人民银行将发行2025年第五期、第六期中央银行票据

Core Viewpoint - The People's Bank of China (PBOC) is set to issue two new central bank bills in Hong Kong to enhance the availability of high-credit-rated RMB financial products and improve the RMB yield curve [1] Group 1: Central Bank Bills Issuance - The PBOC will issue the fifth and sixth phases of central bank bills on August 25, 2025, through the Hong Kong Monetary Authority's debt instrument central settlement system [1] - The fifth phase of the central bank bill has a term of 3 months (91 days), with a fixed interest rate and a total issuance amount of RMB 30 billion [1] - The sixth phase of the central bank bill has a term of 1 year, also with a fixed interest rate, and a total issuance amount of RMB 15 billion [1] Group 2: Bill Details - The fifth phase will have an interest start date of August 27, 2025, and a maturity date of November 26, 2025, with the maturity date adjusted for holidays [1] - The sixth phase will have an interest start date of August 27, 2025, and a maturity date of August 27, 2026, also adjusted for holidays [1] - Both phases of the central bank bills will have a face value of RMB 100 and will be issued using a Dutch auction method, with the bidding subject being the interest rate [1]