Working with RBS, Sonepar has successfully implemented a cross-border renminbi cash pooling structure within the Shanghai free trade zone. The first sweep was completed from Hong kong to Shanghai.
CT's Working Capital Chronicle has been updated. New deals include: Trafigura's revolving credit facility; Hyva's RMB interco. loan; ExxonMobil's electronic trade finance strategy.
Bank Indonesia is planning to changes its existing definition of deposit in a bid to cool off an interest rate war in the country and increase bank liquidity.