U.S. Congressional China Committee Chair Urges Federal Reserve to Consider Restricting Hong Kong's Dollar Liquidity Support
- 1John Moolenaar, Chairman of the Select Committee on the Chinese Communist Party, urged the Federal Reserve to consider blocking Hong Kong's access to the FIMA facility.
- 2In May 2020, the amount withdrawn by Hong Kong from the facility reached a maximum of $1.4 billion.
- 3The yuan's 2.1% share of global foreign exchange reserves held by the IMF and the dollar's 56.7% share of official foreign exchange reserves held by central banks worldwide were mentioned.
So what's the key point?
A U.S. Congressional committee chairman said that Hong Kong should be prevented from borrowing dollars. This could affect the flow of dollar liquidity in Hong Kong.
Source CNBC · View original ↗
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