SHANGHAI, Dec 11 (Reuters) - China’s forex market operator said on Wednesday that starting next week, Chinese onshore bonds can be used as collateral in short-term foreign currency borrowing in a bid to lower funding costs and facilitate lending.
The collateral-based foreign currency repurchase agreement (repo) business will be rolled out on Dec. 16, the China Foreign Exchange Trade System said in a statement on its website.
Allowing onshore bonds as collateral would also increase demand for such securities, potentially bolstering their value. (Reporting by Samuel Shen and John Ruwitch; Editing by Toby Chopra)
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December 11, 2019 at 04:39PM
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China to allow onshore bonds as collateral in short-term forex borrowing - Reuters
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