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The People's Bank of China (PBoC) has launched a 500-billion-yuan (approximately USD71 billion) swap facility to provide liquidity to securities and insurance firms amid volatility in the Chinese mainland stock markets. This initiative allows brokers and insurers to pledge assets such as bonds, stock ETFs, and shares to obtain liquid assets like Treasury bonds. Notable firms such as CITIC Securities and CICC have already applied for the facility, with CICC hitting limit-up. The move aims to support the capital market and stabilize the financial sector following a recent two-day market retreat.
China’s Central Bank Launches USD71 Billion Liquidity Tool to Boost Stock Market https://t.co/Njg4TK3V53
Update: Amid a rollercoaster ride in the Chinese mainland’s stock markets, the PBOC formally launched a facility to help eligible financial institutions raise funds to buy shares. Here’s what you need to know. https://t.co/stzlu0uQyo
#Chinese #securities brokerage firms rebound in A-share market after two-day retreat, CICC hitting limit-up. PBOC on Thu launched Swap Facility to support capital market, with initial 500 bn yuan. It's reported CITIC Securities, CICC have applied for the facility.… https://t.co/psWPHjJt08
