LME mandates HSBC as its RMB concentration bank
In this month’s Working Capital Chronicle, HSBC was mandated as LME’s renminbi concentration bank. Meanwhile Deutsche Bank and Citi also run innovative cash deals.
HSBC has been mandated as the renminbi concentration bank for LME Clear, on August 18. Following on the London Metal Exchange's (LME) announcement that it would accept offshore renminbi (CNH) as cash collateral in late July, more details of the system have emerged.
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