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.
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.
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.
Notional cash pooling avoids the physical transfer of foreign exchange, reducing FX risk. The US tech manufacturer's Yvione Zhou explains how it works in Asia.
Hong Kong's draft rules on base erosion and profit shifting – perhaps the biggest shake-up of the corporate tax system since the 1940s – go too far, according to businesses in the city.
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.