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.
As cash-strapped banks offer high rates for long-term deposits, a wise treasurer tell CT he's sticking to one-month deposits. After all, rates can only go up as liquidity is squeezed further.
From today Chinese financial institutions no longer have to set aside 20 per cent of the value of dollar purchases. For treasurers, that means lower costs and an opportunity to hedge.
Having just completed a bank guarantee via blockchain, the CFO of the company behind Australia's Westfield malls tells CT what’s needed to get the distributed ledger into the mainstream.
The Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) both announced plans that could further open up the marketplace for offshore renminbi in Hong Kong.