Offshore yuan is the first emerging market currency to be added to the FX settlement partnership between the two financial institutions. The pair has executed the first US dollar-to-offshore yuan settlement using DLT, according to HSBC.
Intercompany netting has been a part of the accelerated treasury digitisation story in the wake of Covid-19. GTreasury’s Renaat Ver Eecke spoke with CT about why the time was ripe to acquire Coprocess.
The regulator clarifies its relaxed rules on forwards settlement in FX and sets out several specific examples of financing needs for which treasurers can use such products to hedge.
New renminbi rules will reduce the cost and risk of hedging, to the benefit of treasurers. China’s regulator is making the changes to slow the currency’s appreciation.