Announcement on SFISF Operations No.1 [2025]

(Open Market Operations Office, January 2, 2025)

In order to better leverage the role of securities firms and fund companies in stabilizing the market, the People's Bank of China (PBOC), together with the  China Securities Regulatory Commission, has been continuously promoting the implementation of the Securities, Funds and Insurance companies Swap Facility (SFISF). Based on the demand of the participating institutions, the PBOC conducted the SFISF operation for the second time and concluded the bidding on January 2, 2025, with an allotment amount of RMB55 billion. Twenty institutions participated in the tender. The highest and lowest bid rate was 30 bp and 10 bp, respectively, and the winning rate was 10 bp.