updated. New deals include: Citi's automatic renminbi cash sweeping programme with Pentair; As well as Huawei and Honeywell's cash management solutions with Standard Chartered ...