Hong Kong Monetary Authority (HKMA) to Increase RMB Business Facility (RBF) to $28.7 Billion (CNY 200 Billion) Effective 2nd February 2026, Allows Banks to Apply for RMB Funds from HKMA to Provide RMB Financing to Local & Overseas Corporates, Earlier Phase 2 Participating Banks (40) include HSBC, Standard Chartered Bank, ANZ, BNP Paribas, DBS, OCBC, UOB, Hang Seng Bank, Bank of China, China Construction Bank & ICBC
27th January | Hong Kong
Hong Kong Monetary Authority (HKMA) has announced to increase RMB Business Facility (RBF) to $28.7 billion (CNY 200 billion) effective 2nd February 2026, allowing banks to apply for RMB funds from HKMA to provide RMB financing to local & overseas corporates. In 2025 December, the Hong Kong Monetary Authority (HKMA) increased Phase 2 RMB Business Facility (RBF) to $14.2 billion (CNY 100 billion) effective 1st December 2025 from Phase 1 $7.1 billion (CNY 50 billion), allowing banks to apply for RMB funds from HKMA to provide RMB financing to local & overseas corporates. Phase 2 participating banks (40) include HSBC, Standard Chartered Bank, ANZ, BNP Paribas, DBS, OCBC, UOB, Hang Seng Bank, Bank of China, China Construction Bank & ICBC. Announcement (26/1/26): “The Hong Kong Monetary Authority (HKMA) announced today (26 January) that the total size of the RMB Business Facility (RBF) will increase from the current RMB100 billion to RMB200 billion, with effect from 2 February. With the strong support of the People’s Bank of China (PBoC), the HKMA leveraged the currency swap arrangement with the PBoC to launch the RBF in October 2025, which replaced and enhanced the RMB Trade Financing Liquidity Facility introduced in February 2025. The RBF provides banks with a stable and relatively lower-cost source of Renminbi (RMB) funds, enabling them to offer RMB financing to their corporate clients and support the wider use of RMB in the real economy. The facility channels onshore RMB liquidity into offshore markets in an orderly manner, by adopting a “hub-and-spoke” model with Hong Kong as the hub, further enhancing Hong Kong’s unique advantages and role as the global offshore RMB business hub. The RBF has received overwhelming response from the banking sector since its launch, with the RMB100 billion aggregate quota fully allocated to 40 participating banks. With the implementation of the RBF, eligible end-users have extended from corporate clients of Hong Kong banks to cover also corporate clients of the participating banks’ overseas intragroup banking entities. Eligible activities have also been expanded from trade finance to cover capital expenditure and working capital term loans. With the increasing usage of the facility, some participating banks have reached or are approaching the cap of their quotas. The experience so far suggests that the RBF has not only served corporates in Hong Kong but has also successfully channelled offshore RMB funds to regions such as the ASEAN countries, the Middle East, and Europe. Meanwhile, more banks have indicated keen interest in participating in the RBF. The doubling of the RBF to RMB200 billion provides space to raise quota allocated to participating banks and to onboard more banks. The HKMA welcomes existing and aspiring banks to submit applications and will consider the allocation of quotas in accordance with established practice.” The guidance to RBF quota application, terms and conditions, as well as operation procedures can be found on the HKMA website.”
