Published On: Mon, Nov 3rd, 2014

Citi Designated By The Hong Kong Monetary Authority As Primary Liquidity Provider For The Offshore RMB Market In Hong Kong

Weber Lo, Citi Country Officer and CEO, Hong Kong & Macau -

Weber Lo, Citi Country Officer and CEO, Hong Kong & Macau –

Citi on 3 November announced that Citi Hong Kong has been designated by The Hong Kong Monetary Authority (HKMA) as Primary Liquidity Provider for the offshore RMB market in Hong Kong. The designation will allow Citi access to a dedicated repo facility of RMB2 billion provided by the HKMA, to promote offshore Renminbi liquidity and facilitate Renminbi transactions for corporate customers and other financial institutions. This will help expand the offshore Renminbi market, bring new business opportunities to Hong Kong, and further strengthen Hong Kong’s role as the premier offshore Renminbi centre.

Weber Lo, Citi Country Officer and CEO, Hong Kong & Macau, said: “We are honored and privileged to be among a select few to be designated as Primary Liquidity Provider for the offshore RMB market in Hong Kong. This designation by the HKMA is recognition of Citi’s strong position in the CNH market, and underlines Citi’s robust liquidity and treasury management capability. This presents a unique opportunity for expanding our Renminbi businesses by harnessing the full potential of our global network.”

Leveraging its global network and strong capabilities, Citi has been widely recognized as one of the industry leaders for RMB business. Our offshore RMB products and services continue to impress corporates, financial institutions and investor clients in Asia Pacific, particularly on our leading position in trading, outstanding capability in RMB payment, pioneer in RMB cross-border business and strong market presence in custody services.

Citi is the first global bank approved to set up presence in the China (Shanghai) pilot free trade zone, and is one of the largest providers of markets solutions, covering fixed income, equities, commodities and currencies, to retail, private bank clients, corporate and investors.

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