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  • July 11, 2014
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  1. Business - Banking & Finance - CURRENCIES

    Mainland China banks set own yuan rates for retail clients

    Posted Jul 04th 2014, 01:41am by DON WEINLAND

    ... Don Weinland don.weinland@scmp.com Beijing's latest easing on exchange rate with greenback comes in lead-up to talks with US Mainland banks set own yuan rates for retail clients Mainland banks set their own exchange rates for the yuan against the US dollar for the first time yesterday in deals with retail clients, following the latest steps by the People's Bank ...

    http://www.scmp.com/business/banking-finance/article/1546129/mainland-china-banks-set-own-yuan-rates-retail-clients
  2. Business - Banking & Finance - CURRENCIES

    Yuan to be fully convertible by 2017, says Gulliver

    Posted Mar 28th 2014, 01:40am by Jeanny Yu

    ...'s efforts to tighten liquidity and curb rising inflation. "There will be difficult choices, not least around the shadow banking sector," Gulliver said. "Slowing growth, local government debt and the shadow banking sector all pose policy challenges." A likely dilemma China is facing, some economists say, is that a freer financial market could pose greater difficulties ...

    http://www.scmp.com/business/banking-finance/article/1458857/yuan-be-fully-convertible-2017-says-gulliver
  3. Business - Banking & Finance - CURRENCIES

    Delayed payments system stalls yuan’s global ambitions

    Posted Jul 09th 2014, 11:18am by Reuters

    ... say it is unlikely to be ready before 2016. The slippage might be good news for China's big clearing banks, such as Bank of China, and offshore yuan centres such as London or Singapore, ... development, bankers say. "The central bank is telling others that the first batch of CIPS will be used this year, but we think it is unlikely," a banker at a large Chinese bank said. ...

    http://www.scmp.com/business/banking-finance/article/1550191/delayed-payments-system-stalls-yuans-global-ambitions
  4. Business - Banking & Finance - CURRENCIES

    CCB's London clearing bank prize seen as a major yuan milestone

    Posted Jun 16th 2014, 03:07am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Appointment of China Construction Bank as sole yuan clearing bank in London was a surprise, but will be lucrative for lender CCB's London prize a major yuan milestone China Construction Bank's appointment last week as the sole yuan clearing bank in London is a milestone step to grow mainland banks' market share in the city ...

    http://www.scmp.com/business/banking-finance/article/1533605/ccbs-london-clearing-bank-prize-seen-major-yuan-milestone
  5. Business - Banking & Finance - CURRENCIES

    China Merchants Securities gets nod for commodities risk business in UK

    Posted Jun 27th 2014, 01:04am by Reuters

    ... Reuters in Sydney Commodities-risk nod for China Merchants UK unit Mainland investment bank China Merchants Securities says it has received British regulatory approval to broker listed ... then gradually extend to become a comprehensive investment bank", focusing on offshore yuan and cross-border initiatives between China and Europe, the Middle East and Africa, it said. The bank said ...

    http://www.scmp.com/business/banking-finance/article/1541298/china-merchants-securities-gets-nod-commodities-risk
  6. Business - Banking & Finance - CURRENCIES

    HKMA on alert as it defends peg in first currency market intervention in 18 months

    Posted Jul 03rd 2014, 02:08am by Enoch Yiu

    ... duties- had been imposed to help manage real estate risks. Regarding the risks related to the mainland, Chan said the HKMA had taken measures to control credit risks for Hong Kong banks' increased lending to non-bank mainland entities. A 44.5 per cent annual surge in total loans in the Hong Kong banking sector in January prompted the HKMA to introduce its Stable Funding Requirement, ...

    http://www.scmp.com/business/banking-finance/article/1545170/systemic-risk-answers-sought-hkma-intervenes-currency
  7. Business - Banking & Finance - CURRENCIES

    Aussie falls after RBA chief Glenn Stevens calls it overvalued

    Posted Jul 04th 2014, 01:41am by BLOOM

    ... Bloomberg in Sydney Reserve Bank Governor's comments follow 0.5pc decline in Australian retail sales in May Aussie falls after RBA chief calls it overvalued Australia's dollar dropped at least 0.3 per cent against all of its 31 major peers after Reserve Bank governor Glenn Stevens said the currency was "overvalued" by most measures. The aussie also declined ...

    http://www.scmp.com/business/banking-finance/article/1546108/aussie-falls-after-rba-chief-glenn-stevens-calls-it
  8. Business - Banking & Finance - CURRENCIES

    Analysts lower growth targets for greenback

    Posted Jul 05th 2014, 01:51am by BLOOM

    ... during the first quarter by the most in five years. Central bank chairman Janet Yellen said last month policymakers remained committed to low interest rates for a "considerable time", ...

    http://www.scmp.com/business/banking-finance/article/1546982/analysts-lower-growth-targets-greenback
  9. Business - Banking & Finance - CURRENCIES

    Big challenges ahead for yuan to go global

    Posted Jun 30th 2014, 01:40am by Enoch Yiu

    ... their ambitions for the currency to compete with the US dollar for trade settlement and investment and, eventually, become a reserve currency for central banks. The growing use of the yuan is not at the expense of the Hong Kong dollar HKMA SPOKESMAN The currency began its march on June 29, 2009, when the central banks of the mainland and Hong Kong signed a deal to allow lenders in the city ...

    http://www.scmp.com/business/banking-finance/article/1543257/big-challenges-ahead-yuan-go-global
  10. Business - Banking & Finance - CURRENCIES

    Yuan surges up currency rankings

    Posted Jun 28th 2014, 01:09am by Jeanny Yu

    ... in these markets," he said. Swift operates the world's largest network facilitating the transfer of financial messages between banks. The market share of yuan usage in payments between entities based ... London and Frankfurt to have a local yuan clearing bank, which spurred the formation of a yuan foreign exchange trading centre in the two cities and boosted the usage of yuan settlement in trade ...

    http://www.scmp.com/business/banking-finance/article/1542085/yuan-surges-currency-rankings

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