PBOC, NFRA and CSRC Hold Meeting on Two Tools Supporting Capital Markets

36Kr learned from the PBOC's website that on November 2, 2026, the People's Bank of China, together with the National Financial Regulatory Administration, the China Securities Regulatory Commission and other departments, successively held symposiums on the Swap Facility for securities, fund and insurance companies and on the Relending Facility for share buybacks and increases. The meetings heard feedback from financial institutions on business progress and suggestions, and studied arrangements for making full use of policy tools to support the healthy and stable development of the capital market. The meeting stated that, to maintain capital market stability and enhance market resilience and confidence, the PBOC, NFRA and CSRC will continue to strengthen policy support, further optimize policy elements and implementation rules, and encourage financial institutions to make full use of policy tools. They will conduct Swap Facility operations for securities, fund and insurance companies in a timely manner, further increase the number of participating institutions, appropriately lower swap rates, and optimize collateral and operating arrangements. The relending policy for share buybacks and increases will shift from a temporary arrangement to a long-term institutional arrangement, and the relending rate will be cut from 1.25% to 1%. Financial institutions will adhere to market-based pricing principles, reasonably add margins on top of the relending rate, and increase lending.