银发[2005]201号 中国人民银行关于扩大外汇指定银行对客户远期结售汇业务和开办人民币与外币掉期业务有关问题的通知

Circular on expanding designated banks' forward FX sale and purchase business and launching RMB/ foreign currency swap business

为建立和完善社会主义市场经济体制，充分发挥市场在资源配置中的基础性作用，满足围内经济主体规避汇率风险的需要，中国人民银行决定扩大外汇指定银行远期结售汇业务和开办人民币与外币掉期业务（以下简称掉期业务）。现就有关问题通知如下：

The PBC issued a circular on expanding designated banks＇ forward FX sale and purchase business and launching RMB/foreign currency swap business on August 10, According to the circular, any bank qualified for spot FX sale and purchase business and derivatives trading business can participate in forward FX sale and purchase business after filing. Backs are allowed to quote to clients and decide trading maturities and rollover times at their discretion. Trading scope is expanded to cover all current account and some capital and financial account transactions. The circular also allows banks to open RMB/foreign currency swap business not covering interest rate swaps.