The People's Bank of China renewed three bilateral local currency swap agreements with the European Central Bank, the Swiss National Bank and the National Bank of Hungary during the Bank for International Settlements Governors’ Meeting, and discussed the international economic and financial outlook and bilateral financial cooperation. The China-EU swap line was renewed at CNY 350 billion/EUR 45 billion for a three-year term. The China-Switzerland swap line was renewed at CNY 150 billion/CHF 17 billion for a five-year term, and the China-Hungary swap line at CNY 40 billion/HUF 1.9 trillion for a five-year term. The central bank framed the renewals as supporting deeper monetary and financial cooperation, facilitating bilateral trade and investment, and helping maintain financial market stability.
Central Bank of the Republic of China 2025-09-08
People's Bank of China renews local currency swap agreements with the European Central Bank, Swiss National Bank and National Bank of Hungary
The People's Bank of China renewed bilateral local currency swap agreements with the European Central Bank, Swiss National Bank, and National Bank of Hungary, totaling CNY 540 billion, during the Bank for International Settlements Governors’ Meeting. The renewals aim to enhance monetary and financial cooperation, facilitate bilateral trade and investment, and maintain financial market stability.