Thu 13 Jun 2019 / Asia Pacific,Global
China writing new interbank rules
China's commercial banks have struggled in the international arena. They are the biggest in the world, but must abide by rules written over the past few decades by western banks, despite having operated correspondent accounts for many years and working as trusted partners in the global interbank market. Chinese banks' sense of unease about not setting the rules of the game has led to the establishment of many joint interbank associations with major emerging and partner economies around the world.