Arab Today, arab today china to launch new vehicle towards freeing interest rates
Last Updated : GMT 10:58:15
Arab Today, arab today
Arab Today, arab today

China to launch new vehicle towards freeing interest rates

Arab Today, arab today

Arab Today, arab today China to launch new vehicle towards freeing interest rates

Beijing - XINHUA

China will soon introduce negotiable certificates of deposits (NCDs) on the interbank market, announced Pan Gongsheng, vice governor of China's central bank, on Friday. The issuance of interbank NCDs, an investment vehicle, is considered a stepping stone for market-oriented reforms of deposit interest rates. Interest rate reforms have entered a crucial stage and the central bank has mapped out an overall program for this, said Pan. Besides introducing NCDs, the central bank will further expand the floating range of deposit interest rates and ultimately lift controls on deposit rates, he added. NCDs are issued by banks and can not be cashed in before maturity. They were first introduced in China by the Bank of Communications in 1986, but the gate was closed after 1997 due to fraud and forgery. The People's Bank of China, or the central bank, announced on July 19 that it would scrap the floor limit for banks' lending interest rates. Financial institutions can decide their own rates following commercial principles. But a ceiling limit on deposit rates remained unchanged. The cap is 110 percent of benchmark deposit rates and the benchmark rate for one-year fixed deposits is now 3 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to launch new vehicle towards freeing interest rates Arab Today, arab today china to launch new vehicle towards freeing interest rates

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to launch new vehicle towards freeing interest rates Arab Today, arab today china to launch new vehicle towards freeing interest rates

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday