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.
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.
The ruling on a critical dispute between metals trading firm Mercuria and Citi has been posted on the UK High Court's commercial list. The long-awaited decision will be publicly available today at 2:00pm BST.
Surveys show 74% of corporates with renminbi exposures cite CIPS delays as their most important regulatory concern, while others identify deregulation.
Corporates in Indonesia are concerned over new Bank Indonesia rules designed to limit exposures to foreign debt, calling one particular provision “ridiculous”.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.