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 MokChina bans banks from issuing long-term interbank NCDs.
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.
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now