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.
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: Singapore Airline's new FX payments facility; Toyota's new derivatives reporting platform; and LyondellBasell Industries' cash management solution.
StanChart and Baoxin Group; HSBC and Saint-Gobain; and Citi and Roche have announced new cash programmes relating to pooling and netting in the Shanghai free trade zone following central bank clarifications.
ANZ has hired Gresham Computing to help launch a new cash management suite. It's only available in Australia but the bank hopes to roll it out to Asia-Pacific clients within a year.