X-border RMB cash pool outflow ban catches CTs off guard
As the People’s Bank of China steps up its curb on capital outflows, it has U-turned on its well-publicised cross-border renminbi cash pooling policy. Spooked treasurers are tackling the issue head on.
The People’s Bank of China (PBoC) gave banks window guidance by video conference on January 18 to announce the suspension of net outflow of capital from the cross-border renminbi cash pools in the country, a Shanghai-based bank source told CT on January 19.
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