China's Central Bank to Organize Second Round of Clearing for Securities, Funds, and Insurance Companies in the Near Future

Forex - The People's Bank of China will conduct a second settlement for securities, fund, and insurance companies in the near future. The PBOC has expanded the institutions eligible for participation in the settlement. The People's Bank of China established the "Securities, Funds, and Insurance Company Settlement Facilitation (SFISF)" in October, aimed at supporting eligible securities, funds, and insurance companies to exchange high-quality liquid assets such as treasury bonds and central bank bills for collateralized assets like bonds, stock ETFs, and stocks comprising the CSI 300 Index. The initial operational scale was set at 500 billion yuan. The central bank completed the first operation of the SFISF on Tuesday, October 22, with a scale of 50 billion yuan.