Regulatory Alerts2014-11-27
Added · Updated
Refinement of Overnight Repo under the Renminbi Liquidity Facility
The Hong Kong Monetary Authority introduced two refinements to the RMB Liquidity Facility effective 8 December 2014, extending operating hours to 6pm and implementing automated delivery-versus-payment settlement via the CMU system. Participating Authorized Institutions must utilize the CMU Member Terminal for transaction input and are required to have signed a tripartite Master Sale and Repurchase Agreement with the HKMA and the RMB Clearing Bank. Institutions lacking this agreement may continue using existing procedures until 31 December 2014 while arranging for its execution.
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