Bank of France Seeking Yuan Liquidity Agreement for Euro Area
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Bank of France Governor Christian Noyer said he’s seeking agreement among euro-area central banks for ways of providing liquidity support in Chinese yuan as countries compete for future business.
“The essential thing is liquidity backstops, either public or private ones,” Noyer said yesterday in a Bloomberg News interview in Paris. “On the public facility, we’re looking at it. We’re talking about how we can have a public backstop with a swap accord in the euro system.”