When “know your client” rules for correspondent banking went live, banks responded by exiting countries and products en-masse. New onboarding and database tools should help to reverse this worrying trend.
The HKMA scraps renminbi clearing bank requirements for repo transactions; Korean regulator promises lower foreign bank barriers; Safe reforms foriegn debt policies for non-Chinese MNCs.
Philippines finance minister Cesar V. Purisima and delegates at CT’s recent event in Manila outlined strategies for growth in the country and how companies will benefit.
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.
Sonal Priyanka has been hired away from BAML as Societe Generale’s new regional head of trade for global transaction banking Southeast Asia, India, and Middle East.
Singapore's MAS pushes renminbi liquidity measures and cooperation with China's PBOC; The Philippine' senate has approved a bill allowing 60% foreign bank ownership; Vietnam's central bank proposes fees for cash ...