People's Bank of China: Further support domestic banking financial institutions and overseas institutions in conducting RMB cross-border interbank financing business

The People’s Bank of China issued a notice regarding matters related to cross-border interbank RMB financing business for banking financial institutions. The notice states that the net RMB funds lent out by domestic banks to overseas institutions must not exceed the upper limit of the net RMB cross-border interbank financing balance. Domestic banks should establish an internal early warning mechanism, and when the net RMB cross-border interbank financing balance reaches 80% of the limit, they should alert the relevant business departments.