Volatility fears obstruct China Treasury futures growth
Commercial banks barred despite support for their entry from securities regulator
The China Banking Regulatory Commission (CBRC) has barred commercial banks from participating in the onshore Treasury bond futures market, due to fears of a sharp increase in volatility if this group – which holds nearly 70% of the country's cash Treasury bonds – is allowed into the futures market.
On July 28, the CBRC – the primary regulator for commercial banks – rejected a proposal from the
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