The People’s Bank of China said it will conduct a swap facility operation for securities, fund, and insurance companies on Nov. 3, according to a notice issued by its open market operations office. The central bank said the move is intended to support the healthy and stable development of the capital market. The facility will carry a one-year term and may be extended depending on circumstances. So far, 31 securities and fund companies have submitted applications, with requested quotas exceeding 100 billion yuan. The notice did not provide additional operational details in the brief announcement cited by ChainCatcher.
The People’s Bank of China said it will carry out a swap facility operation for securities, fund, and insurance companies on Nov. 3, according to a notice from the central bank’s open market operations office.
The notice said the operation is aimed at supporting the healthy and stable development of the capital market. The swap term will be one year and may be extended depending on circumstances.
So far, 31 securities and fund companies have submitted demand applications, with requested quotas exceeding 100 billion yuan.
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