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DBS to be first Singapore bank to act as settlement agent for China bonds
It will be first and only Singapore bank holding the licence, broadening access to US$13t Chinese onshore-bond market, the world's third largest
Published Tue, Oct 15, 2019 · 09:50 PM
Singapore
DBS Bank will be granted a settlement agent licence by the People's Bank of China (PBOC) that will permit Singapore's largest bank to trade, settle and provide custody for China's interbank bond market instruments on behalf of foreign investors, the Monetary Authority of Singapore (MAS) said on Tuesday.
This will make DBS the first and only Singapore bank to hold this licence, broadening its access to a US$13 trillion Chinese onshore-bond market that is also the third-largest bond market globally.
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