The People's Bank of China (PBOC) has executed the first operation of the Securities, Funds and Insurance Companies Swap Facility (SFISF), involving CNY50bn (USD7.04bn), to bolster the country's capital market stability. The facility, established on Oct. 10 with an initial scale of CNY500bn, allows eligible financial institutions to use assets such as bonds, exchange-traded funds, and CSI 300 Index stocks as collateral in exchange for highly liquid assets like treasury bonds. The first group of approved participants, totaling 20 securities and funds companies, received application quotas exceeding CNY200bn. Early this week, China International Capital Corporation Limited announced it had successfully completed a transaction under the SFISF, marking a significant step in leveraging the facility to support the capital market.