Examples of RMB Bonds in a sentence
The Group uses derivative financial instruments such as floating-for-fixed interest rate swap agreements with interest rate fluctuations in accordance with lenders’ requirements under the Group’s Studio City Project Facility and City of Dreams Project Facility (as defined in Note 12), and forward exchange rate contracts to manage its risks associated exchange rate fluctuations for the interest payments of the RMB Bonds (as defined in Note 12).
For RMB Bonds issued by corporations or other government-related entities, to qualify for inclusion in the Underlying Index as of each reconstitution, such components must be rated by Fitch Ratings, Ltd.
Provisional Administrative Rules on International Development Institutions’ Issuance of RMB Bonds (2010 Revision), foreign entities are required to receive a credit rating above AA assigned by at least one competent credit rating agency in Mainland China before the initial offering.
According to the 2010 revision of the Provisional Administrative Rules on International Development Institutions’ Issuance of RMB Bonds jointly formulated by PBoC, MoF, NDRC and CSRC, international development institution refers to multilateral, bilateral, and regional international financial institutions facilitating loans or investments for the purpose of regional development.
RMB Bonds are available on the China interbank bond market (“CIBM”) to eligible foreign investors through the CIBM Direct Access Program and through the “Mutual Bond Market Access between Mainland China and Hong Kong” (“Bond Connect”) program.
The 2023 RMB Bonds (Series 1) are unsecured obligations of the Issuer.
As at 31 December2011As at 31 December2010 (In millions of RMB) Bonds issued by PRC government 1,113 1,467 Bonds issued by the People’s Bank of China (PBOC) 33 54Bonds issued by policy banks 1,139 357Bonds issued by commercial banks andother financial institutions 3,374 2,685Others(1) 9,871 10,666 Total financial assets at fair value throughprofit or loss 15,530 15,229 Note: (1) Consists of other bonds, equity investments, investments in funds, etc.
In recognition of the cross border features of the IDI RMB Bonds, the State Administration of Foreign Exchange (SAFE) has been added to the original approval authorities (the PBC, the Ministry of Finance, the National Development and Reform Commission, and the China Securities Regulatory Commission).
The transactions for own account should be reported with further breakdown into Subscribed from RMB Bond Issuers and Bought/Sold from/to other customers and Participating AIs. Transactions in repos and reverse repos of such RMB Bonds should be reported in item 2 and excluded from item 1.
The 2023 RMB Bonds (Series 1) constitute direct and unsecured obligations of AIIB.