People's Bank of China Governor Pan Gongsheng on October 19 proposed a liquidity facility for large investor redemptions at nonbank institutions, aiming to stop bond sales from triggering further redemptions. It would be available to bank wealth management subsidiaries, public fund managers and their parent banks or securities firms, subject to macroprudential conditions and high-grade collateral. The PBOC also plans to broaden its Standing Lending Facility to locally incorporated foreign banks and nationwide banks. Under a separate pilot, eight offshore renminbi clearing banks could conduct proprietary trades in China's onshore interbank foreign-exchange market. The PBOC also intends to link the interbank and exchange bond markets after testing is complete.
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| Change that session | +0.13% |
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