People's Bank of China, Announcement [2017] No.12

中国人民银行公告〔2017〕第12号

October 12, 2017 | BY

Susan Mok

China bans banks from issuing long-term interbank NCDs.

Clp Reference: 36000/17.08.30

Issued: August 30 2017

Effective: September 1 2017

 

Main contents: Starting from September 1 2017, financial institutions are not allowed to issue new interbank negotiable certificates of deposit with a term of more than one year. Interest of such certificates may accrue at a fixed rate or variable rate.

 

The term of an interbank negotiable certificate of deposit may not exceed one year, and shall be 1 month, 3 months, 6 months, 9 months or 1 year. Interest may accrue at a fixed rate or variable rate and shall be set with reference to the interest rate of Shanghai Bank for interbank loans of the same term.

 

clp reference:36000/17.08.30

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