Regulator Probes China Development Bank for Manipulating Prices in Bond Issuance

What’s new: The National Association of Financial Market Institutional Investors (NAFMII) is launching a self-discipline investigation into the China Development Bank for suspected manipulation of market prices in bond issuance and money market business.

The self-regulatory body of the interbank market, which is backed by the central bank, received tips from market participants and its own routine monitoring, indicating that the policy bank was unfairly influencing market prices. The violation involved multiple financial institutions, the regulator said.