Payments & Settlements

Payments & Settlements

China, Switzerland Sign Currency Swap Agreement

By Editors | 22/07/2014

China’s central bank announced it signed a bilateral currency swap agreement with the Swiss National Bank worth 150 billion yuan, or 21 billion Swiss francs ($24.4 billion).

Trading & Investment

China and UK Launch Direct Currency Trade

By Editors | 19/06/2014

China and the UK have started the direct trading of the yuan against the sterling, in a bid to reduce costs from currency conversions.

Payments & Settlements

Vietnam State Bank Imposes Fee on Cash Deposits

By Editors | 17/06/2014

The State Bank of Vietnam has proposed new rules that would allow local banks to collect fees on cash deposits, in a move to limit cash transactions.

Payments & Settlements

Singapore Regulator to Launch RMB Liquidity Facility

By Editors | 16/06/2014

The Monetary Authority of Singapore will launch a facility providing overnight Renminbi (RMB) liquidity to financial institutions in Singapore from July 1.

Payments & Settlements

Hong Kong Launches E-Payment for MPF Transfer

By Editors | 13/06/2014

The Hong Kong Monetary Authority and Mandatory Provident Fund Schemes Authority has launched an e-payment service for fund transfer system enhancing accuracy and efficiency of fund transfers between trustees.

Payments & Settlements

Indonesian Banks to Pilot New Branchless Banking Scheme

By Editors | 13/06/2014

Some of Indonesia’s big banks are piloting a new scheme known as ‘branchless banking’ as a way to expand financial services in the country where half of its 240 million strong population does not have access to financial services.

Payments & Settlements

China Beefs Up Financial Support for Trade

By Editors | 12/06/2014

China’s central bank has called for more financing channels for the country’s import and export businesses in a bid to stabilize foreign trade.

Structural Regulation

Philippine Central Bank Allows Banks to Set Service Hours

By Editors | 04/06/2014

The Monetary Board is allowing banks to extend operating hours and services even without securing regulatory approval.

Trading & Investment

Hong Kong Exchanges to Extend After-hours Futures Trading in November

By Editors | 03/06/2014

Hong Kong Exchanges and Clearing Ltd said it will extend after-hours futures trading by 45 minutes in a move that could attract more trading from clients in the North American and European markets.