Taiwanese SMEs lost an estimated $6.6 billion in TRF (targeted redemption forwards) after the renminbi’s devaluation in 2015. The question now is who will pay back this money?
*China outlines reserves rule for foreign bank FX trading
*GMFA objects to proposed Basel III revisions on cash pooling
*Singapore confirms steps against financial cybercrime
CT takes a closer look at the Kunshan pilot programme, a cross-strait, renminbi-lending plan aimed at easing investment and renminbi cash management from Taiwan.