In an effort to reduce reliance on US dollars, Southeast Asian neighbours launch new framework to facilitate corporate access to all three currencies in their local market
Bank Indonesia governor pledges to reduce reserve burden for Islamic banks and those holding foreign currency deposits, in move to reduce the impact of US rate hikes.
*Chongqing and Singapore to seal deals worth $1.6 bln under third X-border initiative
*Indonesia eyes CCP establishment for derivatives by 2018
*China eases FTZ investment rules
Bank Indonesia plans to allow major lenders to offer call spreads to firms that need to hedge currency risks, a move that could cut hedging costs in half for some firms.
Vietnam Bank for Agriculture and Rural Development has signed up for Swift’s Know Your Customer (KYC) Registry. Similar initiatives could help treasurers get onboarded with banks faster.