Arab Today, arab today singapore central bank to provide overnight rmb liquidity facility
Last Updated : GMT 22:02:29
Arab Today, arab today
Arab Today, arab today

Singapore central bank to provide overnight RMB liquidity facility

Arab Today, arab today

Arab Today, arab today Singapore central bank to provide overnight RMB liquidity facility

The Monetary Authority of Singapore
Singapore - XINHUA

The Monetary Authority of Singapore will introduce a facility to provide up to 5 billion renminbi (805 million U.S. dollars) in overnight liquidity to financial institutions in Singapore, it said on Friday.
The move is part of its measures to boost the fast-growing offshore RMB market.
The overnight facility, to be launched on July 1, will give financial institutions the assurance that their short-term RMB funding needs will be met, the central bank said.
The new facility will complement an existing facility that allows banks to borrow the Chinese currency on a term basis for trade, direct investment and market stability purposes.
MAS' announcement coincided with a directive issued by the Nanjing branch of the People's Bank of China (PBoC), China's central bank, that said eligible corporations and individuals in the Suzhou Industrial Park will be allowed to conduct cross-border RMB transactions with Singapore.
Banks in Singapore will be allowed to lend RMB to corporations in the Suzhou park. Firms at the park can issue RMB-denominated bonds in Singapore, while equity investment funds in the industrial park can directly invest in Singapore-based corporations.
"The introduction of cross-border RMB channels between Singapore and the Suzhou Industrial Park will facilitate greater financing for companies operating in the Suzhou Industrial Park, encourage direct investment in corporations in Singapore and broaden the range of RMB activities that can be conducted out of Singapore," said Jacqueline Loh, deputy managing director of the Monetary Authority.
"We look forward to similar arrangements being put in place in the near future to allow cross-border RMB transactions between Singapore and Tianjin Eco-City," she said.
Both the Suzhou Industrial Park and the Tianjin Eco-City are flagship mega cooperation projects involving the governments of China and Singapore.
Singapore is the second largest offshore clearing centre for transactions involving the RMB.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today singapore central bank to provide overnight rmb liquidity facility Arab Today, arab today singapore central bank to provide overnight rmb liquidity facility

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday