www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

Repo market opens to short-term foreign loans

(Agencies) Updated: 2015-06-05 09:32

China has opened a market for short-term loans to foreign banks, giving them access to cheaper yuan funding as policymakers encourage greater global use of the currency.

All overseas yuan clearing and settlement banks that participate in the interbank bond market can conduct repurchase agreements and move the funds abroad, the People's Bank of China said in a statement on Wednesday. There are 107 offshore lenders that can exchange debt with their local counterparts and the change will make repos possible for most of them, including HSBC Holdings Plc and Standard Chartered Plc.

The change comes as China seeks to bolster the case for the International Monetary Fund to grant the yuan reserve status later this year. The currency failed to qualify in a 2010 review because it wasn't deemed to be freely usable. Onshore interbank short-term money rates have fallen below that of Hong Kong after the PBOC reduced interest rates three times since November and cut major banks' reserve ratios twice this year.

"This latest move is to address the last few remaining major restrictions of China's capital account," said Suan Teck Kin, Singapore-based economist at United Overseas Bank Ltd. "The further opening of China's capital account will help lower offshore funding costs and improve offshore liquidity conditions, as China keeps its eye on the IMF's Special Drawing Rights."

"We are moving quickly toward a one currency, one curve system, as we have been expecting for a long time," said analysts led by Hong Kong-based Qu Hongbin at HSBC Holdings Plc on Thursday.

"The move will result in greater transmission of onshore monetary policy to the offshore market." The monetary authority has in the past year appointed yuan-clearing banks in 11 foreign cities, including Seoul, Sydney and Kuala Lumpur, choosing local branches of the Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Bank of China Ltd and Bank of Communications Co Ltd.

The PBOC started to allow central banks and overseas yuan clearing and settlement banks to invest in the domestic interbank bond market in 2010. Lenders including HSBC and Standard Chartered obtained licenses to conduct yuan settlement overseas in 2009.

The National Interbank Funding Center had 107 overseas lenders as members as of Wednesday, as well as 24 Qualified Foreign Institutional Investors and 91 Renminbi QFIIs, according to data posted on its website. The programs allow foreign currency and yuan raised offshore to be invested in the local market.

Overseas institutions held 712.8 billion yuan ($115 billion) of onshore bonds at the end of March, PBOC data show. That was only 1.9 percent of the 36.7 trillion yuan outstanding, according to Bloomberg.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 在线观看国产一区二区三区 | 国内主播福利视频在线观看 | 亚洲日韩中文字幕天堂不卡 | 日韩欧美~中文字幕 | 亚洲精品一区二区三区中文字幕 | 久久国产精品-久久精品 | 亚洲精品久久9热 | 国产精品亚洲第一区柳州莫青 | 欧美二区视频 | 成人午夜在线观看 | 中文字幕在线看片成人 | 久热精品6 | 国产日韩欧美一区二区 | 飘花国产午夜精品不卡 | 国产精品久久久久久久专区 | 免费国产高清精品一区在线 | 国产在线播放一区 | 国产精品免费视频一区 | 草草影院在线播放 | 一本久综合久久爱 | 欧美成人午夜影院 | 日本成aⅴ人片日本伦 | 亚洲精品成人一区二区www | 男人天堂国产 | 亚欧国产 | 精品一区二区三区在线观看 | 国产高清一级毛片在线不卡 | 成人国产精品一级毛片视频 | 国产亚洲综合精品一区二区三区 | 狠狠色丁香婷婷久久综合考虑 | 久久影院视频 | 18视频免费网站 | 99re6热视频精品免费观看 | 久久91视频| 中文字幕无线码中文字幕网站 | 五月色一区二区亚洲小说 | 色综合久久久久久888 | 国产视频自拍一区 | 久草免费手机视频 | 欧美不卡视频 | 看全色黄大色黄大片毛片 |