About book entry treasury bonds, how to buy and sell book entry treasury bonds

For traders who are generally new to the market, there are more long dips and less short dips, and in the context of the commodity market presenting a buyer's market, **** is often easier than ****, so traders should grasp the opportunity to short on dips. ** tends to rise slowly, fall fast and sharply.

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Book-entry Treasury bonds can be obtained through banks or ** exchanges.

To trade, the customer goes to the bank to open a treasury bond custody account, and then he can trade book-entry treasury bonds. Or open a personal ** account.

Then go to the ** business department of treasury bond sales to fill in the amount of treasury bonds that need to be booked and subscribed, and then open a margin account, so that the account can also buy and sell book-entry treasury bonds.

Extended information] Treasury bonds are the so-called bonds issued by the state, which are issued on the basis of the credit of the state. Generally speaking, since the issuer of treasury bonds is the state, it has the highest creditworthiness and is recognized as the safest Shannianqiao investment vehicle. In many cases, the interest rate of government bonds will have an impact on the financing scale and bond interest rate of the whole society.

In the case of treasury bonds, it is a creditor-debtor relationship formed by raising funds through the issuance of bonds to the society in accordance with the general principles of bonds. Therefore, the creditor of the treasury bond can be a citizen, legal person or other organization at home and abroad, as well as a national or regional ** and an international financial organization, but the debtor can generally only be a state. Of course, there are many types of government bonds, such as deficit government bonds, construction government bonds, special government bonds and war government bonds according to their use; According to the standard of issuing certificates, it can be divided into certificate treasury bonds and book-entry treasury bonds.

Certificate-type treasury bonds are mainly issued to individual investors. Its issuance and redemption are handled through the savings outlets of major banks, the outlets of postal savings departments, and the treasury bond service departments of the finance departments. Its outlets are all over the country's urban and rural areas, which can meet the needs of the masses to purchase and redeem to the greatest extent.

Investors who purchase certificate-type treasury bonds can hold the money during the issuance period and go to various outlets to fill in the bulk orders and pay for the purchase. The issuing point shall fill in the voucher-type treasury bond receipt voucher, which shall include the date of purchase, the name of the purchaser, the type of coupon purchased, the amount purchased, the number of the identity document, etc., and submit it to the purchaser for receipt after filling it out. Formalities and bank fixed deposits.

The procedures are similar.

Certificate-type treasury bonds are sold in whole numbers starting at 100 yuan and purchased at face value. After the issuance period, the designated agency can continue to sell the certificate treasury bonds redeemed in advance by the customer within the control index. When investors purchase after the issuance period, the bank will re-fill the voucher-type treasury bond receipt voucher, and the investor will still purchase at face value when purchasing.

The purchase date is the value date. When redeeming, the interest will be calculated according to the actual holding days and the interest rate of the corresponding grade. China first began to issue domestic public bonds at the end of the Qing Dynasty and borrowed a large amount of foreign debts that humiliated the country.

Although book-entry treasury bonds are more troublesome when they are purchased for the first time, because they need to open an exchange, they do not need to be troubled again if they carry out relevant operations later. This is still a great advantage over the voucher type of going to the bank every time, and the electronic type of grabbing enough in front of the computer every time.

Exchanges:

The rich man needs to go to the ** exchange.

Open a treasury bond account card or a ** account card, of course, now a variety of ** business offices are located in various cities of the superior geographical location.

Wealthy owners can also handle it through these local securities firms that are qualified to open accounts.

in your margin.

After a certain amount of margin is deposited in the account, you can enter **, ** and the number of trading lots through the trading system of **exchange** to buy and sell. The transaction unit is a lot (usually 1,000 yuan per lot) The trading system can be traded by swiping a card, **, network, etc., and the rich man can refer to the business introduction book obtained when opening an account.

Commercial Bank Counters:

Book-entry treasury bonds can also be purchased over the counter of a commercial bank, usually with a fund account (debit card) at the bank.

and open a bond trading account to conduct over-the-counter book-entry treasury bond transactions. The unit of transaction is one share (usually $100 per copy).

It is important to emphasize here that the bonds** of commercial banks are not a bond market.

on real-time**. Since the undertaking bank can adjust the buying and selling price of book-entry treasury bonds according to market conditions, the ** of each bank may be different. The relevant transaction hours are 10:00-15:30 from Monday to Friday.

How it is recorded

Book-entry treasury bonds record claims through the bond custody system, and investors must open an account to purchase book-entry treasury bonds; For the purchase of certificate-type treasury bonds, there is no need to open an account, and the issuing bank will present the receipt of certificate-type treasury bonds to investors as proof of creditor's rights records.

