BOCI pushing RMB as collateral in commodity derivatives deals
Bank of China's Hong Kong subsidiary looks for global role – and to expand the use of the yuan
Commodities markets have changed dramatically over the past three years. Increasingly onerous regulatory demands and the end of a decade-long commodities rally have forced a number of global banks to exit or scale down their commodities business. Institutions such as Credit Suisse, Deutsche Bank and Barclays are now nowhere to be seen in Asian commodities markets; instead, Chinese dealers are stepping in to fill the void.
Bank of China International (BOCI), the Hong Kong-based subsidiary of Bank
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