Announcement of Renminbi clearing bank in London

The People’s Bank of China (PBoC) has confirmed the appointment of China Construction Bank as the Renminbi (RMB) clearing bank in London.
Published on 18 June 2014

This follows the signing of a Memorandum of Understanding (MoU) on RMB clearing and settlement in London between the PBoC and Bank of England on 31 March 2014, setting out the cooperation between the two institutions relating to the operations of the RMB clearing and settlement service in London, in the broader context of encouraging cross-border use of RMB to support the longer-term rebalancing of the world economy.

PDFPress release

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