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HSBC Pours $3 Billion Into India Bonds as Diaspora Dollars Drive Down Borrowing Costs

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‼️ 🇮🇳 HSBC Holdings has deployed at least $3 billion into Indian government bonds since July, primarily in the 5-year maturity segment, as it seeks to invest funds raised under the Reserve Bank of India’s FCNR(B) diaspora dollar deposit program. The UK lender has mobilized over $10 billion through the scheme—outpacing global peers with $6.3 billion collected by July 30—while foreign banks have collectively raised $65.4 billion. Such inflows into sovereign debt, particularly shorter-duration bonds, are expected to help lower corporate borrowing costs in India.

Xi’s Anti-Graft Drive Goes Global as China Weighs Overseas Corruption Crackdown

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‼️ 🇨🇳 China’s top legislature is reviewing a draft Anti-Cross-Border Corruption Law that would formally empower authorities to pursue corruption cases overseas, extending President Xi Jinping’s sweeping anti-graft campaign beyond China’s borders. The National People’s Congress Standing Committee began its first reading of the bill during its Tuesday-to-Friday session, with the legislation designed to codify Beijing’s existing cross-border anti-corruption practices.

U.S. Tightens Iran Sanctions on China, Spares Major Banks

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🇭🇰 🇨🇳 The Trump administration’s latest Iran sanctions target dozens of individuals and entities in China and Hong Kong under Treasury Secretary Scott Bessent’s “Operation Economic Outcast,” aiming to cut off Tehran’s remaining financial lifelines while deliberately avoiding major Chinese banks to limit broader economic and diplomatic fallout. The move mirrors earlier U.S. enforcement patterns seen in Russia-related sanctions and signals Washington’s intent to raise the cost of doing business with Iran without triggering the systemic risks that would come from sanctioning large Chinese financial institutions.