PBoC names clearing banks in Thailand and Malaysia
ICBC will clear in Bangkok and Bank of China in Kuala Lumpur
The People's Bank of China (PBoC) yesterday announced the designation of the Industrial and Commercial Bank of China (ICBC) as the renminbi clearing bank in Thailand.
The central bank also revealed, in a separate statement, that it has authorised the Bank of China to perform the same role in Malaysia.
The authorisation of the ICBC to provide renminbi clearing in Bangkok follows the PBoC's and the Bank of Thailand's signing of a memorandum of understanding in Beijing on December 22.
The Bank of
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