Central Bank: First operation to facilitate the exchange of securities, funds, and insurance companies, with an amount of 50 billion RMB

On October 21, the People's Bank of China announced that in order to better leverage the role of securities and fund institutions in stabilizing the market, the People's Bank of China conducted the first operation of mutual exchange convenience among securities, funds, and insurance companies. The amount involved in this operation is 50 billion yuan, using a rate bidding method. 20 institutions participated in the bidding, with the highest bid rate at 50 basis points (bp), the lowest bid rate at 10 basis points (bp), and the winning bid rate at 20 basis points (bp). This article is excerpted from the official website of the People's Bank of China, edited by Zhitong Finance: Liu Jiayin