China allows RMB IR swaps
NEWS
The move is the latest in a series of measures by the central bank to liberalise the RMB derivatives market.
In a statement on its website, the PBoC said the decision to open up the RMB interest rate swaps market is in response to the need for participants in the interbank bond market to better manage interest rate risk, as well as their assets and liabilities. The PBoC added that the interbank bond market has developed rapidly in recent years, and investors holding large amounts of fixed-rate
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