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SWIFT banking system

Why is China reducing its U.S. debt holdings?

by Lily Jamali
Jul 19, 2022
China cuts it U.S. debt portfolio to under $1 trillion, possibly to support its currency or reduce exposure to potential U.S. sanctions.
One reason China may be shedding U.S. Treasurys is to control the depreciation of its currency, the yuan, which has lost value as the dollar has strengthened.
Olivier Douliery/AFP via Getty Images
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Could the U.S. have weakened its financial clout by using it to sanction Russia?

by Sabri Ben-Achour
Apr 4, 2022
Probably not, but Russia and China are likely to keep looking for ways to avoid U.S.-controlled financial infrastructure.
The U.S. has a lot of leverage in the global financial system — at least for now.
SSV-Photo/Getty Images
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I've Always Wondered ...

What exactly is the SWIFT banking system?

by Janet Nguyen
Mar 3, 2022
It allows financial institutions around the world to communicate quickly and efficiently. Seven Russian banks are being banned from the system.
A view of Bank Rossiya's headquarters in St. Petersburg, Russia. Bank Rossiya is one of seven banks that have been barred from the SWIFT messaging system.
Olga Maltseva/AFP via Getty Images
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Could China's payments system be a SWIFT workaround for Russia?

by David Brancaccio , Erika Soderstrom and Alex Schroeder
Mar 1, 2022
China's system is known as the Cross-Border Interbank Payments System, or CIPS for short.
China's CIPS interbank payments system is seen as a possible avenue for Russia after it was cut off from the more widely used SWIFT system.
ISAAC LAWRENCE/AFP via Getty Images
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How Russia could feel the sting of being excluded from SWIFT

by David Brancaccio and Rose Conlon
Feb 28, 2022
Being cut off from the SWIFT system means Russian banks can't legally or efficiently execute transactions.
A protester holds a placard during a rally against Russia's invasion of Ukraine, at Place de la Republique in Paris, on Febr. 26, 2022.
GEOFFROY VAN DER HASSELT/AFP via Getty Images
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