外币回购业务创新有效缓解同业授信难题

Innovations of Foreign Currency Repo Effectively Ease Interbank Credit Line Difficulties

2019年12月,中国外汇交易中心联合上海清算所,推出以上海清算所托管的债券为抵押品的外币回购业务,作为外币信用拆借业务的有益补充。这一业务创新缓解了同业授信难题,便利业务操作流程,拓宽了中小机构的外币融资途径。文章提出了进一步完善该业务发展的相关建议,指出待美元流动性重新收紧时,外币回购业务必将真正发挥其在活跃市场交易方面的作用。

As a useful supplement to foreign currency credit lending,in December 2019,foreign currency repo was jointly launched by the China Foreign Exchange Trade System and the Shanghai Clearing House(SCH) with bonds under the custody of SCH as collaterals.This business innovation eased the difficulties of interbank credit line granting,facilitated business procedures,and broadened the foreign currency financing channels for small and medium-sized institutions.The article puts forward relevant suggestions on further development of the business,and points out that when the dollar liquidity turns tight again,the foreign currency repo business will play its role in enlivening the market.