Bank of China and Bank of Communications signed agreements with HSBC Holdings in Hong Kong to settle cross-border trade in renminbi, the Wall Street Journal reported. The agreements will allow the Hong Kong-based banks to buy or borrow the Chinese currency from mainland banks. Beijing and Hong Kong last week agreed to let the renminbi be used to settle trades between Hong Kong and several mainland cities. Bank of China said in a statement released over the weekend that it has signed similar agreements with Bank of China (Hong Kong) and Standard Chartered in Hong Kong. Bank of Communications said it has signed an agreement with Hang Seng Bank. The mainland banks said they had also signed settlement agreements with a number of banks in Southeast Asia.