BOC issues RMB500 mln NCD to strengthen financial services for epidemic control

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BEIJING, Feb. 21 (Xinhua) — Bank of China (BOC), one of China’s four biggest lenders, floated 500 million yuan worth of 3-month negotiable certificates of deposit (NCD) on Thursday to ramp up financial services for the epidemic control, the Xinhua-run China Securities Journal reported on Thursday.

According to the report, the batch of NCD has been widely recognized and actively subscribed by market institutions, including joint-stock banks, securities firms, rural commercial banks and city commercial banks.

The funds raised will be used particularly to meet the capital needs of enterprises involved in prevention and control of the epidemic and those dedicated to the guarantee of people’s livelihood amid the battle against the outbreak.

This is another innovative attempt of the lender to promote the transmission of interbank market interest rates to real economy.