Southeast Asia’s Growing Interest in Non-dollar Financial Channels-and the Renminbi’s Potential Role

In late June, the People’s Bank of China (PBOC)—China’s central bank—announced the launch of a new emergency liquidity arrangement that can be funded using renminbi and tapped by participating central banks during times of market stress. Three of the five participating central banks are Singapore’s, Malaysia’s, and Indonesia’s, which each recently renewed agreements with the […]