Swift has recently published research providing up-to-date details on those running bank payment obligations. At present, 25 corporates are involved in live transactions.
RBS and Bank of China announced their first commodity transaction using the Bolero electronic trade finance platform, following deals executed by Japan’s Mizuho Bank in March and China CITIC Bank last November.
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.