Friday, September 15, 2017
Deposit reserves no longer charged for CNH deposit in China
ANBOUND
After the adjustment of the foreign exchange risk reserve ratio to zero, sources said that the Chinese Central Bank has issued a notice that it no longer charges deposit reserves for the CNH deposit in China for foreign RMB participation banks and clearing banks. This will help to release offshore CNH's liquidity and reduce costs. Other than the Hong Kong and Macao RMB business clearing banks, the Central Bank no longer opens separate account for offshore RMB participation banks and clearing banks.