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ICBC, CICC Conduct 1st SFISF Separately
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The People's Bank of China (PBOC) conducted the first Securities, Funds and Insurance Companies Swap Facility (SFISF) yesterday (21st). The operation involved RMB50 billion, and the expense ratio was determined through a tender process. 20 institutions participated in the bidding, with the highest bid rate being 50 bps, the lowest rate 10 bps, and the winning rate 20 bps. ICBC (01398.HK) (601398.SH) said it had reached a trading intention with a number of securities companies and fund companies to use swap bonds for financing, and nailed the first bond repurchase transaction in the market with a leading broker to pledge and swap central bank bills. According to a report in National Business Daily, CICC completed the first repo transaction under the SFISF, with the pledged securities being the first tranche of central bank bills under the swap facility in 2024. CICC stated that it will continue to implement the Chinese central government's plans, play a stabilizing role in the market, and fully support the implementation of macroeconomic policies. AAStocks Financial News |
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