hi, is there anything meaningful that u find in this thread?
Or i should stop my beer-blogging here?
I let you decide
-
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Chitchat She asked me why I went drinking again
- Thread starter AsiaDK
- Start date
hi, is there anything meaningful that u find in this thread?
Or i should stop my beer-blogging here?
I let you decide
Drinking with ShentonDK tonight.
He said some financial institutions in Southeast Asia briefly ran out of USD in the last two days. Some incoming USD remittance (meant for their clients) have to be held in their banks' capital reserves/settlement account over this weekend and wait till next Tuesday (after US Monday hours) before being released into their clients account.
In short, the money came but the banks kapoo it to ease their USD shortage over the weekend. When customers called the banks, they give various nonsense to blame here and there (e.g. Compliance delays, etc)
Sounds like a real prelude of another Asian Financial Crisis like 1997. You will be shocked if I tell you that this hiccup affected the bigger banks in Southeast Asia, not the smaller ones. Short-term mess expected, watch SOR for more clues.
He said some financial institutions in Southeast Asia briefly ran out of USD in the last two days. Some incoming USD remittance (meant for their clients) have to be held in their banks' capital reserves/settlement account over this weekend and wait till next Tuesday (after US Monday hours) before being released into their clients account.
In short, the money came but the banks kapoo it to ease their USD shortage over the weekend. When customers called the banks, they give various nonsense to blame here and there (e.g. Compliance delays, etc)
Sounds like a real prelude of another Asian Financial Crisis like 1997. You will be shocked if I tell you that this hiccup affected the bigger banks in Southeast Asia, not the smaller ones. Short-term mess expected, watch SOR for more clues.
You're most welcomed
published a few hours after i reached home. Looks like ShentonDK is right.
http://www.zerohedge.com/news/2016-12-16/central-banker-sees-scary-2017
Stupid AMDK always like Tiger Beer with local food. Why do i think that it tastes too sharp? I am Singaporean yet I don't like Tiger.
While we were drinking with ShentonDK last night, AMDK reaffirmed that Trump is going to make US very great when he takes over. He speculated that if F-35 project is halted, there will not be retrenchment. Lockheed will reach some agreement with Trump and being a shrewd businessman, Trump will eventually export F-22 to the world and clock trillions in sales in the years ahead.
While we were drinking with ShentonDK last night, AMDK reaffirmed that Trump is going to make US very great when he takes over. He speculated that if F-35 project is halted, there will not be retrenchment. Lockheed will reach some agreement with Trump and being a shrewd businessman, Trump will eventually export F-22 to the world and clock trillions in sales in the years ahead.
What happens after drinking 1, 2, and 3 glasses of wine? http://www.upworthy.com/what-happen...nd-3-glasses-of-wine-19-viral-photos-tell-all
Update for this week: As expected, there are minor settlement disruptions in sg offices of a bank and major moneychanger. The local bank withheld some customers' incoming funds and not released into client's account citing compliance issue; actual reason being temporary USD shortage in Southeast Asia. A major local moneychanger got affected by this bank and postponed fund settlement with their customers by an additional day. Stay tuned!
USD Shortage is over in southeast Asia after US resumes settlement for remittance last night. However, some China businesses had difficulty remitting to Southeast Asia on the first two days of this week. It is certain that the funds did not leave china as the China banks can't produce a MT103 form to proof remittance.
Not sure if these incidents are related.
Similar news came out at noon from Reuters today.
China's money markets battle dual deficits of cash and trust http://www.reuters.com/article/us-china-moneymarket-analysis-idUSKBN14A07W
Quote - "The market is short of money. People are rushing to sell everything to get liquidity, from money market funds to corporate bonds to treasuries," said Gu Weiyong, chief investment officer at bond-focused hedge fund manager Ucom Investment Co. "It's a turning point from bull to bear."
Just came back from my SOLE Christmas drinks. Ya, this is my only Christmas celebrations this year. Hahaha, recession mode.
Come across a not-close banking ScholarDK friend who left PMO for banking career with AMDK bank.
He was sharing with us that reports are coming in, that two of the Top-4 largest bank in China have insufficient funds with US agent banks for all of their citizen/corporations' outward remittances this week. As a result, some receipents from different parts of the the world can't receive USD payments from their Chinese counterparts due to the disruption. :*:
Come across a not-close banking ScholarDK friend who left PMO for banking career with AMDK bank.
He was sharing with us that reports are coming in, that two of the Top-4 largest bank in China have insufficient funds with US agent banks for all of their citizen/corporations' outward remittances this week. As a result, some receipents from different parts of the the world can't receive USD payments from their Chinese counterparts due to the disruption. :*:
She asked me why I went drinking again
- because I wished she knew that I was unhappy
Then you should ask her why she went shopping?
MAS holding large reserves of USD, as well as all stat boards like HDB, Stomachsick, etc. Just round up half a dozen AMDK local bankers and go to Ravi's office and ask him to exchange with them lah. Ravi will say yes.
hahaha, brother, don't stress over this if you can't make up your mind. Come join me now
good cheese & salad, $8 Riesling and cougars near my table
Wah lau, like that $39? So ex? forget about it.
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