The existing deal has been extended out to 8 October 2025. The maximum size is unchanged at 350 billion renminbi and 45 billion euros.
ECB statement:
- "From a Eurosystem perspective, the arrangement serves as a backstop facility to address potential sudden and temporary CNY liquidity shortages for euro area banks as a result of disruptions in the renminbi market"
i.e. the deal helps ensure euro area banks don't run short of Chinese renminbi.
