People's Bank of China created SFISF's first operation scale of 500 billion yuan
Institutional data shows that from June 19th to October 7th, a total of 126 listed companies in the A -share market have disclosed for the first time as the acquirer (transaction price of more than 100 million yuan), and the transaction amount is 234.783 billion yuan.A total of 5 cases constituted a major asset reorganization transaction, with a total of 124.567 billion yuan, accounting for 53.06%of the total transaction amount.
The People's Bank of China announced on October 10th that it decided to create "Security, Funds and Insurance Companies Swap Facility (SFISF)".The first phase of operation scale is 500 billion yuan, and the vision can further expand the scale of operation.From now on, accepting eligible securities, funds, and insurance companies declare.
Experts &&, which marks the implementation of the first monetary policy tool in my country that supports the capital market, will help enhance the toughness of the capital market, inhibit the "herd effects" and other periodical behaviors, and maintain market stability.This will not expand the scale of basic currencies.
It is conducive to enhancing the toughness of the capital marketJinnai Wealth Management
The announcement states that in order to implement the requirements of the Third Plenary Session of the 20th Central Committee of the Communist Party of China on the "Establishment of Long -Effective Mechanisms to Enhance the Internal Stability of the Capital Market" and promote the healthy and stable development of the capital market, the People's Bank of China decided to create "convenient for exchange of securities, funds, and insurance companies".Supporting qualified securities, funds, and insurance companies based on assets such as bonds, stock ETFs, Shanghai and Shenzhen 300 ingredients, and other high -level liquid assets such as government bonds and central bank bills.Jaipur Wealth Management
CICC and CITIC Securities are on the list of first -level dealers of the central bank's public market business.This marks that my country's first monetary policy tools to support the capital market have landed.Such innovative tools have many transactions and high technical content. In the short term, the launch of high requirements for policy synergy and work efficiency are relatively high in the short term.Guoabong Investment
Since this year, due to various factors, the domestic A -share market has fluctuated, and some investors have unstable mentality and lack of confidence.Authoritative people &&, SFISF, as a long -term institutional arrangement, is conducive to enhancing the toughness of the capital market, suppressing "group effects" and other periodic behaviors, maintaining market stability, and also conducive to mobilizing the participation of non -bank institutions, enhancing monetary policy in capitalThe market's conduction efficiency and balance the development of markets such as bonds and stocks.
The operation scale can be further expanded
The announcement shows that SFISF's first operation scale is 500 billion yuan, and the operation scale can be further expanded at the same level.According to authoritatives, SFISF's first phase of 500 billion yuan will provide hundreds of billions of yuan in capital markets.
Pan Gongsheng, president of the People's Bank of China, recently introduced at the press conference of the New National Office that the funds obtained through this tool can only be used to invest in the stock market.Compared with other assets held by marketing bonds and central banks and market institutions, there are great differences in credit levels and liquidity.Many institutions have assets in their hands, but under the current circumstances, the liquidity is poor. Through replacement with the central bank, it can obtain relatively high -quality and high -liquidity assets, which will greatly improve the fund acquisition capacity and stock holdings of relevant institutions.Ahmedabad Investment
According to people close to the central bank, the SFISF period does not exceed 1 year, and the exhibition period can be applied for after its expiration; the scope of the mortgage may expand in the future.The flexibility of these operations shows that SFISF will have a lot of room for play.The central bank will conduct operations through specific first -level dealers.By observing the list of first -level traders, this dealer may be a China debt credit enhancement company.
It will not increase basic currency investment
SFISF is a "voucher for vouchers" and will not expand the scale of basic currencies.
Expert &&, through SFISF operations, non -silver institutions can replace the poorly liquid assets into national bonds and central tickets to facilitate repurchase or selling financing on the market.Give money directly, so it will not increase the basis of basic currencies, nor is it quantified and loose.Although the basic currency does not invest, from international experience, the Fed has launched similar regular securities lending convenience (TSLF) during the subprime mortgage crisis, which has played an important role in the rapid stability of the financial market.
In addition to SFISF, Pan Gongsheng has previously announced that he has created stock repurchase and special re -loan of stocks, guiding banks to provide loans to listed companies and major shareholders, supporting repurchase and increasing stocks.
Xu Zhong &&, vice chairman of the China Banking Market Dealer Association, the two structural monetary policy tools that support the healthy development of the capital market this time are a package of institutional measures to improve the capital market.The construction of the plenary market function of improving the coordination of investment and financing phases.The creation of similar structured monetary policy tools has precedent internationally.
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