MAS renews bilateral currency swap arrangement with People’s Bank of China

The arrangement will be renewed for five more years.

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) renewed the Bilateral Currency Swap Arrangement (BCSA) for a further term of five years or until 2027.

The BCSA, which was first signed in 2010, has been a key pillar of cooperation between MAS and PBC and helps to strengthen regional economic resilience and financial stability. Under the arrangement, MAS and PBC can access liquidity in each other’s currencies to support the financing of trade and investment, and to stabilise financial markets. 

READ MORE: MAS mulls additional consumer protection safeguards for crypto trading

Up to CN¥300b in Chinese Yuan liquidity and $65b in Singapore Dollar liquidity will be available to financial institutions operating in Singapore and China respectively.

The BCSA renewal was signed by MAS Managing Director Ravi Menon and PBC Governor
Yi Gang and was effective from 13 July 2022.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!