Government Selects KB Securities, NH Investment & Securities, and Others as Outstanding Treasury Bond Dealers for the First Half of This Year
[Asia Economy Sejong=Reporter Son Seon-hee] The Ministry of Economy and Finance announced on the 1st that it has selected five companies?KB Securities, NH Investment & Securities, Meritz Securities, Cr?dit Agricole, and Kookmin Bank?as excellent government bond primary dealers (PDs) for the first half of 2022.
The primary dealer system is a system that selects financial institutions with certain qualifications to ensure the stable issuance, underwriting, and distribution of government bonds, granting them the authority to underwrite government bonds and imposing related obligations.
This selection result is based on a quantitative evaluation of PDs' performance in fulfilling obligations such as underwriting, trading, holding, and submitting quotes for government bonds from January to June, in accordance with the "Regulations on the Issuance of Government Bonds and Operation of Government Bond Primary Dealers."
The five selected companies will be granted the right to additionally underwrite a certain percentage of government bond competitive bidding amounts non-competitively compared to other PDs for a total of six months from next month until February of next year. They are also scheduled to receive commendations from the Deputy Prime Minister for Economy in the future.
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The Ministry of Economy and Finance stated, "We plan to continuously develop the government bond primary dealer system, which is the core foundation for the issuance and underwriting of government bonds," adding, "To ensure smooth underwriting by government bond primary dealers and to create a fair market environment, we will regularly review the operational performance of the current primary dealer system and, based on close communication with the market, continuously identify tasks for system improvements to enhance issuance conditions and PD underwriting capabilities."
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