🔔 China regulators probe liquidity stress that sent rates to record 50% on October 31 👀
- Silence DoGood, MBA
- Nov 2, 2023
- 1 min read
"The China Foreign Exchange Trade System (CFETS), a central bank affiliate that operates China's interbank market, has asked institutions that settled trades on Tuesday at the 50% rate to submit explanations, according two sources with direct knowledge".
"A trader said a large number of fund houses, brokerages and trust firms were scrambling to borrow money in afternoon trade on Tuesday to avoid defaults as big banks appeared reluctant to lend".
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