Individuals can invest and bar business all bonds traded
of the people's Bank of China posted 14th the national inter-bank bond market bar business management regulations, income of not less than 500,000 yuan, name in the financial assets of not less than 3 million Yuan, has two years individual investors investing in securities investment experience bar business all of the bonds and the variety. Analysts say this means that the interbank market is officially open to individual investors.
approaches aimed at promoting the development of bond markets, expanding the proportion of direct financing. Referred to the national inter-bank bond market counter service (hereinafter referred to as the counter business) refers to financial institutions through its outlets, electronic means or any other means for investors to open bond accounts, distribution bond, bond-trading services, and handle bond trust and settlement, pledge registration, acting principal and interest payment, providing inquiries.
rules bar business transactions including cash trading, mortgage repo, outright buybacks as well as other products recognized by the people's Bank of China.
bar business bonds have been recognized by the issuer to issue bonds, local government bonds of policy Bank, China Development Bank bonds, bond objects including bar business investors and issue new bonds.
opened counter business of financial institutions (following referred to opened institutions) should meet following conditions: is National Bank between bonds market trading active of do city business or settlement agent; has security, and stable of counter business computer processing system and has access National Bank between peer lending Center, and National Bank between bonds market bonds registration managed settlement institutions; has sound of counter business management system, and risk prevention mechanism, and investors appropriate sex management system and the accounting approach, ; Specializing in OTC business unit and qualified professionals; the last three years there have been no major acts of illegal or irregular.
approach provides, by opened institutions audit finds at least meet following conditions one of of investors can investment counter business of all bonds varieties and trading varieties: State and financial administration sector approved established of financial institutions; law in about management sector or its authorized of industry self-discipline organization completed registration, by holds or management of financial assets net not below 10 million yuan of investment company or other investment management institutions; above financial institutions, and investment company or investment management institutions management of financial products, and Securities investment funds, and other investment plans net assets of no less than RMB 10 million Yuan enterprises income of not less than 500,000 yuan, and name in the financial assets of not less than 3 million Yuan, individual investors have over two years investment experience; comply with the rules of the institutions of the other regulations and recognized by the operating organizations or individual investors.
investors can only trade the issuer does not meet the above criteria ratings or low debt rating not lower than AAA bonds, as well as participate in repo transactions.
rules, operating organizations disclosed information related to bond the counter should be timely, complete, accurate, and effective through dot counter or electronic channels to investors.
operating organizations should special note to investors the principal and interest payment terms and debt service and the additional terms, additional costs, tax policy and other important information.
issuer, credit rating agencies, such as information disclosure obligations shall be in accordance with the relevant provisions of the information disclosure, ensure disclosure of information is true, accurate, complete, timely, and may not have any false record, misleading statements and material omissions, disclosure should fully disclose the risks.
the industry believes that global environment of low economic growth and long-term interest rates low, the technological revolution and the demand side. Public debt is difficult to cut controls leverage new mechanism may be required in the future, finance may need to rely more on direct financing, so the economy can accommodate higher levels of leverage and reduce the possibility of systemic risk.