- currency structure of foreign debt should be considered As China further opens to the outside world, the size of foreign debt incurred continue to grow significantly. By the end of last year, China’s foreign debt reached $ billion with the origins increasingly diversified. In most cases, foreign debt repayment would require purchasing a specific foreign currency with RMB.
This clarification on the SEPA Cards Framework brings more clarity on what SEPA represents for the payment cards in Europe. I expect that this is only a first step of the banking industry in enforcing their communication vis-à-vis their users and that the work of the banking industry on this crucial projects get more visibility in the months to come.