PBoC Eyes Payment Stability Through SWIFT JV

Interestingly, the PBoC’s decision contrasts with a Bank of China International report last year which urged against reliance on SWIFT due to political risks in favor of CIPS which is now a shareholder of the new joint venture.


SocGen Pares Down Hong Kong Office Space

Societe Generale is the latest global bank to cut office space in Hong Kong, which faces political uncertainty in addition to the ongoing pandemic.


Westpac reviewing New Zealand Business

Westpac is also assessing the appropriate structure for its New Zealand business and whether a demerger would be in the best interests of shareholders.