The People's Bank of China (PBC) and the Hong Kong Monetary Authority (HKMA) today jointly announced plans to establish a mutual market access scheme to connect the Mainland China and Hong Kong bond markets (Bond Connect). Through the bridging of related Mainland and Hong Kong financial infrastructure institutions, investors in one market will be able…
Read morePeople's Bank of China (PBOC) on Monday published details regarding regulations of the booming online payments sector, which are set to come into effect on July 1, 2016. The new rules restrict the size of payments done from non-bank payment accounts and introduce certain requirements for registration. In particular, the size of payments through such…
Read moreThe European Central Bank (ECB) and the People’s Bank of China (PBOC) today announced the successful testing of their bilateral currency swap arrangement. The arrangement was established in October 2013, with a maximum size of RMB 350 billion and EUR 45 billion. As part of the ECB’s plan to regularly test its operational capabilities, the…
Read more