Search Results for: Bank of China
China’s central bank attempts to boost economy with cash injection
March 1st, 2016
The People’s Bank of China has loosened rules on banks’ cash reserves for the fifth time in a year in the hope cheaper loans will be made available China’s central bank has stepped up action to bolster its cooling ...
China central bank deflects concerns over forex reserves
February 29th, 2016
The vice-governor of China’s central bank on Sunday deflected concerns over the possibility of an extended fall in the country’s foreign exchange reserves and reaffirmed confidence in the strength of the Yuan. China still owns the world’s largest currency reserves ...
China’s top bank raided in Spain over money laundering
February 18th, 2016
Five employees of China’s biggest bank have been arrested in Spain on suspicion of laundering money across Europe. Police made the arrests Wednesday after raiding the offices of the Industrial and Commercial Bank of China in Madrid. One of ...
China’s Central Bank Discusses Digital Currency Launch
January 21st, 2016
The People’s Bank of China (PBoC), the country’s central bank, is moving toward the launch of its own digital currency. The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing. Attendees included central bank governor Zhou Xiaochuan and ...
China Said to Put Reserve Rule on Offshore Bank Yuan Funds
January 18th, 2016
Officials extending effort to counter speculation against yuan Premier Li underscores `no basis’ for continued yuan slide China is stepping up efforts to counter speculative bets against the nation’s currency, through imposing reserve requirements on yuan deposits held on ...
China names central bank deputy governor as new forex boss
January 13th, 2016
China’s cabinet has named Pan Gongsheng, a deputy governor of the country’s central bank, as its new top foreign exchange regulator to manage the country’s currency reserves and steer yuan reforms. Pan will replace Yi Gang as head of ...
Bank of America Merrill Lynch Launches U.S. Dollar Cross-border Cash Pooling in China
January 7th, 2016
ZF TRW Automotive Serves as Pilot Client for New Solution Bank of America Merrill Lynch Global Transaction Services (GTS) has today announced the launch of automated U.S. dollar cross-border cash pooling services for corporations operating in the Shanghai Free ...
Standard Chartered among banks in China forex ban – sources
January 7th, 2016
Standard Chartered (STAN.L) is among three lenders that China’s central bank last week suspended from conducting some foreign exchange business until the end of March, two sources with direct knowledge told Reuters on Wednesday. Reuters reported on Dec. 30 ...
China bans prepaid card provider, warns non-bank financial firms
January 7th, 2016
China’s central bank on Thursday said it had revoked the license of a prepaid card provider and vowed to crack down on non-bank financial institutions that violated the law. The People’s Bank of China (PBOC) said on its website ...
China cracks whip on foreign banks with forex shut-out
January 4th, 2016
* Beijing targets “aggressive” trading to stem capital flows * Also wants to narrow onshore-offshore yuan gap * China-based banker says “easy-money” arbitrage days now gone Chinese authorities are starting to police the nation’s foreign exchange market in a ...
