Mar 23 - Treasury Deposit Bid Rate at Record High

Source: People's Bank of China, ChinaScope Financial (Data)

+       The rate for treasury deposits was a record high of 6.8% in this year’s second bidding round on March 22.

+       Analysts believe that the high loan-to-deposit ratio and the uneven distribution of deposits among banks are the main reasons for the high bid rate. Small and mid-sized commercial banks offered high rates for the treasury deposits in order to boost their deposits and meet the loan-to-deposit standard set by the CBRC.

The annualized treasury deposit bid rate on March 22 remained at a historic high of 6.8%. The amount of treasury deposits was CNY 50 Bn, with a six month maturity date

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