China’s central bank has placed caps on some interest rates financial institutions offer on high-yield structured deposits, as Beijing lowers interest rates to support economic growth.
The People’s Bank of China (PBOC) said in the statement that it would regulate the lower end of rates issues on structured deposits, as rates on some products in the market breached upper limits. The structured deposit is the most popular wrapper in the Chinese market with a 51.4% market share across more than 3,700 products in 2019 , according to SRP data. Includes: Private Banking, Leverage, Flow & Others © Copyright StructuredRetailProducts.com 2020 Banks hav
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