Result of the tenders of the People’s Bank of China RMB Bills held on 22 May 2024

The People’s Bank of China held a tender for three-month RMB bills on May 22, 2024. The total application amount was RMB 68,410 million, and the issue amount was RMB 30,000 million. The average accepted coupon rate was 2.63%, with the highest accepted rate at 2.75% and the lowest at 1.75%. The allocation ratio at the highest accepted coupon rate was approximately 2.35%. The People’s Bank of China also held a tender for one-year RMB bills on May 22, 2024. The total application amount was RMB 53,894 million, and the issue amount was RMB 20,000 million. The average accepted coupon rate was 2.60%, with the highest accepted rate at 2.70% and the lowest at 1.75%. The allocation ratio at the highest accepted coupon rate was approximately 69.32%. Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/05/20240522-3/