trending Market Intelligence /marketintelligence/en/news-insights/trending/YOz-RFGNlknNJGZcwYBiaw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

China's central bank to include NCDs as part of banks' interbank liabilities

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

China's central bank to include NCDs as part of banks' interbank liabilities

China's central bank will tighten its oversight on money market debt issued by big banks as part of its efforts to curb financial system risk, the South China Morning Post reported Aug. 14.

In its second-quarter monetary report, the People's Bank of China, or PBOC, said it will include negotiable certificates of deposit,or NCDs, issued by banks with over 500 billion yuan in assets as part of their interbank liabilities under the macro-prudential assessment. The central bank will implement the move starting from the first quarter of 2018.

The central bank had previously said it was considering requiring banks to reclassify NCDs as interbank liabilities.

Smaller banks will be exempt form the first round of the test but the PBOC will continue to monitor them.

These smaller banks had quickly latched on to NCDs after the central bank introduced the products in 2013 to facilitate interest rate liberalization. The smaller banks used the proceeds from selling large volumes of NCDs to buy each other's wealth management products and NCDs. By the end of July, the value of outstanding NCDs had grown to 8.43 trillion yuan, making up 13.2% of China's bond market.