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Media: Regulators require that the duration of newly reported retail bond funds should not exceed two years, and interest rate risks should be strictly controlled.

2024-08-13

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Recently, the bond market has been at the center of controversy. Not only has the central bank personally stepped in to guide expectations, but the China Securities Regulatory Commission has also taken steps to regulate bond fund risks. The bond market, which has been in a bull market for three years, is now at a historical crossroads.

On August 5, the sale of bonds by the four major banks caused a slight adjustment in the market. On August 7, the zero-yuan reverse repurchase operation conducted by the central bank once again increased the cautious sentiment of the market; on the same day, the China Interbank Market Transaction Association launched a self-discipline investigation on several commercial banks, and issued an announcement on the morning of the 8th to investigate and deal with the lending accounts and interest transfer behaviors of small and medium-sized financial institutions. The bond market fell again. On August 9, the central bank once again introduced the net value mechanism of asset management products in a column, clearly reminding investors of the risks in the bond market.

At the same time, after suspending the approval of bond funds for more than a month, the regulator has also issued new guidance on the duration of bond funds. Securities China reporters learned from the fund industry that recently, regulators have required that the duration of newly reported retail bond funds should not exceed two years, strictly control interest rate risks, and strengthen risk management such as the sales suitability and liability liquidity of bond funds. (Securities Times Securities China)