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TABLE OF CONTENTS CHAPTER I GENERAL CHAPTER II CREDIT EXTENSION CHAPTER III AUTHORIZATION CHAPTER IV APPROVING PROCEDURES CHAPTER V RISK CONTROL CHAPTER VI PUNISHMENT PROVISIONS CHAPTER VII SUPPLEMENTARY CHAPTER I GENERAL Article 1. The present Measures have been formulated according to the relevant provisions of the People's Bank of China and the head office of CBC for the purpose of standardizing the interbank financing of foreign-funded banks, guarding against financing risks, promoting the healthy development of the interbank financing between foreign-funded banks and our bank, ensuring the safety and efficiency of the assets of our bank, promoting and driving the development of other businesses and enhancing the overall power of our bank. Article 2. The head office of the CBC exercises concentrated administration over the interbanking financing of foreign-funded banks, gives credit extensions uniformly, and holds it a general rules for the head office to engage directly in the business. The term "concentrated administration" refers to that the interbank financing business of foreign-funded banks shall be put under the centralized administration of the head office of the CBC, and the policies concerning the interbank financing of foreign-funded banks shall be formulated by the head office of the CBC. "Giving credit extension uniformly" refers to that the head office of the CBC gives credit extension to foreign-funded banks uniformly. The head office determines the amount of credit extension to be granted to the foreign-funded banks for the Renminbi financing business by taking the amount of credit extension in foreign currency businesses into consideration. "The general rule for the head office to engage directly in the business" refers to that the interbank financing businesses of foreign-funded banks that are large in amount and long-term shall be directly managed by the head office, while those that are small in amount and short-term shall be managed by the branch banks on the basis of authorization. Article 3. The present Measures are applicable to the renminbi financing business between our bank and foreign-funded banks. The Office for Capital Dealings of the head office and the branch banks shall abide by the provisions of the present Measures. CHAPTER II CREDIT EXTENSION Article 4. The accrediting party to the interbank financing business of foreign-funded banks is the head office of the CBC. No branch bank of the CBC may give credit extensions to foreign-funded banks without authorization. Article 5. The accredited party to the interbank financing business of foreign-funded banks are the head offices of the foreign-funded banks. The amount of credit extension enjoyed by the branch banks of the foreign-funded banks shall be determined by the head office thereof. Article 6. The head office of the CBC establishes an evaluation system for foreign-funded banks by taking various elements into consideration including the business strength, financial standing, international credit level of the foreign-funded banks, their level of cooperation with our bank, etc. and according to the indicators including the total assets, total capital, pretax profits, return on assets, bad assets ratio, their support to our bank, etc. and determine the amount of credit extension for the financing of the foreign-funded banks by combining the amount of credit extension of foreign currency businesses. Article 7. The content of the credit extension of foreign-funded banks shall include such items as the name of the accredited party, the total amount of credit extension, the term of credit extension, etc. Article 8. The amount of credit extension of foreign-funded banks is, as a general rule, readjusted once a year. However, if important changes take place with regard to the business standing or credit level of the foreign-funded banks or the policies of the Central Bank of our country concerning the administration of foreign-funded banks, the head office should readjust in due time the amount of credit extension to be given to the foreign-funded banks. Article 9. The head office may determine the promised amount of interbank financing with foreign-funded banks within the amount of credit extension available according to the demand of business development. Article 10. The Office of Capital Dealings of the head office and the branch banks authorized to engage in the said business must observe the provisions concerning credit extension with foreign-funded banks. CHAPTER III AUTHORIZATION Article 11. The branch banks' engagement in the interbank financing business with foreign-funded banks shall be based on the authorization of the head office. The authorized branch banks that are engaged in this business may not further transfer the authorization to the organizations on lower levels. Article 12. The head office determines the amount of credit extension to be granted to the branch banks according to the financial environment of the branch banks, the distribution of foreign-funded banks within the locality, the level of management of the branch banks, the cooperation of the foreign-funded banks with our bank, etc. Article 13. The content of authorization granted to the branch banks includes the amount of renminbi capital that the branch bank is allowed to lend to foreign-funded banks, the different limits on the singular clients of the foreign-funded banks, the term of financing, etc. Article 14. As a general principle, the head office grants authorizations to the branch banks to engage in the interbank financing business once a year. Article 15. According to the Central Bank management policies on foreign banks, foreign banks' changes in credit and compliance, management and operation states of branches of foreign-funded banks with the same location of the branches and the branches themselves, etc, the head office shall adjust the authorization of the branches, including increasing, decreasing or cancelling their authority . Article 16. The branch banks shall conduct business within the range of authorization granted by the head office and may not go beyond. In any special circumstance arises so that it has to go beyond the authorization of the head office, it shall file a timely application to the head office for alterations and may not conduct its business until the head office so approves. CHAPTER IV APPROVING PROCEDURES Article 17. The Office of Capital Dealings of the head office is the management entity of the head office that is directly engaged in the business of foreign financing; it is responsible for the interbank financing business of the head office with foreign-funded banks. Article 18. The Office of Capital Dealings of the head office and the branch banks must establish a rigid set of procedures of examination and approval so as to ensure the implementation of the provisions concerning credit extension and authorization. Article 19. A foreign-funded bank who applies to our bank for borrowing renminbi capital shall submit the following materials: (1) An application for financing; (2) A statement of the purposes of interbank borrowing; (3) If the applicant is a branch organization of a