Deutsche Bank’s Global Transaction Banking (GTB) has expanded its suite of renminbi (RMB) services with the introduction of escrow services in Beijing, Guangzhou and Hong Kong. This is in addition to the RMB escrow services established in Shanghai.
Deutsche Bank’s RMB escrow services are offered through the trust and securities services business within GTB. The business also provides a wide array of RMB services including:
- Debt services – bonds: trustee and agency services for bonds cleared through Euroclear, Clearstream and the Central Moneymarkets Unit (CMU), the debt securities clearing and settlement system by the Hong Kong Monetary Authority (HKMA).
- Loan services: facility agent and security agent services for RMB-denominated loans in Hong Kong and Shanghai.
- RMB account bank services: RMB-denominated accounts in Hong Kong, Shanghai, Guangzhou and Beijing.
- Structured finance services: full range of transaction administration services in Hong Kong for RMB-denominated securitisation deals.
“As RMB is being increasingly used as a currency in international business transactions, we understand that it is crucial for our corporate and institutional clients worldwide to have these RMB-denominated services both offshore and onshore in China. Our extended RMB services will enable our clients to realise their business aspirations and maximise their opportunities across the global marketplace,” said Sally Gilding, managing director, Deutsche Bank’s head of Asia for its trust and agency services business.
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