On March 24th, several bank wealth management subsidiaries recently launched the first batch of foreign currency repurchase business. According to the China Foreign Exchange Trading Center, since February this year, Hangyin Wealth Management, CMB Wealth Management, Xingyin Wealth Management, and Everbright Wealth Management have reached multiple foreign currency repurchase transactions using Shanghai Clearing House managed bonds as collateral through the trading center’s foreign exchange trading system. Industry insiders generally believe that the addition of wealth management subsidiaries has further enriched the types of participants in the interbank foreign currency repurchase market, providing new liquidity management tools and asset allocation channels for foreign currency wealth management products from the asset side. In addition, with the continuous optimization of the infrastructure of the foreign exchange market, the scale of the domestic foreign currency repurchase market is expected to further expand, and the efficiency of foreign currency fund allocation will also be further improved.
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