PBoC ups the ceiling for MNC X-border borrowing
Sep 29, 2015
Offshore X-border RMB financing "suspended"
*PBoC reportedly ordered offshore RMB clearing banks to halt cross-border financing
*India finance minister encourages banks to take over defaulting companies
* China MNCs better start getting used to IFRS
* And more…
PBoC reportedly suspends x-border RMB financing offshore
The People’s Bank of China (PBoC) ordered offshore renminbi clearing banks and related offshore participant banks to suspend trading in bond repos and renminbi account financing, three sources with direct knowledge of the matter told Reuters on November 18. The window guidance, issued on November 13 by the PBoC, aims to tighten up capital outflows, said the sources.
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