Netting could give France an RMB clearing edge, says Crédit Agricole
France, the European country that is expected to be next in line to be granted its own offshore renminbi clearing bank, is targeting a broader RMB clearing house structure. If the eventual choice of system involves a netting approach similar to that used in Hong Kong, it could give France a distinct advantage, according to Francois-Xavier Thomas, senior business developer of client coverage and international network at Crédit Agricole.
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