Banks strike landmark swap deal in Vietnam
HSBC and StanChart do first dong interest rate swap
HSBC and Standard Chartered have done the first interbank Vietnamese dong interest rate swap, marking a landmark deal for the local currency derivatives market. The five-year transaction sees HSBC pay a floating rate at three-month VNibor1 on $3 million, in exchange for a fixed dong rate offered by Standard Chartered.
Greg Clinton, global head of interest rate derivatives at Standard Chartered in
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