Tender Announcement on Central Bank Bills Swap (CBS) No.8 [2024]

(Open Market Operations Office, August 28, 2024)

To improve the liquidity of bank-issued perpetual bonds and support banks to replenish capital through perpetual bond issuance, the People’s Bank of China (PBOC) is scheduled to conduct the eighth Central Bank Bills Swap (CBS) operation in 2024 on August 28 (Wednesday). The scheduled tender operation is RMB5 billion with a term of three months. It is open to primary dealers of open market operations for quantity-bidding at a fixed rate of 0.1%. The initial settlement date is August 28, 2024 and the maturity date is November 28, 2024 (postponed in the case of public holidays).

The central bank bills swapped out of this operation are titled “Set Ⅷ of 2024 Central Bank Bills (Swap)” (Bond Code: 2401008S) with a combined face value of RMB5 billion, a coupon rate of 2.35%, and a term of three months. The bills are issued on August 28, 2024 and will mature on November 28, 2024 (postponed in the case of public holidays).