Regulatory Alerts2015-02-26
Added · Updated
Refinement of the Renminbi Liquidity Facility
The Hong Kong Monetary Authority is adjusting the interest calculation methods for the RMB Liquidity Facility effective 2 March 2015. Overnight repo rates will be set at the average of the three most recent TMA overnight CNH HIBOR fixings plus 50 basis points, while intraday repo rates will equal the average of those same fixings. Additionally, any intraday repo not repaid by 11:30 pm will automatically convert to an overnight repo subject to the new overnight interest formula.
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