Download Press release Press release Luxembourg now Second Highest Euro

Press
release
Press
release
Luxembourg now Second Highest Euro Country in
RMB payments
SWIFT RMB Tracker shows increase of 86% in Luxembourg
payments value over the last 12 months
Brussels, 22 August 2013 – Luxembourg is ranked #8 in the world for RMB payments
value (excluding China and Hong Kong) in July 2013, making it the second highest
placed Euro country behind France at position #6 (see April Tracker).
Luxembourg growth over the last year is significant with an increase of 86% in RMB
payments value. It is mainly driven by financial transfers representing 88% of all
payments value done in July 2013. More than 58% of the payments value between
Luxembourg and China / Hong Kong is denominated in RMB in July 2013 compared to
42% in July 2012.
Patrick de Courcy, Deputy Chief Executive and Head of Markets & Initiatives, Asia Pacific
at SWIFT says: “Luxembourg’s number two ranking in the Eurozone for RMB payments
is not surprising, with close to forty RMB denominated bonds listed on the Luxembourg
Stock Exchange and a strong presence of Chinese banks. It will be interesting to watch
future developments as Luxembourg builds on its position as a leading international
Renminbi centre in the Euro area.”
In July 2013, the RMB remained stable in its position as the #11 payments currency of
the world, with the same market share of 0.87% compare to previous month. Overall,
RMB payments increased in value by 5.1% in July 2013, whilst the growth for all
payments currencies was at 5.4%.
RMB resources from SWIFT

Event ! The countdown to Sibos has started!
Are you going to Sibos 2013 in Dubai? Come and meet us on the SWIFT Stand
(D117) to discover our full Business Intelligence (BI) portfolio and visualise your own
data. Book time to also join our two auditorium sessions and listen to what our
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Monday 16 September, 11:00AM – Business Intelligence Auditorium Session Discover how SWIFT’s Business Intelligence solutions can create value for your
business activities. Listen to testimonials from experts in the financial industry and
learn about the new service lines SWIFT has developed. Keep up to date with the
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Thursday 19 September, 1:00PM – Business Intelligence for Compliance
Auditorium Session – Faced with an ever increasing need to monitor risk in relation to
compliance, banks need a consolidated view on their business but how can this be
achieved? Discover how Business Intelligence for Compliance will help banks
identify anomalies and increase their efficiency by putting the right controls in place
with factual evidence. We will demonstrate how using insights based on SWIFT traffic
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relations with correspondents and much more.

Unique Insights on RMB internationalisation - Business Intelligence at your
fingertips! Discover our RMB business intelligence offering that provides data beyond
the monthly RMB tracker. The ‘RMB Market Insights: a Business Intelligence report' is a
means to follow and track in detail the growth of RMB and its impact on the financial
industry as a whole. It excludes the traffic of central banks to reflect true RMB
movements between financial institutions serving their customers; this ‘RMB Market
Insights’ report provides market data for Payments, Trade Finance, Treasury and
Securities. Your analyses can be fine-tuned using Value Analyser, Watch Insights
and/or BI Consulting Services to gain business insights on your own RMB activity: your
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
The white paper RMB Internationalisation: Perspectives on the future of RMB
clearing was released at Sibos in Osaka on Monday 29 October 2012. The white
paper was created with contributions from Bank of America Merrill Lynch, Bank of
China (Hong Kong) Limited, Bank of Communications, Citibank, HSBC, J.P. Morgan,
The Royal Bank of Scotland and Standard Chartered Bank and explores the current
state of offshore RMB clearing, the progress towards offshore RMB clearing on a
country-by-country basis and considerations for future clearing models.
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Training on the guidelines so market participants can make use of the SWIFT MT
and ISO 15022 messages to facilitate STP processing of Offshore RMB products.
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RMB webpage - Find out more about the RMB internationalisation and how SWIFT
can support you in your RMB development strategy:
http://www.swift.com/products/renminbi/overview
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About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and
services to connect more than 10,000 banking organisations, securities institutions and corporate
customers in 212 countries and territories. SWIFT enables its users to exchange automated,
standardised financial information securely and reliably, thereby lowering costs, reducing operational
risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to
work collaboratively to shape market practice, define standards and debate issues of mutual interest.
For more information about SWIFT, please visit www.swift.com or follow us on Twitter:
@swiftcommunity and LinkedIn: SWIFT
About SWIFT RMB Tracker & RMB Internationalisation
Launched in September 2011, the SWIFT RMB Tracker provides monthly reporting on key
statistics to understand the progress made by RMB towards becoming an international currency.
To register for the RMB Tracker in English, Traditional or Simplified Chinese, visit swift.com
(select ‘Banks on SWIFT’) or e-mail [email protected].
For more information about RMB Internationalisation, please visit
http://www.swift.com/products/renminbi/overview or join our new ‘Business Intelligence
Transaction Banking’ LinkedIn group!
Disclaimer: This report is provided for information only. If the customer or any third party decides to take any
course of action or omission based on this report and/or any conclusion contained therein, they shall do so at their
own risk and SWIFT shall not be liable for any loss or damage, arising from their acts or omissions based on this
report and/or any recommendations contained therein.
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