Standard Chartered became the first approved to issue SDR bonds in China business institutions – Chi

Become the first organization approved the issue of Standard Chartered commercial SDR bonds in the new China news agency network – in October 14 Shanghai Xinhua (reporter Jiang Yu) the Standard Chartered Bank (Chinese) Co. Ltd. announced on 14, Standard Chartered Hongkong has been approved by the people’s Bank of Chinese, becoming the issue of the SDR in the China interbank market (SDR) the first commercial agency the valuation of bonds. It is reported that the Standard Chartered issued SDR bonds was 100 million SDR (about 9.25 yuan in RMB billion yuan), bond subscription by Standard Chartered Chinese as joint underwriters and joint bookrunner. The International Monetary Fund in October 1st this year, the RMB will be formally incorporated into the SDR currency basket, which makes the SDR more effectively covers the major international currency, to increase the market for SDR products denominated interest, in order to disperse and risk management. Standard Chartered Hongkong launched the SDR valuation of the bond, it is to meet the needs of the market move. Standard Chartered China financial market director Yang Jing said: "the renminbi was officially incorporated into the SDR to help reduce the volatility of SDR exchange rate, so that the SDR value is more stable, as a reserve currency and monetary financing increasingly attractive. RMB into the SDR will greatly promote China’s capital market two-way opening and development, accelerate the pace of internationalization of the RMB, and promote capital account convertibility". Yang Jing said, the yuan denominated SDR bonds will help the market to promote the SDR of financial instruments, expand the investors to obtain foreign currency bonds in the bond market China channels to provide more diversified bond market products to customers. SDR is a reserve currency created by the International Monetary Fund, including the dollar, the euro, the yen, the pound and the latest addition to the renminbi. (end)相关的主题文章: