China to allow for onshore bonds as collateral in shorter-time period forex trading borrowing – Reuters

SHANGHAI, Dec 11 (Reuters) – China’s forex trading industry operator mentioned on Wednesday that setting up subsequent week, Chinese onshore bonds can be made use of as collateral in shorter-time period overseas forex borrowing in a bid to reduced funding costs and facilitate lending.

The collateral-primarily based overseas forex repurchase settlement (repo) small business will be rolled out on Dec. 16, the China International Exchange Trade Program mentioned in a assertion on its website.

Permitting onshore bonds as collateral would also raise desire for this kind of securities, probably bolstering their value. (Reporting by Samuel Shen and John Ruwitch Modifying by Toby Chopra)

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