“ Hong Kong Monetary Authority (HKMA) to Increase RMB Business Facility (RBF) to $28.7 Billion (CNY 200 Billion) Effective 2nd February 2026, Allows Banks to Apply for RMB Funds from HKMA to Provide RMB Financing to Local & Overseas Corporates, Earlier Phase 2 Participating Banks (40) include HSBC, Standard Chartered Bank, ANZ, BNP Paribas, DBS, OCBC, UOB, Hang Seng Bank, Bank of China, China Construction Bank & ICBC “
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Hong Kong Monetary Authority (HKMA) Increased Phase 2 RMB Business Facility (RBF) to $14.2 Billion (CNY 100 Billion) Effective 1st December 2025 from Phase 1 $7.1 Billion (CNY 50 Billion), Allows Banks to Apply for RMB Funds from HKMA to Provide RMB Financing to Local & Overseas Corporates, Phase 2 Participating Banks (40) include HSBC, Standard Chartered Bank, ANZ, BNP Paribas, DBS, OCBC, UOB, Hang Seng Bank, Bank of China, China Construction Bank & ICBC
30th December – The Hong Kong Monetary Authority (HKMA) has increased Phase 2 RMB Business Facility (RBF) to $14.2 billion (CNY 100 billion) effective 1st December 2025 from Phase 1 $7.1 billion (CNY 50 billion), allowing banks to apply for RMB funds from HKMA to provide RMB financing to local & overseas corporates. Phase 2 participating banks (40) include HSBC, Standard Chartered Bank, ANZ, BNP Paribas, DBS, OCBC, UOB, Hang Seng Bank, Bank of China, China Construction Bank & ICBC. Announcement (29/12/25): “The Hong Kong Monetary Authority (HKMA) announced today (29 December) the expanded list of 40 participating banks (see Annex) starting from Phase 2 of the RMB Business Facility (RBF), with the total quota allocated to participating banks increased to RMB100 billion, from RMB50 billion in the previous phase. As announced by the HKMA on 26 September. (please refer to the Circular for more details), starting from Phase 2 of the RBF, the scope of eligible Renminbi (RMB) financing activities has been broadened to cover RMB capital expenditure (capex) and working capital term loans. Such enhancement has been well-received by the banking industry. Starting from Phase 2, which commenced on 1 December, the 40 participating banks can apply for RMB funds from the HKMA within their assigned quota under the RBF, to provide RMB financing to local and overseas corporates in support of the real economy. The specific quota assigned to each of the 40 participating banks is based on the bank’s existing scale of relevant business, expected pipeline, as well as the geographical reach of its overseas intragroup banking entities, all of which reflect its potential in enhancing Hong Kong’s capacity in channelling offshore RMB funds to the global market. When determining the quota allocation, facility usage of the 24 banks that participated in the previous RMB Trade Financing Liquidity Facility and Phase 1 of the RBF has also been taken into account.”
40 Participating Banks – $14.2 Billion (CNY 100 Billion) Phase 2 RMB Business Facility (RBF)
- Agricultural Bank of China Limited
- Australia and New Zealand Banking Group Limited
- Bangkok Bank Public Company Limited
- Bank of China (Hong Kong) Limited
- Bank of China Limited
- Bank of Communications (Hong Kong) Limited
- Bank of Communications Co., Ltd.
- Bank of East Asia, Limited (The)
- Bank SinoPac
- BNP Paribas
- China CITIC Bank International Limited
- China Construction Bank (Asia) Corporation Limited
- China Construction Bank Corporation
- China Everbright Bank Co., Ltd.
- China Merchants Bank Co., Ltd.
- China Minsheng Banking Corp., Ltd.
- Chiyu Banking Corporation Limited
- Chong Hing Bank Limited
- CMB Wing Lung Bank Limited
- Dah Sing Bank, Limited
- DBS Bank (Hong Kong) Limited
- DBS Bank Ltd.
- Deutsche Bank AG
- First Abu Dhabi Bank PJSC
- Fubon Bank (Hong Kong) Limited
- Hang Seng Bank, Limited
- Hongkong and Shanghai Banking Corporation Limited
- Industrial and Commercial Bank of China (Asia) Limited
- Industrial and Commercial Bank of China Limited
- Industrial Bank Co., Ltd.
- ING Bank N.V.
- Malayan Banking Berhad
- Nanyang Commercial Bank, Limited
- OCBC Bank (Hong Kong) Limited
- Oversea-Chinese Banking Corporation Limited
- Ping An Bank Co., Ltd.
- Qatar National Bank (Q.P.S.C)
- Shanghai Pudong Development Bank Co., Ltd.
- Standard Chartered Bank (Hong Kong) Limited
- United Overseas Bank Limited
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