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June Meeting - The New U.S. Trading Hub for Chinese Renminbi: Opportunities for Corporations
PNC Bank
1600 Market St
Phila, Pennsylvania 19102
United States
2155857351
Tuesday, June 12, 2018, 11:30 AM - 1:30 PM EST
Category: Events

The New U.S. Trading Hub for Chinese Renminbi: Opportunities for Corporations


The People’s Bank of China announced late last year that it had awarded the Bank of China New York Branch clearing bank status for the new U.S. Renminbi (RMB) Trading and Clearing Hub. The U.S. joins several other financial centers which have been awarded this status, including Hong Kong, London, Singapore, Australia and Germany. US Corporates can now enjoy the same potential cost savings as their European and Asian competitors whilst continuing to deal with their relationship banking group. By simply requesting their invoices be charged in RMB as opposed to the common practice of US Dollars (USD), it is estimated a corporate will see a 2-5% reduction in their costs. This, coupled with the increasing exposure that US Corporates have the world’s largest trading partner highlights the opportune time to adopt as part of your treasury policy. This session will demystify the process and examine the opportunities and steps to take advantage of the new U.S. RMB Trading and Clearing Hub.

 

Speaker: Alison Fletcher

Alison Fletcher is a Foreign Exchange and Economics Market Specialist at Bloomberg, New York.

Alison holds a Bachelor of Economics and Bachelor of Commerce
(Finance) from the Australian National University and a Masters of
Science (Development Economics) from the University of London.

Prior to Bloomberg, Alison worked for 15 years as a Corporate FX Risk
Management Advisor in Sydney, London and most recently in Singapore. She has worked for global banks such as HSBC, Commonwealth Bank of Australia, Commerzbank and Abn Amro/RBS.

Alison has published articles in Global Treasurer News and Bloomberg Markets Magazine and has been a guest speaker at the ACT Singapore, ASEAN Risk, The Corporate Treasurer, ACI Philippines, FinanceAsia, CTCFO Indonesia, Windy City Summit, Eurofinance, Texpo and the Canadian National, Ottawa, American National, Philadelphia and Minnesota AFP’s..

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Contact: Chuck Stanbach at [email protected]