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.
Basel III proposals requiring banks to report intra-day liquidity will severely stifle correspondent relationships, but the infrastructure could be valuable to companies.
CT's Working Capital Chronicle has been updated. New deals include: Singapore Airline's new FX payments facility; Toyota's new derivatives reporting platform; and LyondellBasell Industries' cash management solution.
Swift’s monthly renminbi tracker has shown the Chinese currency to rank in the top ten most used currencies for international payments three months running.
StanChart and Baoxin Group; HSBC and Saint-Gobain; and Citi and Roche have announced new cash programmes relating to pooling and netting in the Shanghai free trade zone following central bank clarifications.
Swift and the Thai government will speed up transactions and make it easier for the country to connect to its ASEAN neighbours by implementing the newest bank messaging standards.
The Singapore Stock Exchange is pushing the use of ISO20022 messaging format actions for corporate announcements. The general response from smaller companies has been muted at best, however.
