Derechos | Equipo Nizkor
World Bank to issue SDR bonds in China
China's central bank said Friday that it had allowed a division of the World Bank to issue bonds denominated in special drawing rights (SDR) in the country's interbank bond market.
The International Bank for Reconstruction and Development was approved to issue bonds worth 2 billion SDR (2.79 billion U.S. dollars), according to the People's Bank of China website. Chinese yuan will be the currency of settlement.
The first batch will be put on the market "soon." Interbank debt denominated in SDRs will diversify investment portfolios both in China and abroad.
The inclusion of yuan in the SDR will take effect in October.
Industrial and Commercial Bank of China (ICBC), the country's largest bank by market value, will be the lead underwriter for the issue.
These will be the first bonds denominated in the SDR since 1981.
[Source: Xinhua, Beijing, 12Aug16]
Economic, Social and Cultural Rights
|This document has been published on 16Aug16 by the Equipo Nizkor and Derechos Human Rights. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.|