China allows renminbi interest rate swaps
The People's Bank of China (PBOC) issued regulations last month allowing banks to conduct renminbi-denominated interest rate swap transactions on a trial basis. The move is the latest in a series of measures by the central bank to liberalise the renminbi derivatives market.
In a statement on its website, the PBOC says the decision to open up the renminbi interest rate swaps market is in response to
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