Mechanism notSame.

The coupon rate of book-entry treasury bonds is determined by the bidding of the members of the treasury bond underwriting syndicate; The interest rate on certificate treasury bonds is the Ministry of Finance and the People's Bank of China.

Refer to the bank deposit interest rate for the same period.

and market supply and demand.

Expression

Book-entry treasury bonds can be listed and circulated; Certificate-type treasury bonds cannot be listed for circulation, but they can be redeemed in advance.

The degree of foreknowledge varies

The secondary market for book-entry treasury bonds.

Trading** is determined by the market', the buy/sell** (net price) may be higher or lower than the issue value. When selling ** is higher than ****, it indicates that the seller not only obtains the interest of the treasury bonds during the holding period, but also obtains part of the spread income, and when the selling ** is lower than ****, it indicates that the seller has obtained the interest of the treasury bonds during the holding period, but also pays part of the spread loss.

Therefore, investors who buy book-entry treasury bonds and sell them before maturity cannot predict the return in advance. At the time of issuance, the interest rate of the certificate treasury bond is stipulated to be redeemed in advance at different times, and the investor who redeems the certificate treasury bond in advance will pay interest according to the actual holding time and the corresponding interest rate grade. In other words, the income that investors can obtain by redeeming certificate treasury bonds in advance is predicted in advance and will not follow the market interest rate.

The changes and changes.

There are five main differences between voucher treasury bonds and book-entry treasury bonds, and the differences between the two are described in detail below.

Records are in different forms

After the purchase of certificate-type treasury bonds, the bank will issue and present a receipt to the purchaser to prove that the purchaser has purchased the treasury bonds as a record of creditor's rights. Book-entry treasury bonds need to open a special account to purchase, and the record of claims is also kept in the account information.

Monetization is done in different ways

Certificate-type treasury bonds cannot be circulated in the market, that is, they cannot be transferred to others, but they can be cashed in advance; Book-entry national fiber pure bonds can be listed and circulated on the Shanghai Stock Exchange, Shenzhen Stock Exchange, and bank counters, and their ** is determined by the market.

Interest is calculated in different ways

Interest on certificate-type treasury bonds starts from the date of purchase; Interest on book-entry treasury bonds begins to accrue from the date of issuance.

The coupon rate is determined in a different way

The coupon rate of certificate treasury bonds is determined by the Ministry of Finance and the People's Bank of China with reference to the bank deposit interest rate and market supply and demand during the same period. Book-entry treasury bonds are determined by the bidding of the members of the treasury bond underwriting syndicate.

The nature of the vouchers is different

Certificate-type treasury bonds are issued by banks, and the face value is not printed on the face of the bonds; Book-entry treasury bonds are based on the actual payment amount of the purchaser.

Certificate-type treasury bonds refer to the state's use of "treasury bills" instead of printing physical bills.

Treasury bonds issued in the form of "receipt vouchers". Certificate-type treasury bonds have the characteristics of being similar to and superior to savings, and are often referred to as "savings treasury bonds", which are the ideal investment methods for individual investors for the purpose of savings. Compared with savings, the main characteristics of certificate treasury bonds are safety, convenience, and moderate returns.

Book-entry treasury bonds refer to bills that do not have a physical form, but are recorded in a computer account. In China, Shanghai is the first to trade in the Xun Orange Exchange.

and Shenzhen Exchange has set up computer accounts for investors.

Therefore, it is possible to use the system of ** exchange to issue bonds.

Regulations of the People's Republic of China on Treasury Bills

Article 7 The issuance of treasury bills and the repayment of principal and interest shall be handled by the financial departments and the People's Bank of China under the unified leadership of the people at all levels.

Organize relevant departments to handle it through multiple channels.

Treasury bills may be used as collateral, but they may not be circulated as cargo and mountain currency.

Categories: Business Banking >> bonds.

Analysis: Book-entry treasury bonds, also known as paperless treasury bonds, refer to a kind of treasury bonds held by investors in the account of securities and securities bonds, and only obtain receipts or statements to prove their ownership, which has the characteristics of low cost and strong liquidity.

