Central Bank Accounting Data System Launches DVP Function for Open Market Outright Repo Transactions

Deep News
Dec 15, 2025

To meet new requirements for implementing monetary policy tools and fully support Delivery Versus Payment (DVP) settlement for open market outright repo transactions, the People's Bank of China (PBOC) Clearing Center has recently launched the DVP settlement function for outright repos under the Central Bank Accounting Data System (ACS). The system has successfully processed its first batch of 20 DVP settlements for open market outright repos, involving 777 bond registration entries.

This new feature automates the entire accounting process for central bank open market outright repo operations, expanding the scope of online trading activities. It simplifies settlement procedures, shortens delivery cycles, and improves the efficiency of fund and bond utilization by financial institutions. The upgrade provides safer and more efficient technical support for open market operations, facilitating the broader and more precise implementation of monetary policy tools while enhancing the effectiveness of financial regulation.

Moving forward, the PBOC Clearing Center will continue optimizing the DVP settlement function for outright repos by collecting market feedback and improving service quality to ensure system stability. Under the PBOC's leadership, the center will further strengthen its role as financial infrastructure by refining business scenarios and expanding service coverage to support high-quality financial development.

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