Standard Bank signs loan facility in Taiwan
South Africa’s Standard Bank has signed a $275 million loan facility in Taiwan. According to Craig Bond, chief executive of Standard Bank China, the three-year term loan facility is to be used for general purposes by the bank with a primary focus, but not limited to, trade related financing. The loan facility, signed on December 9, was provided by a total of 18 banks including Taiwanese and international banks.
“The wide range of support provided by the participating banks is encouraging as it shows that Standard Bank’s strategy of linking Asia to Africa is a positive one,” said Bond. “The loan was oversubscribed by $125 million despite the broader challenges being felt in the global economy.”
MoneyGram partners with ICBC for cash service
Global money transfer company MoneyGram has partnered with the Industrial and Commercial Bank of China (ICBC) to launch a cash-to-account service. The new service allows users to send money directly to ICBC accounts in China.
“Launching our cash-to-account programme with ICBC gives us greater reach and the ability to provide an extra level of convenience for our customers who are receiving money in China,” said Stuart Kiefer, vice-president of product management at MoneyGram.
The service is available to customers in 20 markets globally including Australia, Hong Kong and Japan in Asia-Pacific.
Moody’s Analytics to offer Basel III compliance tool
Moody’s Analytics, the risk measurement and management software and advisory services provider, has launched a new regulatory capital management solution. The solution, called RiskAuthority, is a comprehensive Basel I, II and III compliance tool that allows risk professionals to calculate, consolidate and report their organisation’s concentration, credit, liquidity, market and operational risk.
“Regulations are challenging financial services companies to reassess their current data, analytics, and reporting infrastructure,” said Jodi Alperstein, managing director of product management at Moody’s Analytics. “From sourcing and consolidating the data, to delivering enhanced regulatory reports on time, banks are under ever growing pressure to comply.”