News Snapshot:
The People’s Bank of China (PBOC) issued 25 billion yuan in renminbi central bank bills via Hong Kong on 22 August. The issue consisted of 10 billion yuan in 3-month central bank bills and 15 billion yuan in 1-year central bank bills, with rates of 1.90% and 2.30% respectively. The issue saw the participation of commercial banks, central banks, funds and insurance companies from North America, Europe and the Asia-Pacific, and was three time oversubscribed, with a bidding volume of 75 billion yuan. PBOC said that the oversubscription rate served to “clearly show the strong appeal of renminbi assets to...
