Bank of China approved for yuan clearing in Frankfurt
Beijing (AFP) June 19, 2014 - China's central bank has approved Bank of China, one of the country's major financial institutions, as the clearing bank for yuan transactions in Germany's financial centre Frankfurt, it said Thursday. The People's Bank of China (PBoC), the central bank, made the announcement in a one sentence statement on its website. The designation was based on a memorandum of understanding with the D ... more
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