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http://www.scoop.co.nz/stories/BU1104/S00565.htm RBNZ, People’s Bank of China Announce Currency Swap Facility Monday, 18 April 2011, 5:17 pm Press Release: Reserve Bank RBNZ, People’s Bank of China Announce Currency Swap Facility The People’s Bank of China (PBOC) and the Reserve Bank of New Zealand today announced the establishment of a reciprocal currency arrangement (swap line) to support the settlement in Chinese Renminbi (RMB) of trade transactions between New Zealand and Chinese businesses. The size of the swap facility is RMB 25 billion (NZD 5 billion) and has a three year maturity which may be extended if both parties agree. The facility gives the Reserve Bank the capacity to borrow RMB for use in rare situations where financial market disruption makes it difficult for businesses to access RMB to settle transactions with Chinese businesses. [....]

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