, China

China and the UK agree on currency swap line

It’s the first such deal with a Group of Seven country.

Bank of England Governor Sir Mervyn King said the swap arrangement will enable the central bank to offset a sudden shortage of renminbi liquidity in London’s trading houses, helping to enhance its role in currency exchange.

The BoE and the People’s Bank of China, the central bank, signed the agreement over the weekend. The agreement will initially last for three years and has a maximum value of US$32.6 billion. BoE said the deal will support the UK’s domestic financial stability.

The swap line size is similar to those with Australia and Brazil but is just half that of Hong Kong’s, reflecting the city’s continued position as the main global hub for offshore renminbi trading.

The deal is the first of its kind within Europe. Only 20 countries have a currency swap agreement with China in place.

Analysts said the bilateral currency swap will help London eventually become a fully fledged offshore renminbi trading center just like Taiwan and Singapore.

The City of London financial district launched an initiative in April on making the British capital a center for renminbi business.
 

Pembekuan pendanaan menghantam penyedia layanan BNPL

Investor semakin sedikit mengalirkan dana ke penyedia layanan BNPL yang sudah menghadapi keuntungan margin yang tipis.

HSBC: Aliansi bank-fintech merupakan win-win

Pemberi pinjaman dapat belajar dari teknologi disruptif sambil membantu mereka mematuhi regulasi.

Tokenisasi aset perdagangan untuk menjembatani kesenjangan pembiayaan

Teknologi blockchain dapat mendesentralisasikan operasi keuangan dan mempermudah akses kredit.

BCA menjalankan komitmen terhadap keuangan berkelanjutan

Bank asal Indonesia ini mempertimbangkan aspek lingkungan dan tata kelola dalam keputusan pemberian pinjaman.

Mengapa UNOBank mendorong embedded finance tumbuh di Filipina

Bagi UNOBank, banking interface terpadu adalah strategi pertumbuhan sekaligus upaya inklusi keuangan.

OCBC mencoba mengurangi kesenjangan manfaat bagi agen properti di Singapura

Produk terbarunya menawarkan manfaat finansial di bidang perbankan, asuransi, dan perdagangan.

Upaya Malaysia menjadi anggota BRICS untuk mendorong perombakan sistem perbankan

Namun, tantangan muncul ketika menjauh dari ketergantungan pada AS dan SWIFT.

Platform pembayaran PingPong memperoleh lisensi PJP di Indonesia

PingPong mengincar ekspansi ke pasar ekspor senilai $320 miliar di negara tersebut.

Merger dan penutupan mengancam 3.800 bank di area pedesaan Cina

Sekitar 70 bank di area tersebut telah merger sejak 2023.