Due to the abundant types of book-entry treasury bonds and the flexible way of interest payment, it can provide investors with more choices. Investors can buy book-entry treasury bonds at any time on the exchange or at the counter of commercial banks, and can also sell them at any time, whereas in the past, ordinary investors could only buy and sell book-entry treasury bonds through the Shanghai and Shenzhen stock exchanges, and the opening of counter transactions in commercial banks enables investors to invest in book-entry treasury bonds through bank counters with a wider range of outlets. Since the commercial banks that undertake over-the-counter transactions are all members of the inter-bank bond market, they can buy treasury bonds through the inter-bank market and then sell them to ordinary investors according to the sales situation in the over-the-counter market, so as to satisfy investors' demand for treasury bonds to the greatest extent.

The ** of book-entry treasury bonds will change with many factors such as market interest rates, supply and demand of treasury bonds, etc. When interest rates fall, investing in book-entry treasury bonds can gain value-added dust and sliding benefits, otherwise there is a secondary market risk.

The trading methods of book-entry treasury bonds are divided into exchange transactions and interbank transactions.

Investors who buy book-entry treasury bonds must go to the **company** account, or go to the bank to open a personal treasury bond account, in order to trade.

Book-entry treasury bonds, also known as paperless treasury bonds, are accurately defined by the Ministry of Finance.

Bonds issued in a paperless manner, recorded in the form of computer bookkeeping, and can be listed and traded.

The characteristics of book-entry treasury bonds are as follows:

1. The security of funds, the treasury bonds are guaranteed by the national reputation, and the investors will pay the principal by the Ministry of Finance when they hold the maturity after purchasing the book-entry treasury bonds;

2. Interest tax is exempted, and the interest on the subscription of treasury bonds is exempt from tax according to the corresponding provisions of the state. Therefore, investors who hold book-entry treasury bonds can enjoy high interest rates while also being exempt from interest tax;

3. High yield, the current yield of treasury bonds on the exchange.

It is generally higher than the interest rate of savings deposits in the same period, and also higher than that of certificate treasury bonds issued in the same period;

4. It is convenient to purchase, and investors can apply for the subscription of treasury bonds at any time on the trading day after opening a special account for treasury bond investment;

5. There are many varieties and strong selectivity, and there are currently 29 book-entry treasury bonds that have been listed and traded, with maturities ranging from 1 year to 20 years;

6. Good liquidity, book-entry treasury bonds can be marketed through the state at any time after listing.

Make a sale. An exchange is an information platform for trading certain information and goods.

With the help of the information platform, the exchange realizes the sharing of property rights information and remote transactions. The main exchanges are the Shanghai ** Exchange.

Xinhua Commodity Spot Cloud Trading Center, Kunming *** Exchange, etc.

**Exchange is to buy and sell**, corporate bonds, **public bonds, treasury bills.

Negotiable certificates of deposit and other valuable markets. The emergence of the exchange is the buying and selling.

It creates a permanent market and becomes an institution through which monetary capital can realize long-term investment, so it is often called a long-term financial market.

**The exchange is divided into two types: the division system and the membership system. Both of these exchanges can be operated by a public body (known as a public-owned exchange), privately funded (known as a private exchange), or jointly funded and operated with a private person (known as a public-private exchange).

What is book-entry treasury bonds

Book-entry treasury bonds are issued by the Ministry of Finance, and are bought and sold by designated commercial banks with investors through electronic channels such as their business outlets and online banking, and handle custody and settlement.

Book-entry treasury bonds are convenient for circulation and transfer, which can enhance the liquidity of investors' assets.

Characteristics of book-entry treasury bonds

1.National credit.

Book-entry treasury bonds are issued with the country's reputation as a guarantee, and the Ministry of Finance pays the principal and interest, and has a high credit rating.

2.Exemption from interest tax.

According to state regulations, the interest earned on treasury bonds is exempt from tax.

3.Convenient for trading.

Investors can handle business through bank outlets, online banking and other channels as needed.

4.Good liquidity.

Book-entry treasury bonds can be bought and sold after they are listed.

How to buy book-entry treasury bonds

Investors can handle relevant business through the bank's business outlets that have book-entry treasury bond counter business, online banking and other channels.

There are 5 aspects for individual investors to buy the flow section bucket journey: 1Open ** trading; 2.Opened book-entry treasury bond counter trading; 3.business entrustment; 4.Settlement reconciliation; 5.Inquire.

The expected annualized expected return of book-entry treasury bonds

There are various ways to pay interest, and there are two main ways:

1. Buy low and sell high through ** account to get profit from the spread.

2. Hold Qiaohuai book-entry treasury bonds to earn interest at maturity.

Book-entry Treasury bonds are interest payments once or more per year. Book-entry treasury bonds can only be cashed out until the period of consumption, and they are exchanged at par value (100 yuan) with interest. If the transfer on the exchange is on the exchange, it may be at face value.