MAS renews bilateral currency swap arrangement with People’s Bank of China

The arrangement will be renewed for five more years.

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) renewed the Bilateral Currency Swap Arrangement (BCSA) for a further term of five years or until 2027.

The BCSA, which was first signed in 2010, has been a key pillar of cooperation between MAS and PBC and helps to strengthen regional economic resilience and financial stability. Under the arrangement, MAS and PBC can access liquidity in each other’s currencies to support the financing of trade and investment, and to stabilise financial markets.

Up to CN¥300b in Chinese Yuan liquidity and $65b in Singapore Dollar liquidity will be available to financial institutions operating in Singapore and China respectively.

The BCSA renewal was signed by MAS Managing Director Ravi Menon and PBC Governor
Yi Gang and was effective from 13 July 2022.

Follow the link for more news on

MAS

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia