Search Results for: Bank of China
China busts largest underground banking case
November 23rd, 2015
Police in east China‘s Zhejiang Province have busted the country’s largest underground banking case, which involved transactions totalling 410 billion yuan (64 bln U.S. dollars), the Ministry of Public Security said Thursday. A total of 100 suspects from eight ...
China central bank orders banks to tighten supervision of clients’ forex deals: sources
September 18th, 2015
The People’s Bank of China has ordered banks to closely scrutinize clients’ foreign exchange transactions to prevent illicit cross-border currency arbitrage, sources with the direct knowledge of the matter told Reuters on Friday. China’s yuan is not freely convertible ...
China FX reserves fall record $93.9 bln in Aug as central bank supports yuan
September 7th, 2015
Global investors are bracing for data this week that could show a big drop in China‘s foreign exchange reserves as the central bank steps up its intervention to stabilise the yuan currency after its shock devaluation last month. China ...
China central bank sets reserve requirements for all FX derivatives
September 2nd, 2015
China’s central bank will require reserves to be set aside for purchases of all currency derivatives from October, according to a document seen by Reuters, as Beijing moves to make it more expensive to bet on further depreciation of ...
China c.bank to clamp down on forwards trading to curb yuan depreciation
September 1st, 2015
Banks must hold 20 pct reserve vs nominal FX forwards value Reserves to be denominated in U.S. dollars, no interest paid Move seen as increasing risk control, discouraging speculation Yuan lost 2.6 pct in August, worst monthly performance on ...
Siemens selects Deutsche Bank for receivables on behalf of in China
August 28th, 2015
Deutsche Bank today announced that it has implemented a Receivables on Behalf Of (‘ROBO’) solution for Siemens Financial Services (‘SFS’) in China, for both intra-group and third party cross-border receivables. Deutsche Bank is a key banking partner of Siemens ...
ECB’s economist says bank will act to combat China, oil impact on inflation target
August 26th, 2015
The risk has increased that the European Central Bank won’t get inflation back up to where it wants, the bank’s chief economist said on Wednesday, pledging to beef up its anti-deflation asset-buying programme if necessary. Peter Praet, who is ...
China central bank tries to soothe global markets, says no basis for yuan to fall further
August 13th, 2015
China’s central bank said on Thursday that there was no basis for further depreciation in the yuan given strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. As ...
China Opens Interbank Market to Central Banks, Sovereign Funds
July 14th, 2015
China issued new rules making it easier for foreign central banks, sovereign wealth funds and global financial organizations to access its interbank bond market, the latest step in the opening up of Asia’s largest economy. They will no longer ...
China’s central bank injects US$8b into market
July 7th, 2015
The People’s Bank of China, China’s central bank, has injected 50 billion yuan (US$8.2 billion) into the money market through open market operations, it announced on Tuesday. This has marked the fourth consecutive cash injection through the central bank’s ...
