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The PBOC on Monday conducted the first........>

CHINA
CHINA: The PBOC on Monday conducted the first central bank bills swap (CBS)
operation of 2020 to support the issuance of perpetual bonds by commercial
banks. The CBS, valued at CNY6 billion, are open to primary dealers at a fixed
rate of 0.1%, according to a statement on the PBOC website. The swap will be due
on April 20, 2020, the statement said. The CBS scheme allows dealers to swap the
perpetual bonds they hold for central bank bills, which will boost market demand
for perpetual bonds.

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