European banks are potentially being priced out of the notional pooling market due to International Financial Reporting Standards (IFRS) and Basel-III implementation.
Baoxin Auto has has claimed frontrunner status in the Shanghai tree trade zone (SFTZ) with foreign currency borrowing from offshore markets through HSBC.
CT's Working Capital Chronicle has been updated with new cross-border China cash management solutions from Freescale/JP Morgan, Keppel/Standard Chartered, and a commodities trading firm with HSBC.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.
StandChart and Ford remit RMB dividends; WPG Holdings and Pentair implement two-way renminbi sweeping in the SFTZ with Stanchart and Citi; Shell awards global RMB mandate to StanChart.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.