finance.yahoo.com

Deutsche Bank Appointed Renminbi Clearing Bank in Frankfurt

Deutsche Bank logoDeutsche Bank
Sig2.90Sen+3.20Env0.00Soc+1.30Gov+1.60

Deutsche Bank was appointed by the People’s Bank of China as a renminbi clearing bank in Frankfurt, strengthening its role as a European clearing partner. The move is intended to give European businesses more direct access to China’s onshore payment and liquidity channels, supporting China’s push to expand yuan use in trade and investment. For firms trading with China, RMB payments could be faster and smoother.

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