为提高中央国库现金使用效益，加强财政政策与货币政策的协调配合，财政部、中国人民银行定于2025 年12月26日上午9:00至9:30，通过中国人民银行中央国库现金管理商业银行定期存款业务系统进行2025 年中央国库现金管理商业银行定期存款（十三期）招投标。本期操作量1500亿元，期限1个月（28 天），起息日为2025年12月26日，到期日为2026年1月23日（遇节假日顺延），以利率招标、单一价位 中标方式面向中央国库现金管理商业银行定期存款业务参与银行进行招投标。 财政部、中国人民银行定于2025年12月26日上午9:50至10:20，通过中国人民银行中央国库现金管理商 业银行定期存款业务系统进行2025年中央国库现金管理商业银行定期存款（十四期）招投标。本期操作 量600亿元，期限14天，起息日为2025年12月26日，到期日为2026年1月9日（遇节假日顺延），以利率 招标、多重价位中标方式面向中央国库现金管理商业银行定期存款业务参与银行进行招投标。 ...

央行公告，为提高中央国库现金使用效益，加强财政政策与货币政策的协调配合，财政部、中国人民 银行定于2025年12月26日上午9:50至10:20，通过中国人民银行中央国库现金管理商业银行定期存款业 务系统进行2025年中央国库现金管理商业银行定期存款（十四期）招投标。本期操作量600亿元，期限 14天，起息日为2025年12月26日，到期日为2026年1月9日（遇节假日顺延），以利率招标、多重价位中 标方式面向中央国库现金管理商业银行定期存款业务参与银行进行招投标。招投标有关事宜按照《中央 国库现金管理商业银行定期存款业务操作规程》、《中央国库现金管理商业银行定期存款招投标规则》 及相关规定执行。 ...

Core Points - The Ministry of Finance has announced the implementation of the 11th and 12th phases of central treasury cash management time deposits for 2025 [1] Group 1: Deposit Details - The 11th phase deposit has a term of 1 month with a planned deposit amount of 120 billion yuan, starting from November 24, 2025, and maturing on December 22, 2025 [1] - The 12th phase deposit has a term of 21 days with a planned deposit amount of 80 billion yuan, starting from November 24, 2025, and maturing on December 15, 2025 [1] Group 2: Auction Process - The auction for the 11th phase deposit is scheduled from 9:00 AM to 9:30 AM on November 24, while the auction for the 12th phase deposit is set from 9:50 AM to 10:20 AM on the same day [1] - The auctions will be conducted through the central treasury cash management commercial bank time deposit bidding system, targeting banks participating in the central treasury cash management time deposit business [1]

Core Viewpoint - The Ministry of Finance and the People's Bank of China are conducting a tender for the 2025 Central Treasury Cash Management Commercial Bank Time Deposit (Phase 11) to enhance the efficiency of cash usage and improve coordination between fiscal and monetary policies [1] Group 1 - The tender is scheduled for November 24, 2025, from 9:00 to 9:30 AM [1] - The operation volume for this tender is set at 120 billion yuan, with a maturity period of one month (28 days) [1] - The interest rate will be determined through a bidding process, using a single price method for participating banks [1]

Core Points - The Ministry of Finance has decided to implement the 10th phase of central treasury cash management time deposits for 2025, with a planned deposit amount of 120 billion yuan [1] - The deposit period is set for one month, starting from October 23, 2025, to November 20, 2025 [1] - The bidding for this deposit will take place on October 23, from 9:00 AM to 9:30 AM, through the central treasury cash management commercial bank time deposit bidding system [1]

