BNP Paribas brings first Rmb lending rate IRS
BNP Paribas, on December 10, struck the first-ever renminbi interest rate swap (IRS) referenced to the one-year lending-rate of the People Bank of China (PBoC) in the interbank market in China. The new product puts a powerful instrument in the hedging toolkit for corporate borrowers in mainland China. The new IRS product can help corporates to better manage their interest rate risks in a volatile interest rate environment, especially given the expectations of rising interest rates in the next few years.
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