foreign-funded bank, it shall submit a letter of authorization of the head office thereof allowing it to engage in the business of renminbi financing; (4) A combined balance sheet; (5) A combined profit and loss statement; (6) A combined statement of cash flow; (7) Approval documents for entering the Chinese market, including the business license, financial permit, etc.; and (8) Other materials required by the People's Bank of China. Article 20. The Office of Capital Dealings of the head office and the branch banks shall examine carefully the relevant materials submitted by the foreign-funded banks, give its opinions about financing and report for approval according to the stipulated procedures of approval. Article 21. The power of the Office of Capital Dealings of the head office in examining and approving the financing business of foreign-funded banks shall be: (1) The power of the president or vice president of the head office: If the amount of a single transaction exceeds RMB500 million or the term is longer than 2 years, the Office of Capital Dealings shall report to the general manager of the Planning and Financial Department who, after affixing his signature, submit to the president or vice president in-charge of the head office for examination and approval; (2) The power of the general manager of vice general manager in-charge of the Department of Planning and Finance: If the amount of a single financing transaction is RMB500 million or less or the term is 2 years or shorter, it shall be subject to the approval of the general manager or vice general manager in-charge of the Department of Planning and Finance; (3) The power of the chief of the Office of Capital Dealings: If the amount of a single financing transaction is less than 50 million and the term is shorter than a year, it shall be subject to the approval of the chief of the Office of Capital Dealings upon the authorization of the general manager of the Department of Planning and Finance. Article 22. The Office of Capital Dealings and the branch banks shall, when handling financing businesses, enter into written agreements of interbank financing with the foreign-funded banks involved. The text of agreement shall be the uniform agreement drafted by the head office, and may not accept any clause that is unfavorable to our bank. Article 23. The interest rates for the money lent out shall, as a general rule, be the same as that for loans at the same level. When determining the specific rate for lending money, it may be floatable appropriately according to the rates of the market and the risks of the foreign-funded banks, but the maximum lowering rate may not surpass the lowest rate prescribed by the People's Bank of China. The relevant provisions of the state shall be applicable to the settling of interests. Article 24. For the interbank financing commitment agreements concluded between a foreign-funded bank and our bank, we should charge a commitment fee at a certain rate according to the relevant provisions of the People's Bank of China. Article 25. The Office of Capital Dealings of the head office and the branch banks shall prepare special application forms for the interbank financing with foreign-funded banks. When going through the procedures of examination and approval, they shall submit complete application forms and materials of the clients, financing agreements, etc. and report to the competent authorities for approval. Article 26. The branch banks that are authorized to engage in the interbank financing business with foreign-funded banks shall formulate procedures of their own for examination and approval by referring to the examination and approval rules of the Office of Capital Dealings. CHAPTER V RISK CONTROL Article 27. The branch banks that are authorized to engage in the interbank financing business with foreign-funded banks shall rigidly follow the administrative provisions of the head office concerning the financing business, including authorization, credit extension, examination and approval, etc. and take urgent measures to guard against financing risks. Article 28. The Office of Capital Dealings of the head office and the branch banks shall establish a perfect system for the registration of financing businesses. Archivist files shall be set up for financing materials, including the application materials of the clients for financing, examination and approval materials, financing agreement, vouchers for the transfer of money, archivist records, vouchers for the repayment of money, accounting books, etc. Such archivist files shall be kept properly and be inspected regularly. Article 29. A system for reporting financing businesses shall be established. The branch banks shall report, within 24 hours after a financing agreement is concluded with a foreign-funded bank and the money involved is lent out, the financing materials including financing agreements to the Department of Planning and Finance of the head office for archivist purposes. Article 30. The Office of Capital Dealings of the head office and the branch banks shall submit monthly statistical statements of interbank financing with foreign-funded banks to the head office each month so as to precisely reflect the real situation of financing including the balance of interbank financing business with foreign-funded banks, interest rates, the performance of contracts, etc. Article 31. An evaluation system concerning the credit standing of the foreign-funded banks shall be established. The Office of Capital Dealings of the head office and the branch banks shall pay close attention to the changes in the international financial market as well as the changes in the management yields and the international credit ratings of the foreign-funded banks, make regular or irregular evaluations about the credit standing of the foreign-funded banks so as to have a good knowledge of the risk changes of the foreign-funded banks. CHAPTER VI PUNISHMENT PROVISIONS Article 32. If any branch bank lends more money than authorized by the head office for the credit extension of foreign-funded banks, the head office shall cancel its right of foreign financing and give it necessary economic or administrative punishments according to the relevant provisions including the Interim Measures of the Construction Bank of China on How to Deal with the Staff Members Violating Financial Rules and Regulations. Article 33. Any branch bank who unlawfully concludes financing agreements with foreign-funded banks or lending money to foreign-funded banks without being authorized by the head office or going beyond the authorization of the head office, the head office shall cancel all the rights of financing of the bank concerned, and give necessary economic or administrative punishments according to relevant provisions including the Interim Measures of the Construction Bank of China on How to Deal with the Staff Members Violating Financial Rules and Regulations. CHAPTER VII SUPPLEMENTARY Article 34. The power to interpret the present Measures shall remain with the head office of the Construction Bank of China. Article 35. The present Measures shall be implemented as of the day of its promulgation. |
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