High scores in the banking regulator’s benchmarking exercise are vital if an IHB is to win approval to expand its range of services. CT spoke to an SOE treasurer on how the process works.
*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
To help China-based treasurers better manage group liquidity, CT provides a full guide to different cash pool structures available in the country, along with their merits and pitfalls.
China’s tax reforms may not reduce tax burdens on popular cash pools, and might even increase costs. The traditional zero-balance cash pool structure specifically suffers.
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.
Siemens, Alibaba, Huawei and ZTE are all in the second batch of SAFE’s pilot for cross-border FX cash sweeping, netting and centralised payments transactions, CT has learnt.
J.P. Morgan has provided its clients with advice on how to get the green light from the People’s Bank of China (PBOC) to conduct a cross-border renminbi intercompany loan. Here is a précis of the guidance:
CT has established an interactive treasury webcast service. With access to exclusive, upcoming interactive events, treasurers can watch and listen in live or download the archive of webcasts at a convenient time.