Korea introduces RMB discount window
Bank of Korea to launch emergency liquidity facility offering Chinese currency
Korea's central bank will launch a formal discount window for the renminbi on July 1, in a decisive step towards cementing the RMB's status as a settlement currency in China's fourth-largest trading partner.
The new liquidity facility, which will be underpinned by the Bank of Korea's (BoK) swap line with the People's Bank of China (PBoC), will serve to ease "tightness in the domestic RMB market" in times of stress, the central bank said on June 29.
The BoK and PBoC have a swap arrangement in
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