Banks began processing international renminbi payments through China’s new cross-border interbank payment system (Cips) sparking wide acclaim from participants.
When “know your client” rules for correspondent banking went live, banks responded by exiting countries and products en-masse. New onboarding and database tools should help to reverse this worrying trend.
BHP Billiton and Cargill have shifted an entire bulk trade and payment transaction into a first time four-corner bank payment obligation with ANZ, Westpac, and an essDocs electronic bill of lading.
Bolero and essDOCS inked their first deals on India trade and bank payment obligations (BPO), breaking new ground for the normalisation of electronic trade documents.
Reliance Industries, Aditya Birla Group, and Bharti Enterprises rushed to make a deadline to apply for bank licences in India; China's State Administration of Foreign Exchange has expanded pilots for cross-border ...
The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.
Raymond Tse, formerly on the finance and IT team with UBS, has joined AxiomSL in Singapore as its new CFO and chief operating officer for Asia-Pacific.
China and Russia sign a slew of finance and trade deals, including a Rmb150 bln swap agreement; The HKMA courts Thai renminbi business with special promotions for the Chinese currency; China's Ministry of Finance ...
The China Banking Regulatory Commission (CBRC) implemented measures to eliminate the two-tiered regulatory system between foreign and domestic banks; Hong Kong's Financial Services and Treasury will put in place ...