Banks battle for share of burgeoning Asia repo market

Basel III pushes US and European banks to Asia

illustration-four-arms-pulling-on-thick-rope-blue-background

The US Basel III rules were finalised in July last year and two months later Goldman Sachs had relocated its New York-based head of financing to Hong Kong. In late February Deutsche Bank announced it would cut $100 million of assets from its US arm including the repo businesses to be reassigned to non-US locations such as Asia.

And it's not just the global firms that are ramping up their Asia repo offering: Japanese lenders, regional banks such as Singapore's DBS, and regionally focused firms su

To continue reading...