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China: Central Bank Swaps To Mongolia, 2011, Vincient Arnold Jul 2023

China: Central Bank Swaps To Mongolia, 2011, Vincient Arnold

Journal of Financial Crises

Starting in 2009, China began to rapidly expand its network of central bank swap lines. In May 2011, the People’s Bank of China (PBOC) and the Bank of Mongolia (BOM) agreed to a bilateral reciprocal swap line to promote trade and economic development and to stabilize financial markets with short-term liquidity. The agreement stipulated caps of 5 billion renminbi (RMB; USD 0.8 billion) when the BOM was the borrowing party and 1 trillion Mongolian tugrik (MNT; USD 0.8 billion) when the PBOC was the borrowing party. By 2020, the PBOC had expanded the caps to RMB 15 billion and the …


China: Central Bank Swap To Hong Kong Monetary Authority, 2009, Vincient Arnold Jul 2023

China: Central Bank Swap To Hong Kong Monetary Authority, 2009, Vincient Arnold

Journal of Financial Crises

Starting in 2008, the People’s Bank of China (PBOC) began to grow a global network of central bank swap lines, announcing six in 2008–09 alone. The largest of those lines, in January 2009, was a 200 billion renminbi (RMB; USD 29.2 billion) swap line to the Hong Kong Monetary Authority (HKMA). The PBOC and HKMA, in similarly worded announcements, mentioned two goals of the swap arrangement: to promote renminbi-denominated trade settlement in Hong Kong and to promote financial stability in Hong Kong and the region. Hong Kong was the most important offshore financial center for trading renminbi-denominated securities, and the …


China: Central Bank Swaps To Argentina, 2014, Vincient Arnold Jul 2023

China: Central Bank Swaps To Argentina, 2014, Vincient Arnold

Journal of Financial Crises

In 2014, Argentina’s economy faced multiple crises: recession, currency devaluation, default, and inflation. In July 2014, the People’s Bank of China (PBOC) and the Central Bank of Argentina (BCRA) entered into a bilateral currency swap agreement with a three-year term for 70 billion renminbi (RMB; USD 11 billion). The swap line was meant to promote trade and development, facilitate investment in the renminbi, and boost Argentina’s foreign reserves. In December 2014, Argentina’s central bank drew on the line for a total of USD 1.5 billion worth of renminbi. In 2015, the central bank made three draws for a total of …


China As An International Lender Of Last Resort, Sebastian Horn, Bradley C. Parks, Carmen M. Reinhart, Christoph Trebesch Mar 2023

China As An International Lender Of Last Resort, Sebastian Horn, Bradley C. Parks, Carmen M. Reinhart, Christoph Trebesch

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No abstract provided.


Press Releases, Hong Kong Monetary Authority Feb 2023

Press Releases, Hong Kong Monetary Authority

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Hong Kong Monetary Authority press release database, RMB Liquidity Facility category selection.


Usage Of Renminbi Liquidity Facility, Hong Kong Monetary Authority Feb 2023

Usage Of Renminbi Liquidity Facility, Hong Kong Monetary Authority

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No abstract provided.


Organization Of The State Council, People's Daily Jan 2023

Organization Of The State Council, People's Daily

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No abstract provided.


Management Team Of The People's Bank Of China, People's Bank Of China Jan 2023

Management Team Of The People's Bank Of China, People's Bank Of China

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No abstract provided.


State Council News Archive: Argentina Press Releases, 2014-2015, People's Bank Of China: The State Council Jan 2023

State Council News Archive: Argentina Press Releases, 2014-2015, People's Bank Of China: The State Council

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No abstract provided.


El Bcra Y El Pbc Confirman Activacion Especial Del Swap De Monedas, Argentina: Banco Central De La República Jan 2023

El Bcra Y El Pbc Confirman Activacion Especial Del Swap De Monedas, Argentina: Banco Central De La República

Documents

No abstract provided.


China: Reserve Requirements, 2015–2016, Carey K. Mott Dec 2022

China: Reserve Requirements, 2015–2016, Carey K. Mott

Journal of Financial Crises

After China devalued the renminbi against the US dollar in August 2015, Chinese equity markets experienced a significant drop that spilled into international markets. The People’s Bank of China (PBOC) adjusted the reserve requirement ratio (RRR) five times between February 2015 and October 2015: three times before the market turmoil, to allocate credit to preferred sectors, and twice in response to the crisis to release liquidity into the financial system. Throughout this cycle, the central bank applied lower RRRs to rural credit institutions, agricultural lenders, leasing and financing companies, and other sectors in which government policy promoted lending. Although the …


China: Reserve Requirements, Gfc, Carey K. Mott Dec 2022

China: Reserve Requirements, Gfc, Carey K. Mott

Journal of Financial Crises

In 2008, China experienced several natural disasters that slowed economic growth, and fearing contagion from the Global Financial Crisis (GFC), the central bank cut the reserve requirement ratio (RRR) three times for large financial institutions, to 15.5%, and four times for small and medium-size financial institutions, to 13.5%. This monetary easing, combined with a USD 586 billion fiscal stimulus package, caused explosive credit growth in China. One year after these RRR cuts, the central bank hiked the ratio 12 times, to a historically high 21.5% for large banks in June 2011; however, it maintained a different ratio for rural credit …


Argentina Strikes $5 Billion China Currency Swap Extension, Eliana Raszewski, Maximilian Heath Nov 2022

Argentina Strikes $5 Billion China Currency Swap Extension, Eliana Raszewski, Maximilian Heath

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No abstract provided.


