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HKMA Unveils Participating Banks for RMB Trade Financing Liquidity Facility in Phase 1
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The Hong Kong Monetary Authority (HKMA) announced today (28th) the list of banks for the RMB Trade Financing Liquidity Facility (RMB TFLF) in Phase 1, effective from today. The first phase of banks participating in the RMB TFLF includes Agricultural Bank of China, ANZ Bank, Bank of China (Hong Kong), Bank of Communications, Bank of Communications (Hong Kong), Bank of East Asia, BNP Paribas, CITIC Bank International, China Construction Bank (Asia), China Construction Bank, China Everbright Bank, China Minsheng Bank, Chong Hing Bank, DBS Bank (Hong Kong), DBS Bank, Deutsche Bank, Hang Seng Bank, HSBC Hong Kong, Industrial and Commercial Bank of China (Asia), Maybank, Nanyang Commercial Bank, Shanghai Pudong Development Bank, Standard Chartered Bank (Hong Kong), and United Overseas Bank. About RMB50 billion of the total size of RMB100 billion of this facility has been allocated to the participating banks. A specific quota is assigned to each bank based on the pipelines as expected by the bank, and referencing the bank's existing scale of relevant business, among other factors. The banks can now apply for RMB funds from the HKMA from today through the RMB TFLF based on their provision of RMB trade finance to corporate customers within the assigned quota. AAStocks Financial News |
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