Chinese banking giant ICBC takes on Goldman Sachs in US repo market

The loans allow investors to borrow money by lending securities such as Treasuries

Published Wed, Jun 7, 2017 · 09:50 PM

    New York

    HIGH up in a New York City skyscraper, China's biggest bank is playing in the shadows of American finance.

    The prize for Industrial & Commercial Bank of China Ltd (ICBC) isn't stocks, bonds or currencies. It's the grease in the wheels of all those markets: repurchase agreements.