Related News
Japan bank to sell CD in free trade zone
Print Edition
MIZUHO Bank, Japan’s third-largest bank by assets, has obtained the regulatory approval to issue the certificates of deposit (CD) in the pilot Shanghai free trade zone yesterday.
Japan’s Nikkei newspaper said the bank plans to issue the first batch of CD between 100 million yuan (US$15.3 million) and 200 million yuan after getting the nod from the China Banking Regulatory Commission.
Mizuho signed a loan agreement with Shanghai-based Baosteel Group on February 4. It is assumed the certificates will be used to raise funds for lending Baosteel.
A CD is a promissory note issued by a bank and bears a maturity date, a specified fixed interest rate and can be issued in any denomination. The term generally ranges from one month to five years.
A total of 102 institutions have been allowed to issue the certificates so far, including three foreign lenders. Analysts see it as a major tool for banks to boost the liquidity and a step towards rate liberalization.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
