Analysts say curbing Hong Kong’s Fed funding access would have limited impact

The facility lets foreign central banks borrow US dollars for a short time.

A US lawmaker wants the Federal Reserve to review Hong Kong’s access to it, citing Hong Kong’s support for China’s efforts to expand the yuan’s use.

Analysts say Hong Kong does not rely on the facility regularly, so losing access would have limited impact.

They warn the move could make the US dollar less dominant around the world.