Chinese and foreign banks still at loggerheads on parent guarantees
Foreign banks such as Standard Chartered, HSBC and BNP Paribas are making slow progress in China in signing what is considered the closest equivalent to a Chinese version of the International Swaps and Derivatives Association master agreement with their Chinese bank counterparts. Nearly two months have lapsed since a mid-September deadline by which all banks should have signed up if they wanted to continue trading derivatives in China.
The signing of the new derivatives master agreement
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