PBoC and MAS extend $46bn swap line
Renewal of currency arrangement follows deepening of cross-border integration last year
The People’s Bank of China (PBoC) and the Monetary Authority of Singapore (MAS) have extended a mutual swap line to 2019.
The deal makes 300 billion yuan ($46.0 billion) available to Singapore-based financial institutions via the country’s central bank.
The renewal of the swap line, which was set up in 2010 and first extended in 2013, follows a string of initiatives between the PBoC and MAS announced during a state visit by Chinese president Xi Jinping in October.
Among other things, the
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