China and eurozone renew €45 billion liquidity line
ECB says three-year swap deal will protect against disruptions in renminbi market
The European Central Bank has renewed its €45 billion ($52.7 billion) swap deal with the People’s Bank of China for another three years.
The ECB said in a statement today (September 8) that it had extended the swap arrangement as a backstop liquidity facility to address potential yuan shortages in eurozone banks. It added that the agreement would be in place until October 2028, and its conditions would remain unchanged from the ECB’s previous swap agreement with the PBoC.
The arrangement would
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Demand
Confidence in dollar undiminished since April, says BIS’s Shin
Institution’s head of monetary and economic policy says no hard evidence of shift from US currency
Europeans flock to cash during times of crisis – ECB research
Study highlights hard currency’s role as ‘spare’ tyre in payments system
UK government ‘must act against decline in cash acceptance’
Parliamentary committee suggests firms could be made to accept cash to protect those who rely on it
ECB could do more to internationalise euro – research
Becoming international lender of last resort, issuing safe assets could improve offshore use
Atlanta Fed clarifies contingencies ahead of hurricane season
Outages could affect bank supervision, discount window, cash, cheque and ACH processing
Ethiopian central bank orders branch reopening in conflict-affected areas
Banks must complete audits and collect non-performing loans
Demand for cash in turbulent times
Antti Heinonen analyses trends in cash use as Covid fades, but new shocks take its place
Kenyan governor denies shortage of small-denomination notes
Interior minister had claimed that politicians were draining supply to pay election bribes