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Heurist Finance

PBOC launches 100 billion yuan swap facility to shore up A-shares

South China Morning Post ·
PBOC launches 100 billion yuan swap facility to shore up A-shares
  • The People's Bank of China announced a fresh round of a swap facility to support the A-share market after its worst sell-off in almost a decade.
  • The one-year swap lets institutional investors exchange illiquid assets for liquid ones with the central bank, which will use the liquid assets to buy stocks.
  • Thirty-one institutions have applied for the programme, with a combined size of 100 billion yuan (US$15.04 billion).

Quotes

“Thirty-one institutions have applied for the programme with combined size of 100 billion yuan (US$15.04 billion)”— People's Bank of China (PBOC) statement

Sources