China

Fitch Ratings says a weaker operating environment in Asia Pacific may lead to rating pressure on banks in China and India.

The New York branch of the Bank of China will become a clearing settlement bank and collateral custodian of CME Group, subject to regulatory approval.

China's second largest bank expects to complete an M&A this year and will accelerate its foreign expansion in succeeding years.

The China Chain Store and Franchise Association urged the government to cut bank card-swipe fees charged to merchants.

China UnionPay cards will now be accepted in by all automatic teller machines and point-of-sales machines owned by Nepal's Himalayan Bank.

China Construction Bank, the world's second largest by market value, will soon open a subsidiary and a branch in the Grand Duchy of Luxembourg.

Dangerously high levels of corporate debt and a continuing economic deceleration make it imperative that China implement urgent financial sector reforms.

Chinese businessmen continue to avoid taking out medium- and long-term bank loans over short-term worries about China's rapidly decelerating economy.

But they have to lend out around CNY380-500b of new loans in each of the remaining 4 months.

Sales of asset-backed securities in China suspended three years ago have been re-launched to help banks stiffen the country’s sagging banking sector.

ICBC Beijing Branch has included the Thai baht and Philippine peso in its foreign exchange currency services.

Chinese and French state-owned banks have established a US$189 million fund to support each other's small and medium sized enterprises.

China's banks might have lent some US$95 billion in August, a 14% rise spurred by the government's injection of more money into the reeling Chinese economy.

Fitch Ratings Ltd expects the balance sheets of Chinese banks to deteriorate until the first-half of 2013.

Loans by China's Big Four banks to local government financing vehicles (LGFVs) amounting to US$410 billion from January to June has increased the risk of default by these entities.

China's commercial banks are facing a high risk of increased bad loans as local governments try to unleash a new round of stimulus packages.