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Commercial Draft Interbank Discounting - Repo


 

Introduction

Commercial draft inter-bank discounting - repo refers to the transaction that the bearer sells the legal and undue commercial draft to financial institutions, and then buys it back at a later date according to agreed time, price and method. Repo can be classified into buying and agreeing to sell in the future (reverse repo) and selling and agreeing to repurchase in the future (repo). Commercial draft rights belong to the seller in the entire trading process.

Features

1. Maximize the capital returns through finance;

2. Promote financial liquidity.

Discount Rate

Generated by spread on basis of 3M SHIBOR.

Target Customers

1. Financial institutions with operational qualification of billing services;

2. A special credit line of bill financing acquired from Bank of China.

Process

1. Applicants apply and submit related materials;

2. The bank examines the commercial drafts and other materials;

3. With ratification of drafts and materials, the two parties sign a repo business contract;

4. The bank conducts the repo business for the applicant and examines and approves the fund;

5. On the maturity date of the repo contract, the original seller repurchases as scheduled.

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