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HSBC: New Measures by HKMA, PBOC to Help HK Mortgage Finance Mkt Flourish
The Hong Kong Monetary Authority (HKMA) and the People's Bank of China (PBOC) yesterday (13th) announced new measures to further deepen the Stock Connect between the financial ...
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HSBC: New Measures by HKMA, PBOC to Help HK Mortgage Finance Mkt Flourish
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The Hong Kong Monetary Authority (HKMA) and the People's Bank of China (PBOC) yesterday (13th) announced new measures to further deepen the Stock Connect between the financial markets of Hong Kong and mainland China, allowing offshore investors to use onshore bonds held under Bond Connect as eligible margin collateral at the OTCC, and developing the CNH repurchase business that uses onshore bonds as collateral.

HSBC welcomes the new measures to further expand the application scenarios of onshore bonds in the offshore market, on the one hand, allowing onshore treasury bonds and policy financial bonds to be used as performance collateral in derivatives trading at HKEX's OTCC, and on the other hand, developing CNH buyback business using onshore bonds as collateral, William Shek, Head of Markets and Securities Services of Hong Kong at HSBC, said.

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The move is conducive to the more vigorous development of Hong Kong's mortgage finance market and marks another milestone in the internationalization of RMB.

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