Deutsche Bank wins China central bank nod as Europe RMB clearing bank in Frankfurt
DB•Deutsche Bank named Europe’s RMB clearing bank in Frankfurt
Deutsche Bank was appointed by the People’s Bank of China as Europe’s renminbi clearing bank in Frankfurt.
The designation enables direct clearing and settlement of cross-border RMB payments for European financial institutions and corporates.
Deutsche Bank said it is the first foreign bank to receive the RMB clearing bank mandate.
