The renminbi is currently the fifth most used unit in international payments, behind the Japanese yen and the pound sterling; see SWIFT (2019), RMB tracker – Monthly statistics and reporting on renminbi progress towards becoming an international currency, July 2019. [5]  See e.g. Tavlas, G., and Y. Ozeki (1991), “The Japanese yen as an international currency”, IMF Working Paper, No. 91/2.
Banks can play this role while accompanying the development of the capital market and drawing significant advantages from it. It is up to firms to continue their action for a better balanced financial structure, all to the benefit of their ability to stay in the market. BIS central bankers’ speeches  7