B3312, China Reconstruction Bond Loan, Three Banks 50 Dollars, 1943

B3312, China Reconstruction Bond Loan, Three Banks 50 Dollars, 1943.

Fine condition, please refer the picture, circulated.

Issued in 1943 by three banks of China. The face value is 50 China’s Dollar.

It is a kind of government bond, but it can be circulated in the market as legal banknotes. It is the emergency notes issued during the war, to solve the fiscal problems, without leading to inflation.

The interest rate is different from different duration.

Duration half year: 6% annum.
Duration 1 year: 7.1% annum.
Duration 2 years: 7.95% annum.
Duration 3 years: 9.98% annum.