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After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Deal raises questions about whether transaction was done at arm's length
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
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In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country of Djibouti is launching a Silk Road Bank. Plus a recap of GlobalRMB’s top stories this week. -
With the RMB hitting new lows against the dollar following the US elections, the move away from offshore RMB (CNH) deposits is likely to continue, if not accelerate. GlobalRMB is introducing a new historical chart tracking the level of CNH deposits across Hong Kong, Macau, Singapore, South Korea and the UK.
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JP Morgan is paying a chunky $264m to the US authorities to settle charges that it won business from clients and government officials in Asia Pacific by giving jobs and internships to their relatives and friends.
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The transition to a new IMF special drawing rights (SDR) basket, inclusive of the renminbi, is just the starting point for efforts by China and the IMF to see the basket take up a greater role as a global liquidity tool.
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Intercontinental Exchange has added Goldman Sachs as the third clearing member of its ICE Clear Netherlands subsidiary.
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Derivatives experts are rushing out a new toolkit of products to help market participants navigate a coming sea change in financial markets following last week’s US presidential election upset. Dan Alderson reports.
