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The Chinese Interbank Repo Market

Author

Listed:
  • Ross Kendall

    (Reserve Bank of Australia)

  • Jonathan Lees

    (Reserve Bank of Australia)

Abstract

The market for repurchase agreements (repos) is an important source of short-term funding for financial institutions operating in China. This article outlines the key features of Chinese repo markets, focusing on the interbank market, before discussing recent developments and their impact on the bond market. Repo rates have fallen and become less volatile over the past couple of years, encouraging greater risk-taking in financial markets. Policy settings in China have both shaped and responded to these developments.

Suggested Citation

  • Ross Kendall & Jonathan Lees, 2017. "The Chinese Interbank Repo Market," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 75-86, June.
    • Handle: RePEc:rba:rbabul:jun2017-09
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2017/jun/pdf/bu-0617-9-the-chinese-interbank-repo-market.pdf
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    Citations

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    Cited by:

    1. Daniela Gabor, 2018. "Goodbye (Chinese) Shadow Banking, Hello Market†based Finance," Development and Change, International Institute of Social Studies, vol. 49(2), pages 394-419, March.
    2. Xu, Xiaoqing Eleanor, 2021. "Dissecting the segmentation of China's repo markets," Pacific-Basin Finance Journal, Elsevier, vol. 70(C).

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