B3344, China Reconstruction Bond Loan, Four Banks 10 Dollars, 1942

B3344, China Reconstruction Bond Loan, Four Banks 10 Dollars, 1942.

Fine condition, please refer the picture, circulated.

Issued in 1942 by four banks of China. The face value is 10 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.