Singapore

In this round-up, Singapore deposits fell in the first quarter this year, Taiwan RMB deposits rose to a new record, Bank of China joined the new gold benchmark, and the first overseas inverse ETF shorting A-shares entered the market.

Singapore-based UOB has established a cross-border team focusing on its clients' RMB solutions needs, the bank said on June 17.

The renminbi is finding support from small and medium enterprises (SMEs) around Asia, according to a new survey by consulting firm East & Partners.

United Overseas Bank this week priced Asia’s first tier one Basel III-compliant bonds, getting an S$850m ($670.9m) perpetual non-call five deal away at just 4.9% — a level that even rival bankers grudgingly admitted was tighter than they had expected, writes Frances Yoon.