Regulatory Alerts2010-08-17
Added · Updated
HKMA Circular on Renminbi Interbank Bond Market Pilot Scheme
The Hong Kong Monetary Authority informed authorized institutions that the People’s Bank of China has launched a pilot scheme allowing eligible offshore institutions to invest in Mainland China’s interbank bond market. Authorized institutions engaging in cross-border RMB trade settlement may participate through a Settlement Agent subject to PBoC approval and individual quotas, while strictly adhering to Mainland regulations that prohibit transactions with group companies. The HKMA requires these institutions to implement effective internal controls, keep the regulator informed of their application progress, and comply with all relevant rules governing this new investment channel.
Topics
Share