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
Banks say they are less than three years from deploying blockchain, but making the most of the technology depends on different institutions finding common ground.
Financial organisations have voiced concerns about proposed changes to Basel III, including changing the way notional pooling is treated, and treasurers are rightly concerned.
*China outlines reserves rule for foreign bank FX trading
*GMFA objects to proposed Basel III revisions on cash pooling
*Singapore confirms steps against financial cybercrime
The Reserve Bank of India has further pushed its plan to get the whole country’s payment and settlement system onto an electronic platform. But the plan, called Vision 2018, does not oblige companies to comply.