*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
Hong Kong’s dependence on Chinese tourism has left the city-state’s retailers highly exposed to an economic downturn. But there are ways treasurers can cope.
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.
HSBC has promoted Kee Joo Wong tohead of payments and cash management for Asia-Pacific. He replaces John Laurens, who took up the top transaction role at DBS.