DBS to debut CNH structured notes in Singapore; close-out settlement backstop in place to deal with China policy u-turn

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DBS will start offering offshore renminbi (CNH) structured notes and unit trusts to its private banking customers in Singapore from February 28, making it the first regional bank to extend retail structured deposits and notes tied to renminbi bonds outside Hong Kong. Until now most banks have offered renminbi structured deposits and a limited range of investment solutions - such as retail renminbi bond funds - to retail clients who open a bank account in Hong Kong, where the free trading of r