BEIJING, Jan. 2 (Xinhua) -- China Securities Regulatory Commission (CSRC) expanded together with the Chinese central bank the pool of institutions eligible for the securities, funds, and insurance companies swap facility (SFISF), reported Xinhua Finance on Tuesday.
CSRC and the People's Bank of China (PBOC) took the move after the first batch of SFISF operations were completed and functioned well in contributing to maintaining the healthy and stable development of capital market in China.
Previously in October 2024, CSRC facilitated PBOC's initial SFISF operations, which, with an allotment amount of 50 billion yuan, drew bidding from 20 securities and fund firms.
CSRC and PBOC selected recently 20 more institutions eligible for the SFISF operation pursuant to results of classified appraisal, compliance and risk control practices, etc.
Currently, there are 40 institutions eligible for the SFISF operation and in each operation, about 20 ones will be picked from the 40 ones for related bidding.
Generally, SFISF allows eligible securities, funds and insurance companies to use their assets including bonds, stock exchange-traded funds and constituent stocks of the CSI 300 Index as collateral in exchange for highly liquid assets such as treasury bonds and central bank bills.
On December 31, 2024, the second batch of SFISF operations kicked off, said CSRC and by Tuesday, four securities brokers had already received replies from the CSRC, according to the report.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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