( June 29, 2015, 06:25 GMT | Official Statement) -- MLex Summary: The People’s Bank of China and Hungary’s central bank signed a memorandum of understanding to set up a renminbi, or yuan, clearing arrangement in Hungary, the PBOC said in an announcement. The PBOC also announced that its Renminbi Qualified Foreign Institutional Investor, or RQFII, program would be expanded to Hungary, with a quota of 50 billion yuan ($8 billion). The Bank of China’s Hungary branch is the authorized renminbi clearing bank.The statement follows:...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.