‘It’s a magical thing’: PBoC steps in to support bank CD

China’s central bank offered investors a way of hedging the risk of a bank certificate of deposit this week, allowing Bank of Jinzhou to raise Rmb2bn ($289m) after suspicions it would be the next small bank to fail. Rebecca Feng reports.

  • By Rebecca Feng
  • 13 Jun 2019

The bank, based in the northeastern Liaoning province, has not issued a negotiable certificate of deposit (NCD) for the past two weeks, after widespread rumours that it was going to follow Baoshang Bank, a tiny lender that was bailed out in May.

The People’s Bank of China stepped in to make sure that ...

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