B3332, China Reconstruction Bond Loan, Three Banks 1000 Dollars, 1942

B3332, China Reconstruction Bond Loan, Three Banks 1000 Dollars, 1942.

Fine condition, please refer the picture, circulated.

Issued in 1942 by three banks of China. The face value is 1000 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.