BoCom issues China’s first residential mortgage ABS based on blockchain

On September 26th, Bank of Communications (BoCom) successfully issued the first instalment of RMB9.314 billion personal housing mortgage loan assets backed securities (ABS) in 2018.

On September 26th, Bank of Communications (BoCom) successfully issued the first instalment of RMB9.314 billion personal housing mortgage loan assets backed securities (ABS) in 2018.

It includes Senior A1 tranche with 3.80% coupon interest rates and 2.25 times subscription ratio and Senior A2 tranche with 4.78% times coupon rate and 2.36 times subscription ratio.

This is the first credit asset securitization project based on block chain technology in the market.

Through the block chain asset securitization platform Jucailian (聚财链) independently developed by BoCom, the asset securitization project information and asset information can both be stored on blockchain.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/bocom-issues-chinas-first-residential-mortgage-abs-based-on-blockchain/.

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