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Large Medium SmallDetails about the issuance of negotiable certificates of deposits were unveiled by the top four Chinese State-owned banks and China Development Bank.
The total value of negotiable certificates of deposits will not exceed 19 billion yuan ($3.12 billion).
The announcement on Wednesday was made only days after the People's Bank of China announced the launch of NCDs on Sunday.
China Construction Bank Corp and Bank of China Ltd plan to issue 5 billion yuan in NCDs.
Industrial and Commercial Bank of China Ltd, Agricultural Bank of China Ltd and China Development Bank will issue 3 billion yuan in NCDs.
The duration of the issuance is three months for ABC, BOC and CCB, one month for ICBC, and six months for CDB.
The NCDs to be released are unlikely to have a significant impact on the market, Li Huiyong, an analyst at Shenyin Wanguo Securities, said to China Securities Times.
Large negotiable certificates of deposits, which can be purchased by residents and enterprises, will speed the freeing up of interest rates, said Li.
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