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MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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2023 Profit Transferred Into Primary Capital

RIKSBANK

The Riksbank's General Council has confirmed that the SEK16bln profit generated by the Central Bank in 2023 will be transferred to the Riksbank's primary capital and not to the Treasury.

  • "The profit is not sufficiently large to ensure that the Riksbank’s equity after the allocation of profits will reach the target level for equity pursuant to the Sveriges Riksbank Act", per the Riksbank's press release.
  • This comes as no surprise, and further details on the allocation of profits will be available in the Riksbank's recapitalisation petition to the Riksdag in March. We wrote extensively on this topic in a recent analysis piece here.
  • A reminder that the Riksbank's full 2023 Annual Report is expected to be published tomorrow (Feb 20).
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