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Reuters — Chinese Banks Urged To Switch From SWIFT And Drop USD In Anticipation Of US Sanctions

Summary:
China should prepare for potential U.S. sanctions by increasing use of its own financial messaging network for cross-border transactions in the mainland, Hong Kong and Macau, according to a report from the investment banking unit of Bank of China... ReutersChinese banks urged to switch away from SWIFT as U.S. sanctions loom

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China should prepare for potential U.S. sanctions by increasing use of its own financial messaging network for cross-border transactions in the mainland, Hong Kong and Macau, according to a report from the investment banking unit of Bank of China...
Reuters
Chinese banks urged to switch away from SWIFT as U.S. sanctions loom

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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