November 7, the peoplebankThe announcement was made on Wednesday through the Hong Kong Monetary Authority's Debt Instrument Central Clearing System (CMU) bond tendering platform.interest rateThe first phase and the second phase of central bank bills were issued in 2018, and the two phases totaled 20 billion yuan. This is the first time that the central bank has issued central bank bills since June 20, 2013. It is also the first time in history that the issuance of central bank bills in the offshore market has been regarded as the first time that monetary policy tools have been “going out to sea”.
The first phase of central bank bills (Hong Kong) in 2018 is for three months (91 days), and the issuance is 10 billion yuan.interest rateIt is 3.79%; the second phase of central bank bills (Hong Kong) in 2018 has a term of one year, a circulation of 10 billion yuan, and a winning bid rate of 4.20%.
On September 20, the central bank and the Hong Kong Monetary Authority have signed a memorandum of cooperation to clarify that the central bank will use the HKMA's debt instruments CCASS bond bidding platform to issue PBOC bills in Hong Kong to support the development of offshore renminbi business in Hong Kong.
Now that the central bank bills landed in Hong Kong for the first time, it was regarded as the first time that monetary policy tools were “going out to sea”. The market expects that central bank bills as one of the liquidity management tools, the central bank's move is not only conducive to the stability of the RMB exchange rate, but also conducive to the advancement of the RMB internationalization process.
On November 7, the People's Bank of China also announced that the current liquidity of the banking system is at a reasonable ample level, and no reverse repurchase operations will be carried out on that day.
(Article source: Yangcheng Evening News)