HKMA designates Primary Liquidity Providers and expands scheme

The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) announced today (October 23) the designation of twelve banks as Primary Liquidity Providers (PLPs) for offshore renminbi (RMB) market in Hong Kong (i.e. CNH market) for a two-year term, with effect from October 27, 2026 following the expiry of the current term, and the increase in the total amount of RMB liquidity available in the PLP Scheme. The twelve PLPs are: Agricultural Bank of China Limited Bank of China (Hong Kong) Limited Bank of Communications Co., Ltd. BNP Paribas China CITIC Bank International Limited China Construction Bank (Asia) Corporation Limited Citibank, N.A. Deutsche Bank AG Hang Seng Bank, Limited Hongkong and Shanghai Banking Corporation Limited, The Industrial and Commercial Bank of China (Asia) Limited Standard Chartered Bank (Hong Kong) Limited The PLP selection was based on a range of criteria, including the institution's capability in providing CNH funding and making market for CNH instruments, and commitment to using Hong Kong as a global hub for offshore RMB business. As the result of the designations, the total RMB repo facility dedicated to a

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