On March 5th, the Chinese peoplebankwebsiteannouncementShow that for regulated securitiesthe companyshort termFinancing bonds (hereinafter referred to as “BrokerageShort-term financing”) issuance and transactions to promotecurrencymarketSteady and healthy development, the Chinese peoplebank“Securities CompanyShort-term financingticketmanagementThe Measures (hereinafter referred to as the “Measures”) have been revised, andsocietyOpen solicitationopinion, The deadline for comments is April 4 this year.
Brokerage short-term financing refers to the securities company’sbankIssued in the inter-market with a period of less than 1 year for repayment of principal and interestBond. In 2004, in order to implement the “Nine Articles of the State” on the broadening of securitiesCorporate financeChannel-related spirit,People’s Bank of ChinaThe promulgation of the “Measures” has better supported the short-term financing needs of securities companies.
At present, the business model, financing environment and risk characteristics of securities companies have undergone major changes. According to the demands of market members and the needs of financial market macro management, the revised “Measures” establishes a management framework with liquidity management as the core, and cancels pre-issuance filing , To strengthen management during and after the event, and guide securities companies to improve liquidityManagement ability, To promote the stable and healthy development of the currency market.
It is reported that the “Measures” include the issuer’s qualifications, limit and time limit management, information disclosure, and in-process and after-event management. There are 22 articles in total. The main contents include:
One is to issueshort-term bondIn addition to all risk indicators complying with regulatory requirements, the securities companiesLiquidity coverage ratioShould continue to be higher than the industry average, with a reasonablecostMeet liquidity needs in a timely manner.
The second is short-term financing bills and othersShort-term liabilitiesThe sum of the balances of the instruments shall not exceed 60% of the net capital, and the maximum period shall not exceed 1 year.
Third, securities companies that issue short-term financing bills should disclose the medium-termreport、annual report, Major events and issuance.
Fourth, continue to strengthen the liquidity coverage ratio and other risk control indicators andMarket transaction behaviorThe monitoring and management of securities companies will dynamically adjust the limits of short-term financing bills according to the net capital of securities companies and the balance of other short-term debt instruments every six months to guide securities companies to maintain a high level of liquidity.
(Source: Shanghai Securities News)
(Editor in charge: DF387)
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Solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this stand.
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