Hkma Designates Nine Cnh Primary Liquidity Providers, Hong Kong Monetary Authority Oct 2022

Hkma Designates Nine Cnh Primary Liquidity Providers, Hong Kong Monetary Authority

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No abstract provided.


Argentina Product Exports And Imports To China, World Bank/World Bank Group Sep 2022

Argentina Product Exports And Imports To China, World Bank/World Bank Group

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No abstract provided.


Pboc Swap Agreements | Inquiry, Vincient Arnold, Daniel Mcdowell Sep 2022

Pboc Swap Agreements | Inquiry, Vincient Arnold, Daniel Mcdowell

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No abstract provided.


Swap: El Enigmatico Acuerdo De Intercambio De Monedas Con China, Paula Urien Aug 2022

Swap: El Enigmatico Acuerdo De Intercambio De Monedas Con China, Paula Urien

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No abstract provided.


Is Capital Account Convertibility Required For The Renminbi To Acquire Reserve Currency Status?, Barry Eichengreen, Arnaud Mehl, Eric Monnet, Alain Naef Jul 2022

Is Capital Account Convertibility Required For The Renminbi To Acquire Reserve Currency Status?, Barry Eichengreen, Arnaud Mehl, Eric Monnet, Alain Naef

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No abstract provided.


Nancai Quick Review: An Important Step In Currency Standing Swap - 21 Finance, Cao Yubo Jul 2022

Nancai Quick Review: An Important Step In Currency Standing Swap - 21 Finance, Cao Yubo

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Other Relevant Crises: European Sovereign Debt Crisis (2008 - 2012) and COVID-19 Pandemic ( 2020- Present)


Enhanced Currency Swap Agreement Between People's Bank Of China And Hong Kong Monetary Authority (7/4/2022), Hong Kong Monetary Authority Jul 2022

Enhanced Currency Swap Agreement Between People's Bank Of China And Hong Kong Monetary Authority (7/4/2022), Hong Kong Monetary Authority

Documents

Other Relevant Crises: Global Financial Crisis ( 2007-2009) and European Sovereign Debt Crisis (2008 - 2012).


Enhanced Currency Swap Agreement Signed Between Pboc, Hkma, People's Bank Of China: The State Council Jul 2022

Enhanced Currency Swap Agreement Signed Between Pboc, Hkma, People's Bank Of China: The State Council

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Other Relevant Crises: Global Financial Crisis (2007-2009)


Jumpstarting An International Currency, Saleem Bahaj, Ricardo Reis Jul 2022

Jumpstarting An International Currency, Saleem Bahaj, Ricardo Reis

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No abstract provided.


Bis Announces Renminbi Liquidity Arrangement, Bank For International Settlements (Bis) Jun 2022

Bis Announces Renminbi Liquidity Arrangement, Bank For International Settlements (Bis)

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No abstract provided.


La Ampliacion Del Swap Con China Habilitara Pagos De Importaciones Y Deuda, Andrés Lerner Mar 2022

La Ampliacion Del Swap Con China Habilitara Pagos De Importaciones Y Deuda, Andrés Lerner

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No abstract provided.


La Argentina Pidio A China Ampliar El Swap De Monedas En Usd 3.000 Millones Para Fortalecer Sus Reservas / Argentina Asked China To Extend The Currency Swap By Usd 3,000 Million To Strengthen Its Reserves, Infobae Jan 2022

La Argentina Pidio A China Ampliar El Swap De Monedas En Usd 3.000 Millones Para Fortalecer Sus Reservas / Argentina Asked China To Extend The Currency Swap By Usd 3,000 Million To Strengthen Its Reserves, Infobae

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No abstract provided.


Global Debt Database - Central Government Debt, International Monetary Fund (Imf) Jan 2022

Global Debt Database - Central Government Debt, International Monetary Fund (Imf)

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No abstract provided.


Annual Report 2021, Hong Kong Monetary Authority Jan 2022

Annual Report 2021, Hong Kong Monetary Authority

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No abstract provided.


2021 General Sdr Allocation, International Monetary Fund (Imf) Aug 2021

2021 General Sdr Allocation, International Monetary Fund (Imf)

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No abstract provided.


“When Boys Become The Second Sex”: The New Gender Gap Among Chinese Middle School Students, Ruqing Xu Aug 2021

“When Boys Become The Second Sex”: The New Gender Gap Among Chinese Middle School Students, Ruqing Xu

The Yale Undergraduate Research Journal

This paper studies the gender gap in academic achievement using a nationally representative survey of middle school students in China. Chinese girls outperform boys in Mathematics, Chinese, and English by 13.5%, 62.1%, and 61.5% of a standard deviation, respectively, which is one of the largest gender gaps in the world. Using the OLS regression with interactions between gender and family-, teacher-, and school-level variables, I show that girls benefit from having a same-sex teacher in Mathematics and Chinese. For boys, however, the effect of sex congruence with the subject teacher is insignificant in all three subjects. Girls’ resilience in the …


Evolution Of Bilateral Swap Lines, Michael Perks, Yudong Rao, Jongsoon Shin, Kiichi Tokuoka Aug 2021

Evolution Of Bilateral Swap Lines, Michael Perks, Yudong Rao, Jongsoon Shin, Kiichi Tokuoka

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No abstract provided.