Banner trades open CNH HIBOR OTC market

Two landmark OTC trades based on the offshore renminbi interbank lending benchmark were readied last week. However, lack of overall liquidity meant the one-year deals were based on three-month lending data.

By Daniel Flatt

Jun 3, 2013

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The first interest rate swap (IRS) with a corporate client and the first cross-currency swap based on the Hong Kong offshore renminbi interbank lending benchmark were realised last week.

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