Payments Monitor

Good morning, welcome to Payments Monitor, my name is Faisal Khan, today is the 26th of October 2015, some stories for today are: TOP STORIES Trouble is brewing for Deutsche Bank as the US Justice Department and the New York Department of Financial Services are expanding their probe of money laundering at the German Bank’s Moscow unit to what now may seem like potential breach of Western sanctions against Russia after its 2014 annexation of Crimea. The US Dollar trades being investigated amount to US$ 6 Billion. Some good news for China in the coming days, the International Monetary Fund have given strong signals that the Chinese Yuan could soon join the fund’s basket of reserve currencies, better known as Special Drawing Rights. SDRs were created in 1969 to boost global liquidity as the Bretton Woods system of fixed exchange rates unravelled. Champagne bottled are undoubtedly being uncorked at VocaLink, the British firm behind UK’s Faster Payments, as it signed a letter of intent with US bank based ACH