Tag: sweeping

Siemens, Alibaba, Huawei and ZTE are all in the second batch of SAFE’s pilot for cross-border FX cash sweeping, netting and centralised payments transactions, CT has learnt.

US multinational approved to tap the PBOC’s extended pilot programme for cross-border RMB intercompany lending.

China’s central bank has lifted a host of restrictions designed to make renminbi cross-border trade settlement easier to conduct, while at the same time announced new measures to promote greater offshore renminbi activity.

Scandal-hit Libor sold for $1.50 to NYSE Euronext; China announces 10 key financial policy measures: India bans banks from prop trading on currency derivatives.

China's central bank is set to allow companies to sweep their renminbi in and out of the country as part of a new pilot programme, CT understands. The news coincides with more major developments for the currency.

German car parts and tyre maker Continental has joined the club of multinationals approved by China’s central bank to transact renminbi intercompany loans out of China.

Ryan Hershberger, regional treasurer of Asia-Pacific and Africa, on how Ford was restructured after the credit crunch left it reeling.

J.P. Morgan has provided its clients with advice on how to get the green light from the People’s Bank of China (PBOC) to conduct a cross-border renminbi intercompany loan. Here is a précis of the guidance:

US-listed Moog Inc, a designer and maker of precision control systems, is the latest addition to a handful of MNCs granted a quota from China’s central bank to make cross-border renminbi intercompany loans.

Tapping the new renminbi cash management pilots requires more than just approval from the state regulators, but also the sophistication and sound preparation of the treasury team who will implement it.

The US car maker has received PBOC's approval to lend money out of China with the end goal to help its headquarters in Michigan to settle Chinese supplier payments in renminbi.

MNCs tell CT how they are taking advantage of pilot programs in China to repatriate trapped renminbi and streamline cash management.