HKMA expands offshore renminbi liquidity scheme
List of banks provided with liquidity for offshore renminbi market-making grows
Two years on from the scheme's launch, the Hong Kong Monetary Authority (HKMA) has expanded its list of "primary liquidity providers" (PLPs) in the offshore renminbi market.
The addition of Agricultural Bank of China and Bank of Communications brings the list to nine banks operating in Hong Kong. Each is given access to a dedicated repo facility up to a maximum of 2 billion yuan ($293 million).
PLP banks are expected to expand their market-making, with access to the additional liquidity designed
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