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China’s central bank to conduct bill swap of 5 billion yuan -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Face masks are worn by people walking past People’s Bank of China’s headquarters, April 4, 2020. REUTERS/Tingshu Wang

BEIJING, (Reuters) – China’s central banks said Wednesday they would hold a bill swap between central banks on December 29

In a statement posted on its website, the People’s Bank of China said that bill swaps with a three-month tenor are worth $5 billion yuan (785.13 million).

It stated that the operation will improve liquidity for perpetual bonds as well as support banks in issuing the bonds to replace capital.

($1 = 6.3684 )

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