PBOC launches $15b swap facility to support A-share market after sell-off
Briefing by News4U · First published
SCMP Business reported that China’s central bank announced on Monday it would start a fresh round of a swap facility to support the struggling A-share market, after its worst sell-off in almost a decade dealt a heavy blow to investor confidence and threatened to bring new risks to the country’s financial system. The People’s Bank of China (PBOC) would have a one-year swap that allows institutional investors to exchange illiquid assets for liquid ones with the central bank to buy stocks, according to its announcement. [1]
Sources
- Beijing launches US$15b asset swap to support China’s markets after sell-off
SCMP Business · · Summary only