Although sections of the market seek an extension to the date for phasing out Libor, treasury officials, bankers and lawyers say they are working under the assumption there won’t be any delays.
Where does Libor live in a bank? Why are banks in Asia not looking at Libor transition seriously? Which bank is racing ahead? It’s been an interesting couple of weeks for Libor transition watchers.
If traditional industries are the ground troops in the looming conflict, cross-border e-commerce platform Youkeshu is China’s militia. Its CFO talks trade warfare, hedging strategy and bank relationships.
In one month, China’s foreign exchange regulator has fined 48 corporates, banks and individuals. European chemistry giant Solvay, as well as HSBC, are on the list.
China’s leading optical device manufacturer has seen the equivalent of $29 million wiped out on the back of the renminbi’s devaluation. Meanwhile, the PBoC’s latest move is adding to its pain.
As trade tensions deepen, charting a path through increasingly desynchronised economies is becoming more difficult. Citi’s lead Asia economist tells CT what treasurers need to prepare for.
Treasurers tell CT what a return to the reserve requirement on forward trading – which puts the brakes on renminbi-US dollar forwards – will mean for their operations.
Money market funds have so far failed to find favour with treasurers, except in China. A new product in Hong Kong could change all that – if high fees don't get in the way.
China has been pushing for more Panda issuance, and a Hong Kong-listed water supply company has delivered despite not holding the top credit rating. It explains how and why.