Related News
Banks in China rush to issue negotiable certificates of deposit
COMMERCIAL banks in China rushed to issue negotiable certificates of deposit as they are encouraged by financial regulators to accelerate liberalization of deposit rates in the country.
By August 20, the banks in China had issued 264.9 billion yuan (US$43 billion) worth of NCDs this year, according to Wind Information, a Shanghai-based financial data provider. So far, 48 banks announced that they planned to issue 1.33 trillion yuan NCDs this year.
NCDs can be bought by and resold to the members of the interbank market. It is a low-risk and low-interest investment instrument that cannot be cashed out before maturity.
Hong Kong-based Bank of East Asia said today it issued 500 million yuan in NCDs at an interest rate of 4.4 percent and with a maturity of one month. The lender has a quota of 3 billion yuan this year. Further issues will be arranged subject to market conditions, it said in a statement today.
HSBC received a similar quota from the regulator and made its first issuance last month with a total amount of 500 million yuan at 4.6 percent.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.