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ABN AMRO Private Banking seeks renminbi approval

ABN AMRO Private Banking is seeking approval from the Hong Kong Monetary Authority (HKMA) to clear and settle renminbi trades, according to a bank official. Concurrently, ABN AMRO is sorting out its internal procedures for the clearing of renminbi transactions. “The set-up process involves communications with the HKMA, and the establishment of internal procedures and systems to ensure the control…

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