atans1

HoHoHo, PM must be proud

In Banks, China, Temasek on 19/01/2016 at 7:03 am

DBS, StanChart kanna mark by China for gaming the Chinese FX regome:

FT reported last week:

The latest tightening comes after the central bank temporarily suspended some foreign banks in China, including Standard Chartered, Deutsche Bank and Singapore’s DBS, from conducting certain foreign exchange transactions designed to arbitrage the gap between the onshore and offshore renminbi exchange rates.

HSBC is really an old friend of China. It may be the bank of choice for Chaqco and other Mexican drug lords, but it doesn’t game PRC regulations.

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