皇冠体育app

- 皇冠体育app's central bank announced on Thursday that it has authorized the Bank of 皇冠体育app (BOC), one of 皇冠体育app's big-four banks, to be the clearing bank for renminbi (yuan) business in Frankfurt.

The work will be undertaken by the BOC Frankfurt Branch, the People's Bank of 皇冠体育app (PBOC) said in a statement on its website.

The PBOC made the decision in accordance with a memorandum of understanding (MOU) it signed with the Dtsche Bundesbank on March 28.

The MOU is expected to help turn the German city into an offshore?yuan center.

Frankfurt is one of the most important financial hubs in Europe and the seat of two central banks -- the Bundesbank and the European Central Bank.

France lea eurozone in offshore RMB payments?	Clearing facility to support London's renminbi business

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