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Insurance Companies Swap FacilityGlobal Times
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78% Informative
The People's Bank of China ( PBC ), the central bank, announced on Thursday the launch of a 500 billion yuan ( $70.61 billion ) swap facility that allows eligible financial institutions to use assets as collateral to secure liquidity.
The facility allows eligible securities, fund and insurance companies in swapping their holdings of bonds, stock exchange-traded funds (ETFs), and constituent stocks of the CSI 300 Index to use as collateral for high-liquidity assets like government bonds and central bank bills.
The funds obtained under this facility can only be used for investing in the stock market.
VR Score
88
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94
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