Free Trial

MNI BRIEF: PBOC Launches CNY300bln Stock Buy-back Facility

MNI (BEIJING ) - The People’s Bank of China launched its one-year CNY300 billion relending facility targeting stock buy-backs on Friday with an annual interest rate of 1.75%, according to a statement on its website.

The facility, which the Bank can extend if necessary, will incentivise lenders to provide loans to eligible listed companies and major shareholders to support stock repurchases and increases holdings.The loans will be provided by 21 national banks with the interest rate capped at 2.25% in principle. (See MNI INTERVIEW: PBOC Moves, Stimulus To Boost Stocks-BOC's Zong

Keep reading...Show less
124 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

MNI (BEIJING ) - The People’s Bank of China launched its one-year CNY300 billion relending facility targeting stock buy-backs on Friday with an annual interest rate of 1.75%, according to a statement on its website.

The facility, which the Bank can extend if necessary, will incentivise lenders to provide loans to eligible listed companies and major shareholders to support stock repurchases and increases holdings.The loans will be provided by 21 national banks with the interest rate capped at 2.25% in principle. (See MNI INTERVIEW: PBOC Moves, Stimulus To Boost Stocks-BOC's Zong

Keep reading...Show less