Pan Gongsheng: Securities funds and insurance companies swap facilities The funds obtained by the first phase 500 billion can only be used to invest in the stock market

On September 24th, Pan Gongsheng of the People's Bank of China said that for the first time, the People's Bank of China has created structural monetary policy tools to support capital markets. One of them is the swap facility for securities, funds and insurance companies, which supports qualified securities, funds and insurance companies to use their own bonds, stock ETFs and CSI 300 stocks as collateral to exchange highly liquid assets such as government bonds and central bank bills from the central bank. This policy will greatly enhance the capital acquisition and stock holdings of relevant institutions. The funds obtained by institutions through this tool can only be used to invest in the stock market. Pan Gongsheng revealed that the scale of the first swap operation is 500 billion yuan, and the scale can be expanded in the future depending on the situation.