Tighter Liquidity in Money and Bond Market Is Modestly Positive for Large Chinese Banks
In advance of the Fed rate hike, liquidity in China has been tightening since early November. To curb excess financial leverage in the capital market, the People's Bank of China, or PBOC, modestly lifted the seven-day repo rates recently. As a result, the seven-day repo rate surged to 3.49% from the 2.70% average for the first 10 months, up 54 basis points from year-end 2015. The increase in interbank rates led to higher risks and lower profitability for financial institutions to conduct leverag...AGRICULTURAL BANK OF CHINA LIMITED is a China-based commercial bank. The Bank mainly operates through four business segments. The Corporate Finance segment is engaged in the deposit and loan business, small and micro business finance, settlement and cash management, trade financing and investment banking, among others. The Personal Finance segment is engaged in personal deposit and loan, credit card business and private banking business. The Treasury segment is engaged in money market business and investment portfolio management. The Asset Management segment is engaged in the provision of financial services, asset custody business, pension business and precious metal business.
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