News Snapshot:
- A + A (June 25): The People’s Bank of China (PBOC) will create a yuan reserve pool with the Bank for International Settlements (BIS) and five other regulators to provide liquidity to participating economies in periods of market volatility. China along with Indonesia, Malaysia, Hong Kong, Singapore and Chile will each contribute a minimum of 15 billion yuan (US$2.2 billion or about RM9.87 billion) or US dollar equivalent to the so-called Renminbi Liquidity Arrangement, according to a PBOC statement on Saturday (June 25). The funds will be placed with the BIS. “When in need of liquidity, participating central banks...
