男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

Make me your Homepage
left corner left corner
China Daily Website

Singapore to widen its RMB liquidity pool

Updated: 2013-07-19 01:09
By WANG XIAOTIAN ( China Daily)

Singapore to widen its RMB liquidity poolSingapore's central bank governor says the island state plans to widen its liquidity pool of the Chinese currency as part of extended efforts to turn itself into a major offshore yuan market.

Ravi Menon said the country is also developing hedging instruments as part of these efforts.

"The critical factors that will determine how well Singapore develops as an RMB hub are liquidity and a range of

hedging products," said Menon, managing director of the Monetary Authority of Singapore, the central bank and financial regulatory authority.

Singapore holds 100 billion yuan ($16.3 billion) in renminbi deposits and Menon expects the total to rise.

"The deposits will grow at a stronger pace over time, facilitated by the launch of the Industrial and Commercial Bank of China's Singapore RMB clearing facilities in May.

"With more liquidity, financial institutions will offer a wider range of RMB products and services to better meet the financing, investment and risk management needs of the market," he told China Daily.

Hong Kong, the largest offshore RMB center, which accounts for 70 percent of overseas yuan deposits, had deposits of 698.5 billion yuan up to May, according to the Hong Kong Monetary Authority.

Taiwan is catching up quickly, and yuan deposits there might increase to 100 billion to 150 billion yuan by the end of the year from 66 billion yuan now, according to a report by Standard Chartered Bank.

Menon said offshore RMB liquidity in Singapore should be interchangeable with RMB liquidity in other offshore centers.

"This will help ensure that surplus liquidity in one center can be channeled to meet the demand in another, thereby improving the efficiency of the overall RMB market.

"While there will no doubt be some competition among the major offshore RMB clearing centers, such as Hong Kong, London and Singapore, they will also play complementary roles in developing the offshore RMB market."

These initiatives will reduce the likelihood of liquidity strains in the offshore market when expectations that the yuan will depreciate run high, he said.

The appointment of offshore RMB clearing banks in Taiwan and Singapore has reduced liquidity friction by enlarging the liquidity pipeline between the Chinese mainland and the offshore RMB market. The establishment of RMB liquidity facilities in Hong Kong and Singapore means that "backstop facilities" can be provided should liquidity strains occur.

Menon said the Monetary Authority of Singapore has broadened the scope to provide RMB liquidity for market stability and will soon be widening the types of collateral that will be accepted.

The Singapore Exchange is ready to quote, trade, clear and settle RMB-denominated securities, Menon said.

Previous Page 1 2 Next Page

 
8.03K
 
...
主站蜘蛛池模板: 澄江县| 新泰市| 达日县| 北票市| 成武县| 平乡县| 绵竹市| 翁源县| 金寨县| 凌源市| 文登市| 桂阳县| 镇宁| 连城县| 玉门市| 宜兴市| 册亨县| 和平区| 唐河县| 类乌齐县| 从化市| 建阳市| 沂水县| 临朐县| 邵东县| 南投县| 乌海市| 石台县| 策勒县| 桑日县| 剑阁县| 高要市| 兴隆县| 宁德市| 科技| 龙胜| 府谷县| 久治县| 梧州市| 肥东县| 于田县|