People's Bank of China, Circular on Issues Relevant to the Launch of Swap Transactions Between Renminbi and Foreign Currencies in the Interbank Foreign Exchange Market

中国人民银行关于在银行间外汇市场开办人民币外汇货币掉期业务有关问题的通知

September 02, 2007 | BY

clpstaff &clp articles

PBOC launches swaps between renminbi and foreign currencies.

Issued: August 17 2007
Effective: As of date of issuance

Applicability: The phrase "swap between renminbi and a foreign currency" refers to a transaction agreement on the exchange of the renminbi principal and foreign currency principal of a specified amount within a specified period of time and the periodic exchange of the interests derived from both currencies (Article 1).

Main Contents: Swaps between renminbi principal and foreign currency principal shall be conducted in the following ways:

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