[The People's Bank of China establishes the bond market non-bank large-amount redemption swap facility] On October 26, in order to further implement the requirements of "building a scientific and stable monetary policy system and a comprehensive macro-prudential management system" and maintain the stability of the bond market, the People's Bank of China decided to establish the bond market non-bank large-amount redemption swap facility (Bond Market NBFI Swap Facility, referred to as BNSF). In specific scenarios where asset management institutions face collective liquidity risks and systemic pressures arise in the bond market, support bank wealth management subsidiaries and public fund managers (or corresponding parent banks, securities parent companies, etc.) with systemic influence to borrow central bank bills from the People's Bank of China for market repurchase financing to purchase eligible bonds or product shares of the company's (or asset management subsidiary's) redeemed public offering products and mortgage them to the People's Bank of China. Participating institutions should continue to meet the prudent management requirements of the financial market and maintain market discipline.