In an attempt to fix naked malfeasance, the latest ticket from China’s banking regulator will keep banks on the straight and narrow. That will help higher-rated borrowers.
Taiwanese SMEs lost an estimated $6.6 billion in TRF (targeted redemption forwards) after the renminbi’s devaluation in 2015. The question now is who will pay back this money?
The unmet demand for trade finance services yawns widely reaching more than $1.6 trillion. The ICC concludes banks alone will not solve this desperate issue.