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The central bank's discussions with some "aggressive trading" Institutions have shaken the market; who are the Block Orders in this round of bond bull market? State-owned large banks have received the most "attention".
① The central bank's morning consultations mainly involved Institutions based in Beijing, with very few Institutions from other cities attending the meeting, including cities like Shanghai where asset management Institutions are concentrated. ② In the past two weeks, the Block Buy Institutions for 10-year government bonds have shifted from Fund to Banks. ③ As incremental policies come into effect, the likelihood of economic stabilization increases, necessitating a reduction in expectations for the bond market in 2025.
Interest rates can reach 3%! Small and medium-sized Banks have densely launched high-interest products such as large-denomination certificates of deposit and special deposits. How will the pressure for short-term deposit strategies be relieved in the futu
① Some small and medium-sized Banks have engaged in such behavior, which somewhat contradicts the current downward trend of deposit interest rates, possibly being a short-term strategy taken to meet the funding Indicators in the short term. ② The overall trend of deposit interest rates may continue to decline in the future, and the recent rapid decline in bond market interest rates may also face some adjustments.
Encouraging to "seize the opportunities of moderately loose MMF policy," many local officials are intensively researching local Banks at the end of the year, is a good start for next year to be expected.
① In discussions with local officials, frequently mentioned keywords include comprehensive, accelerated, risk, and servicing the local economy. ② For Financial Institutions, "the moderately loose monetary policy from the central government brings opportunities while also posing challenges." ③ If some mechanisms for due diligence exemption can be provided, it is expected to ease the lending pressure on Banks.
December 18 Insurance Daily | Life insurance companies are about to implement the new regulatory data standardization norms! Many insurance companies are looking for new owners for their shares, but sales listings are difficult to complete!
Life insurance companies will soon implement the new regulatory data standardization specifications, requiring strict accountability in data management responsibilities. Recently, the Financial Regulatory Bureau issued a notice to various financial regulatory bureaus, life insurance companies, and the Bank Of China Insurance Information Technology Management Co., Ltd. regarding the 'Notice on the Issuance of Regulatory Data Standardization Specifications for the Insurance Industry (Life Insurance Companies 2024 Edition)'. It is reported that this notice aims to further promote the development of systematic regulatory Technology capabilities and to leverage standardized regulatory data in preventing financial risks, enhancing corporate governance, and facilitating the compliant development of the life insurance Industry. Several insurance companies are seeking new shareholders, with many listings taking place.
Bank of China Issues 10 Billion Yuan of Green Bonds
Bank Of China (03988.HK): The issuance of the total loss-absorbing capacity non-capital green Bonds (Phase 1) (Bond Connect) has been completed.
On December 17, Gelonghui reported that the Bank Of China (03988.HK) announced that, with the approval of relevant regulatory agencies, its total loss-absorbing capacity non-capital green Bonds (Phase I) have recently been fully issued in the national interbank bond market. The issuance scale of this batch of Bonds is 10 billion yuan, with a fixed interest rate for a term of 4 years and a conditional issuer redemption right at the end of the 3rd year, with a coupon rate of 1.78%. The funds raised from this issuance, after deducting issuance costs, will be used to enhance the total loss-absorbing capacity of the Bank Of China in accordance with applicable laws and approvals from competent authorities.
