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Publish Date:07-16-2015

 

Recently, the Ministry of Finance and the People's Bank of China jointly issued a notice requiring that the local government bonds to be included into the scope of pledges for the cash management of both the central and local state treasuries.

 

According to the notice, for commercial banks responsible for the cash management of the central or local state treasuries, book-entry treasure bonds and local government bonds will be accepted as pledges for state treasury time deposits. Additionally, the notice allows for the cross-region pledge of local government bonds regardless of the jurisdiction of issuing authorities.