HSBC Okayed to Pilot Credit Risk Swap in Vietnam
The Hong Kong and Shanghai Banking Cooperation (HSBC) has approval from the State Bank of Vietnam to provide a trial credit risk swap service in Vietnam.
Accordingly, HSBC branches in Hanoi and Ho Chi Minh City will be eligible to offer credit risk swap service for one year, starting this April.
The service will be applied only to bonds issued by the Vietnamese government or Vietnamese enterprises, as well as long-term loans provided by credit institutions operating in Vietnam to local businesses.
Credit risks from Vietnamese credit institutions who are customers of HSBC will be transferred by HSBC Vietnam to its branches in other countries. (VNA, Vietnam and World Economy)
Vietnamese
