From April 10 to 19, the first and second phases of the 2024 Savings Treasury Bonds (electronic) will be officially issued.
The maximum total issuance of the two phases of electronic treasury bonds is 45 billion yuan
The maximum total issuance of the two phases of electronic treasury bonds issued this time is 45 billion yuan, an increase of 7 billion yuan over the maximum total issuance of the two phases of savings treasury bonds (electronic type) issued in October last year of 38 billion yuan.
According to the treasury bond issuance plan, the two tranches of treasury bonds are fixed-rate and fixed-term varieties. The first phase has a term of 3 years, with an annual coupon rate of 2.38% and a maximum issuance amount of 22.5 billion yuan, and the second phase has a term of 5 years, with a coupon rate of 2.5% per annum and a maximum issuance amount of 22.5 billion yuan.
Screenshot of the Ministry of Finance's website
The two tranches of treasury bonds are sold by 40 members of the 2024-2026 savings treasury bond underwriting syndicate (hereinafter referred to as the underwriting syndicate members) through the counter of the outlets. 32 members of the underwriting syndicate (hereinafter referred to as "online banking members") including ICBC also sell through their online banking. At the same time, 16 members of the underwriting syndicate, including the Industrial and Commercial Bank of China, distributed the goods through its mobile banking. In 2024, the minimum proportion of the initial basic distribution quota of savings treasury bonds (electronic) sold by the members of the underwriting syndicate for the first time is 0.25%. The purchase of each treasury bond by a single person's second-level custody account shall not exceed 3 million yuan.
Screenshot of the Ministry of Finance's website
According to media reports, the electronic treasury bonds are quite "sought-after", and investors with slow online hand speed cannot grab them at all, and many offline business outlets have been sold out within half an hour.
It was sold out in 1 minute online, and it was also popular offline
On social platforms, many netizens are also posting that "I can't grab it at all".
Screenshot of netizen comments
Only a few lucky winners who grabbed it said: "It's not easy".
Screenshot of netizen comments
"There is no quota for both online and offline for the time being. A staff member of a state-owned bank in Guangzhou said.
Not only is the channel quota "not in seconds", but offline sales are also hot.
It has been learned that the savings treasury bonds of many banks were sold out within one hour of the sale, and the treasury bonds of some banks, such as the China Merchants Bank, were particularly tight, and they were sold out within five minutes of the sale.
"Treasury bonds went on sale at half past eight, and our outlets opened half an hour earlier than usual, but at eight o'clock, residents from the surrounding areas lined up. A financial manager of a city commercial bank in Xi'an said.
"Before nine o'clock, our quota is gone. The financial manager of the business department of a state-owned bank in Xi'an said.
Why savings bonds are so sought-after
Tan Haojun, an adjunct professor at Zhongnan University of Finance and Economics, said that firstly, residents have a high degree of trust in treasury bonds, and secondly, combined with the recent trend of interest rate reductions, compared with bank deposits, the acceptance rate of treasury bonds is also higher. In fact, it also reflects that there are fewer investment channels for residents at present, and the investment risk of the stock market is also very high, so the stability of government bonds is sought after. ”
"In recent years, the interest rate of savings deposits, especially time deposits, has declined significantly, and savings treasury bonds represent national credit and can better balance income and liquidity needs, resulting in some investors to carry out certain savings substitution to diversify asset portfolios. In addition, some residents still have certain expectations for the future decline in deposit interest rates. Zhou Maohua, a macro researcher at the financial market department of Everbright Bank, said that the savings treasury bonds pay interest on an annual basis, and the early withdrawal is flexible, and the interest is calculated in stages, so as to avoid the interest loss faced by the early withdrawal of ordinary deposits, and the savings treasury bonds enjoy certain tax incentives.
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