Sberbank allowed the issue of bonds in yuan
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Deputy Chairman of the Board of Sberbank Alexander Vedyakhin at the Finopolis forum organized by the Bank of Russia in Moscow said that the credit institution “is considering the feasibility of placing its own bonds in yuan.”
He told reporters, including Kommersant, that the specific parameters of the placement of bonds in yuan – volumes and terms – “will be dictated by market conditions.”
According to Mr. Vedyakhin, lending in yuan is a new tool for the bank. He recalled that Sberbank recently launched a dual-currency deposit in the ruble/yuan currency pair in the SberBusiness Internet bank.
“We already see moderate demand for this instrument. In addition to lending, clients can also place yuan and hedging instruments. Clients place free cash in structural deposits and swaps,” he said.
Yuan became the only one of the world’s reserve currencies in which Russians are not threatened by sanctions risks. At the same time, at the end of October, the Chinese currency fell against the ruble by more than 20% since the beginning of the year. The first Russian issuer to issue yuan bonds on the domestic market was “Rusal”.
Read about the increased interest in the Chinese currency in the material “Kommersant FM” Yuan on the rise.
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