Tag: treasury markets association

The offshore renminbi interbank offered fixing rate is now in swing. Limited liquidity will impact the ability to produce hedging products on the back of it, at least for the short-term, experts note.

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.

The Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) both announced plans that could further open up the marketplace for offshore renminbi in Hong Kong.