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China conducts this year's 7th central bank bills swap

2020-7-31 10:55

 

BEIJING, July 30 (Xinhua) -- The People's Bank of China, the central bank, said it will conduct this year's seventh central bank bills swap (CBS) operation on Thursday to improve the liquidity of perpetual bonds issued by commercial banks.

The CBS, valued at 5 billion yuan (about 715 million U.S. dollars), is open to primary dealers for bidding at a fixed rate of 0.1 percent, the central bank said in a statement.

The swap will be due on Oct. 30, 2020, said the statement.

The CBS scheme allows dealers to swap the perpetual bonds they hold for central bank bills, which will effectively boost market demand for perpetual bonds but have a neutral impact on liquidity in the banking system.

Perpetual bonds are fixed-income securities with no maturity date and are not redeemable but pay a steady stream of interests forever.

 

北京,7月30日(新华社)——中国人民银行周四表示,将进行今年第七次央行票据互换操作,以提高商业银行发行的永久债券的流动性。


中央银行在一份声明中表示,这批价值50亿元人民币(约合7.15亿美元)的转债以0.1%的固定利率向一级交易商开放竞价。


该声明称,互换将于2020年10月30日到期。


转债计划允许交易商将其持有的永久债券换成央行票据,这将有效提振市场对永久债券的需求,但对银行体系的流动性影响中性。


永久债券是一种固定收益证券,没有到期日,不能赎回,但可以永远支付稳定的利息。

 

来自: xinhua