Special bonds issued by small and medium-sized banks have exceeded 200 billion yuan. On September 22, documents disclosed by China Bond Information Network showed that Yunnan Province will issue 4.4 billion yuan of special bonds to supplement the capital of 9 small and medium banks, and Anhui Province will issue 3 billion yuan of special bonds to supplement the capital of 4 small and medium banks.
Prior to this, the amount of special debt of small and medium-sized banks was 199.0 billion yuan. Including the amount of special debts for small and medium banks in Yunnan and Anhui provinces, the current special debt for small and medium banks has exceeded 200 billion yuan. On September 3, the Central Bank issued the “China Financial Stability Report (2021)” and pointed out that the Ministry of Finance has arranged a special debt line of 200 billion yuan to support small and medium banks in 20 regions to replenish capital.
Yunnan Province supports the development of special bonds for small and medium banks. According to the information, Yunnan Province supports the development of special bonds for small and medium banks in 2021 (Phase I)—Yunnan Provincial Government Special Bonds in 2021 ( The 17th issue) has a total issuance of 4.4 billion yuan. The varieties are book-entry fixed-rate interest-bearing bonds, all of which are new bonds, with a maturity of 10 years. The interest is paid half a year. The bond market of the stock exchange is listed and circulated, and the principal is repaid in equal amounts every year from the 6th to the 10th year (2027 to 2031) (the annual repayment is 880 million yuan), and the principal of the bonds that have been redeemed will no longer accrue interest from the redemption date.
The funds raised from the current bonds in Yunnan Province are planned to be used specifically to support Kunming City, Qujing City, Honghe Hani and Yi Autonomous Prefecture, Dehong Dai and Jingpo Autonomous Prefecture and Zhaotong City for a total of 5 For the development of 9 small and medium banks in Gezhou City, the Yunnan Provincial People’s Government entrusted Yunnan State-owned Financial Capital Holding Group Co., Ltd. to inject capital through indirect shares to supplement the capital of the above-mentioned use banks. The nine small and medium banks in Yunnan Province that used special bonds to inject capital this time are all rural credit system banks. 
< p class="image_desc">Yunnan Province small and medium-sized banks special bond capital injection.
Anhui Province supports the development of special bonds for small and medium banks. According to the information, in 2021 Anhui Province supports the development of special bonds for small and medium banks (Issue 1)-2021 Anhui Provincial Government special bonds (Issue 34) (hereinafter referred to as the “Bonds”) The proposed issuance scale is 3 billion yuan, with a term of 10 years, with interest paid every six months, and the bond principal shall be repaid in equal amounts annually from the 6th to the 10th year of the duration. This special bond is a new bond, and the raised funds are planned to be used to supplement capital by 4 banks. The 4 small and medium-sized banks in Anhui Province that have invested in this special bond are 4Rural Commercial Bank: Anhui Huaiyuan Rural Commercial Bank, Anhui Huainan Huaihe Rural Commercial Bank, Anhui Zongyang Rural Commercial Bank and Anqing Rural Commercial Bank.
According to the information disclosed, Huainan Huaihe Rural Commercial Bank, Huaiyuan Rural Commercial Bank, and Zongyang Rural Commercial Bank are all injected through equity conversion agreement deposits. Anqing Rural Commercial Bank The method of capital injection of small and medium-sized special bonds was not disclosed.
The conversion agreement deposit is an innovative capital tool to supplement the capital of small and medium banks. It is to inject local government bond funds that can be used to supplement the capital of small and medium banks in the form of deposits. The target bank replenishes the capital of the target bank, and the long-term agreement between the deposit and the target bank’s long-term agreement on deposits in the share conversion agreement stipulates that when the conditions for the conversion are met, the target bank will repay the deposits to ordinary shares, or the target bank will repay them when the deposits in the conversion agreement expire or are redeemable. Principal and interest.
According to news statistics, up to now, small and medium-sized banks have spent 206.4 billion yuan in special debt, and a total of 310 small and medium-sized banking institutions have been injected.
From the perspective of provinces, special bonds for supporting small and medium-sized banks have been issued to 20 provinces: Shanxi, Heilongjiang, Guangxi, Sichuan, Guangdong, Liaoning, Inner Mongolia, Jiangxi, Zhejiang, Fujian , Tianjin, Shaanxi, Gansu, Hebei, Shandong, Jilin, Henan, Hubei, Yunnan, Anhui, the special debt quotas obtained are respectively: 15.3 billion yuan, 12.3 billion yuan, 11.8 billion yuan, 11.4 billion yuan, 10 billion yuan, 19.6 billion yuan, 16.2 billion yuan, 7.9 billion yuan, 5 billion yuan, 5 billion yuan, 9.3 billion yuan, 4.6 billion yuan, 12.6 billion yuan, 6 billion yuan, 10 billion yuan, 12.6 billion yuan, 25.7 billion yuan, 3.7 billion yuan Yuan, 4.4 billion yuan, 3 billion yuan.