Bank of England expands swap line with China
Deal ups swap line to RMB350bn and extends it by three years
The Bank of England (BoE) has expanded its swap line with the People's Bank of China (PBoC) to a maximum of RMB350 billion ($55.1 billion), it announced today (October 21).
Under the deal, the swap line has also been extended for a further three years, running until 2018. When it was initially established in June 2013, it carried a maximum value of RMB200 billion.
"Constructive approach"BoE governor Mark Carney said the deal reflected the "constructive approach" taken by central banks to
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