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PBOC Launches First 500 Billion Yuan Swap Facility to Support Stock Market
Oct 10, 2024, 12:34 AM
China's central bank, the People's Bank of China (PBOC), announced on Thursday that it has established, for the first time, a Securities, Funds, and Insurance Companies Swap Facility (SFISF) with an initial scale of 500 billion yuan (US$71 billion). The SFISF is intended to support the healthy and stable development of the capital market by providing liquidity to equity-holding financial institutions. Eligible securities, fund, and insurance companies can use asset pledges, including bonds, stock exchange-traded funds (ETFs), and CSI300 stocks, to obtain liquidity from the facility.
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