Interbank lending posted a sharp decline in April compared to March, according to the latest data from the People’s Bank of China (PBOC).
The 2018 April Financial Market Operating Situation Report (2018年4月份金融市场运行情况报告) released last week by PBOC indicates that a total of 3.6 trillion yuan in bonds were issued in April.
325.1 billion yuan in central government bond were issued, alongside 301.8 billion yuan in local government bonds, 566.9 billion yuan in financial bonds, 820.0 billion yuan in corporate bonds, 14.6 billion yuan in asset-backed securities, and 1.4 trillion yuan in interbank CD’s.
Interbank bond market spot transactions were worth 9.3 trillion yuan, for a daily average of 463.9 billion, marking a YoY increase of 25.91% and a n MoM rise of 3.44%.
China’s money market transaction volume saw a decline in April, while money market rates have steadily risen.
Interbank money market transactions were worth a total of 57.9 trillion yuan, for YoY growth of 16.90%, and an MoM decline of 22.04%.
Pledged repo transactions were worth 48.6 trillion yuan, for YoY growth of 16.50%, and a MoM decline of 20.68%.
Outright repo transactions were worth 900 billion yuan, for a YoY fall of 49.41%, and a MoM decline of 47.71%.
Interbank lending transactions were worth 8.4 trillion yuan, for YoY growth of 38.97%, and a MoM decline of 26.45%.