Core Viewpoint - The Ministry of Finance and the People's Bank of China have revised the rules for the central treasury cash management commercial bank time deposit bidding process to enhance the coordination between fiscal and monetary policies [1]. Summary by Sections Central Treasury Cash Management - The revised rules aim to standardize the bidding behavior for central treasury cash management commercial bank time deposits, promoting the healthy development of this business [1]. - Central treasury cash time deposits refer to the act of depositing treasury cash in commercial banks, which must pledge sufficient collateral to obtain deposits and pay interest to the Ministry of Finance [1]. Deposit Terms and Bidding Process - The term for central treasury cash time deposits is generally within one year, including various durations such as 1 month, 2 months, 3 months, 6 months, 9 months, and shorter terms like 7 days, 14 days, and 21 days [1]. - The bidding for these deposits will be conducted through a competitive bidding system, with no minimum deposit amount set for the current period [1]. Bidding Limits and Procedures - Each participating bank's bidding amount cannot exceed 15% of the current central treasury cash time deposit bidding amount [2]. - Time deposits with terms longer than one month will use a single price bidding method, while those with shorter terms will adopt a multiple price bidding method [2]. - The minimum bidding increment is set at 0.01%, with a minimum bid limit of 0.1 billion yuan [2]. Bidding Results and Emergency Procedures - If the total bids are less than or equal to the current bidding amount, the full amount will be accepted; if greater, bids will be accepted based on higher interest rates until the bidding amount is met [2]. - In case of normal bidding issues, banks must report to the central treasury cash management operation room and submit an emergency bidding form [3]. - The results of the bidding for time deposits longer than one month will disclose the bid amounts, terms, and interest rates, while shorter-term results will only disclose amounts and terms [4]. Implementation - The revised rules will take effect from the date of publication [4].

Core Points - The People's Bank of China and the Ministry of Finance will conduct a tender for the central treasury cash management commercial bank time deposit on September 17, 2025 [1] - The operation volume for this tender is set at 150 billion yuan, with a maturity period of one month (28 days) [1] - The interest rate bidding will be open to banks participating in the central treasury cash management commercial bank time deposit business [1]

Core Viewpoint - The Ministry of Finance and the People's Bank of China are set to conduct a tender for the central treasury cash management commercial bank time deposit, aimed at enhancing the efficiency of cash usage and improving the coordination between fiscal and monetary policies [1] Group 1: Tender Details - The tender will take place on September 17, 2025, from 9:00 to 9:30 AM [1] - The operation volume for this round is set at 150 billion yuan, with a maturity period of 1 month (28 days) [1] - The interest start date is September 17, 2025, and the maturity date is October 15, 2025, with adjustments for holidays [1] Group 2: Participation and Regulations - The tender is open to banks participating in the central treasury cash management commercial bank time deposit business [1] - The tender process will adhere to the operational regulations and rules established for the central treasury cash management commercial bank time deposit [1]

Core Viewpoint - The Ministry of Finance and the People's Bank of China are conducting a tender for the central treasury cash management commercial bank time deposit, aiming to enhance the efficiency of cash usage and improve coordination between fiscal and monetary policies [1] Group 1: Tender Details - The tender will take place on September 17, 2025, from 9:00 to 9:30 AM [1] - The operation volume for this round is set at 150 billion yuan, with a maturity period of one month (28 days) [1] - The interest rate bidding will be open to banks participating in the central treasury cash management commercial bank time deposit business [1] Group 2: Operational Guidelines - The tender process will adhere to the "Central Treasury Cash Management Commercial Bank Time Deposit Business Operation Regulations" and the "Central Treasury Cash Management Commercial Bank Time Deposit Tender Rules" [1] - Relevant regulations and procedures will be followed during the tender [1]

Core Viewpoint - The Ministry of Finance and the People's Bank of China are conducting a tender for the central treasury cash management commercial bank time deposit, aimed at enhancing the efficiency of cash usage and coordinating fiscal and monetary policies [1] Group 1 - The tender is scheduled for September 17, 2025, from 9:00 to 9:30 AM [1] - The operation amount for this round is set at 150 billion yuan, with a term of one month (28 days) [1] - The interest start date is September 17, 2025, and the maturity date is October 15, 2025, with adjustments for holidays [1]