{
  "id": 14387293,
  "title": "Hong Kong’s clearing bank gains new funding access in yuan push",
  "url": "https://urgent.news/2026/10/14/hong-kongs-clearing-bank-gains-new-funding-access-in-yuan-push-14387293",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T06:23:43.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/banking-finance/hong-kongs-clearing-bank-gains-new-funding-access-yuan-push"
  },
  "original_language": "en",
  "account": "Bank of China (Hong Kong), the city's only yuan clearing bank since 2003, has announced plans to issue up to 22.2 billion yuan (US$3.3 billion) in interbank negotiable certificates of deposit (NCDs) this year. The bank has received approval for a quota to issue these onshore NCDs, marking the first time an offshore yuan-clearing bank will gain such authorization. The move aims to strengthen Hong Kong's role as a hub for yuan business and promote the currency's global status. Frances Cheung, head of foreign exchange and rates strategy at Oversea-Chinese Banking Corp, believes the new funding channel will improve offshore liquidity and potentially help anchor offshore yuan rates. The PBOC has also raised the cap on offshore loans for some banks, contributing to the growing liquidity in Hong Kong. The amount of yuan deposits in the city reached a record high near 1.14 trillion yuan in May, with the PBOC supporting the bank to obtain yuan funds through various channels in the mainland, including NCDs, to boost offshore liquidity.",
  "summary": "Bank of China (Hong Kong)’s plan entails issuing up to US$3.3 billion of negotiable certificates of deposit this year",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "Hong Kong’s Clearing Bank Gains New Funding Access in Yuan Push",
        "url": "https://urgent.news/2026/10/14/hong-kongs-clearing-bank-gains-new-funding-access-in-yuan-push",
        "published": "2026-10-14T04:41:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}