IPFS News Link • Economy - International
Another BRIC in the Wall - China/Switzerland in 150 Billion Yuan Swap
• http://www.dailypaul.comThe three-year swap, signed on Monday, will "provide liquidity support for bilateral economic and trade exchanges and help maintain financial stability," the People's Bank of China (PBOC) said in a statement on its website, www.pbc.gov.cn.
The swap deal will provide liquidity support for development of the offshore yuan market in Switzerland and will be extended if needed, the PBOC said.