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.
CT's Working Capital Chronicle has been updated. New deals include: Singapore Airline's new FX payments facility; Toyota's new derivatives reporting platform; and LyondellBasell Industries' cash management solution.
Banks disagree on the foreign exchange implications of the PBOC’s announcement of a wider renminbi trading band, but advise SMEs to switch to invoicing in renminbi.
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.