Compliance professionals were treated to a series of engaging talks on topics such as Myanmar sanctions and anti-corruption efforts at the 5th Annual Compliance Summit North Asia.
*China outlines debt-for-equity swap plan
*Hong Kong to set up financial enforcement teams
*Basel Committee reports progress in finalising global regulatory framework
Long the tool of choice in trade finance, fewer companies are using a letter of credit for its traditional purpose – but don't expect LCs to disappear any time soon.
*CFETS announces list of participants allowed in interbank RMB trading
*China issues rules to clean up P2P lending
*MAS proposes National Payment Council
*RBI announces rules on group exposure framework
Rajesh Mehta will be Citigroup's new head of treasury and trade solutions for Asia Pacific, with Matthew Frohling becoming APAC regional trade sales head for TTS.
*RMB-KRW direct trade starts
*Hong Kong launches RMB indices
*China and Russia ink RMB clearing deal
*Singapore to include RMB in Official Foreign Reserves
China suspends registry of all financial related companies; China to legislate credit law to crack down on defaults; CBRC asks banks to inspect bills of exchange; Taiwan ups ante on FX clearing; Japan FSA and CPAAOB ...
The deal between the two payments systems could improve corporates' ability to manage renminbi, their relationships with suppliers, and lower the cost of renminbi transactions, market experts claim.