July 28, 2015 / 8:16 AM / 5 years ago

LME Clear to accept offshore yuan as cash collateral

LONDON, July 28 (Reuters) - The London Metal Exchange said that its clearing house can accept offshore yuan as cash collateral, effective immediately, after regulatory approval from the Bank of England.

The initiative comes in response to calls from LME Clear members to extend the list of accepted cash collateral to include offshore yuan. (Reporting by Pratima Desai, editing by Louise Heavens)

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