No trade finance exemptions for British banks?
Jul 15, 2013
Asia’s finance hubs hit hard by bank deleveraging
European banks are pulling financing out of Asia with Singapore and Hong Kong badly hurt, especially in trade finance. Asian banks are taking some of the slack.
Extensive deleveraging from European banks has caused a dramatic scaling back of financing in Asia, falling $119.5 billion from the peak, to $1,263 billion by the end of last year, according to data from the Bank of International Settlements.
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