HKMA Designates Nine CNH Primary Liquidity Providers
The Hong Kong Monetary Authority (HKMA) announced today the designation of nine authorized institutions as Primary Liquidity Providers (PLPs) for offshore RMB for another term of two years, effective from 27 October 2022.
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Below are the nine PLPs:
Agricultural Bank of China Limited
Bank of China (Hong Kong) Limited
Bank of Communications Co., Ltd.
BNP Paribas
China Construction Bank (Asia) Corporation Limited
Hongkong and Shanghai Banking Corporation Limited
The Industrial and Commercial Bank of China (Asia) Limited
Standard Chartered Bank (Hong Kong) Limited
The regulator noted that it has reviewed the performance of these nine PLPs in the past two years, and considers that they are all active participants in the CNH market, and have been performing their PLP roles effectively.
The HKMA will continue to offer each of the PLPs a dedicated RMB repo facility of RMB2 billion, so as to facilitate their liquidity management when they carry out market-making activities and provide liquidity in the CNH market.
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