CNH PLPs to reinforce Hong Kong as leading RMB hub
Seven banks have been designated as Primary Liquidity Providers (PLPs) for the offshore renminbi market in Hong Kong by the Hong Kong Monetary Authority (HKMA), the regulator said on November 3. The designation will allow the PLPs access to a dedicated repo facility of Rmb2bn ($327m) from the HKMA, to facilitate more efficient liquidity management and promote Hong Kong as a global RMB hub.
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