Payment news, July 6

J.P. Morgan promotes international renminbi clearing services, while ANZ signs a facility agreement with EFIC.

J.P. Morgan steps up in China

The Shanghai branch of J.P. Morgan will now provide renminbi RMB nostro accounts and clearing services to its clients globally in a response to an announcement made by the People's Bank of China regarding RMB international settlement. J.P. Morgan's clients will benefit from the cash management services that the bank has to offer, globally.

This is a big step in providing a comprehensive service to support our clients' growth. It gives our clients more choice and flexibility to support their cross-border trade finance and clearing needs in China, said Lisa Robins, head of J.P. Morgan treasury and securities services China, in a statement. With our ability to...

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