HSBC’s strategic push to Asia promises explicit investment in transaction banking platforms and lending rates set to undercut existing lenders*, but the shift will be far less substantial than presumed.
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.
BHP Billiton and Cargill have shifted an entire bulk trade and payment transaction into a first time four-corner bank payment obligation with ANZ, Westpac, and an essDocs electronic bill of lading.
Bolero and essDOCS inked their first deals on India trade and bank payment obligations (BPO), breaking new ground for the normalisation of electronic trade documents.
The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.
A supplier of Apple, GTAT, claims the company told it to “put on your big boy pants” and accept an onerous supply chain finance agreement that drove the company to bankruptcy, a court was told. Experts dispute the story.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
BHP Billiton and Xiangguang Copper have transacted a first of a kind back-to-back electronic letter of credit over Bolero, shaving 20 days off a typical transaction.
BP Petrochemicals transacted the first automated multi-bank bank payment obligation (BPO) over the last week of April for a Europe-centred transaction.