China

HSBC Bank can now provide financial services and solutions to domestic-funded and foreign-funded businesses in Wuxi.

The Financial Times and other media outlets reported yesterday that the Chinese authorities plan to “instruct” banks to roll over their credits to local governments. If confirmed, such a move would both ease the debt burden on local governments and prevent a possible wave of defaults on bank balance sheets as these loans come due over the next 1-3 years (banks have been forbidden from rolling over or extending new loans to local governments). The policy would not be a complete surprise, as the CBRC hinted last October that a move of this kind was under consideration. According to such reports, banks may extend the maturity of their loans by up to four years. We estimate that outstanding local government debt amounts to RMB 14.7 trillion, of which one-fifth may come due this year (based on figures reported by the National Accounting Office), and the remainder through 2014.

Realsec certified the compliance of the EPP-002 model of GRGBanking with their Cryptosec Remote Key Loading (RKL) which based on cryptographic HSM last November.

HSBC made a $21.9 billion profit last year, the largest among western banks, as its strength in Asia helped it cope with a euro zone debt crisis.

America’s second largest bank wants to be among the Big Boys in China’s banking industry.

China’s Big Four banks have less and less to cheer about as the year stumbles on.

The story was revealed during the China ATMs 2012.

The souring Chinese economy continues to dent the bottom line of Chinese banks.

ICBC Bill Department has processed outright inter-bank discount of bills to a total of over RMB 100 billion or US$ 15.887 billion in 2011. Nearly 70% cash generated was for SMEs.

Mainland Chinese will soon be seeing much more of HSBC.

The lowly depositor has taken one small step towards getting more respect from Chinese banks.

ICBC Leasing has provided equipment leasing service for 300+ SMEs with credit facility totaling over RMB 5 billion in 2011.

ICBC registered over US$158.7 billion or RMB 1 trillion in cross-border RMB business by end-2011.

ICBC Beijing branch's total outstanding small business loans grew more than 60% to nearly RMB 15 billion by end-2011.

Fear of inflation is keeping bank lending in check in a big way.

China's "Big 4" banks extended about US$50.8 million of new loans in January, reports China Securities Journal.