Interbank deposit certificates are book-entry time deposit certificates issued by deposit-taking financial institutions in the national interbank market, and their investment and trading subjects are members of the national interbank lending market, fund management companies and fund products. Deposit-taking financial institutions can determine the issuance amount and duration of each interbank deposit certificate by themselves within the filing quota of the current year, but the single issuance amount shall not be less than 50 million yuan.
Among them, the term of fixed-rate certificates of deposit shall not exceed 65,438+0 years in principle, which are 65,438+0 months, 3 months, 6 months, 9 months and 65,438+0 years respectively, and shall be priced with reference to the Shanghai Interbank Offered Rate in the same period. Floating-rate certificates of deposit bear interest based on the Shanghai Interbank Offered Rate, with a term of 1 year or more in principle, including 1 year, 2 years and 3 years.
Interbank certificates of deposit, as a substitute for interbank deposits, have improved the short, medium and long-term interest rate curve of Shibor quotation in the interbank lending market. From August, 2065438 to August, 2003, the central bank has considered trying to issue interbank certificates of deposit in the interbank market, and launched relevant policies in a timely manner, thus opening the prelude to the market-oriented reform of deposit interest rates.