The People's Bank of China is building a yuan reserve with five other nations in collaboration with the Bank for International Settlements. China is teaming up with Indonesia, Malaysia, Hong Kong, Singapore, and Chile to each contribute 15 billion yuan — about $2.2 billion — to a Renminbi Liquidity Arrangement, China's central bank said in a Saturday statement. "When in need of liquidity, participating central banks would not only be able to draw down on their contributions, but would also gain access to additional funding through a collateralised liquidity window," the bank said. Per the report, the funds will be ... (full story)