The &#34;Northbound&#34; participants of Bond Connect can use eligible onshore bonds as collateral, and the arrangement for RMB repurchase transactions in Hong Kong has officially launched today.
HSBC stated that it has completed the first batch of offshore RMB bond repurchase transactions in the market for several banks, securities companies, and hedge funds, as well as other overseas and Hong Kong institutional investors.
Earlier, ICBC Asia, BOC HONG KONG, and STANCHART also announced that they have facilitated financial institution clients to use Bond Connect &#34;Northbound&#34; bonds as collateral for the first time to conduct RMB repurchase transactions in Hong Kong, supporting the People's Bank of China and the Hong Kong Monetary Authority in further improving the market-oriented arrangement mechanism for offshore RMB liquidity

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HSBC and other banks today launched offshore RMB repurchase transactions using Northbound Bond as collateral, completing the first batch of transactions for multiple overseas and Hong Kong institutional investors. ICBC Asia, BOC HONG KONG, and STANCHART also announced the first use of Northbound Bond for RMB repurchase for financial institution clients, supporting the People's Bank of China and the Hong Kong Monetary Authority in improving the offshore RMB liquidity market mechanism

香港电台网站

BOC HONG KONG-R

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Financial Institutions

HSBC and other banks completed offshore RMB repurchase transactions for clients using Northbound Connect bonds as collateral