新版人民币跨境支付系统业务规则公开征求意见

Core Viewpoint - The People's Bank of China (PBOC) has released a draft for public consultation regarding the revised rules for the Cross-Border Interbank Payment System (CIPS), aimed at enhancing participant management and adapting to the system's development needs [1][2]. Group 1: Overview of the Draft Rules - The draft consists of six chapters and thirty-one articles, covering general principles, account management, business processing, settlement mechanisms, risk management, and emergency response [2]. - The rules apply to CIPS operating institutions, direct participants, and indirect participants, with operating institutions being approved by the PBOC to provide cross-border RMB clearing and settlement services [2]. Group 2: Participant Management - Operating institutions are required to establish participant management measures, detailing the management of participant entry and exit, reporting requirements, and risk management [2]. - Direct and indirect participants must conduct their business according to the management measures set by the operating institutions, which must be evaluated and approved by the PBOC [2]. Group 3: Account Management - The draft allows operating institutions to open clearing accounts with the PBOC for centralized storage of settlement funds, which must be accounted for separately from other funds [3]. - The funds in the account belong to all direct participants, who have rights based on their account balances, and the account cannot be overdrawn, with a zero balance required at the end of the day [3]. Group 4: Business Processing - Direct participants in the banking sector must process payments through CIPS based on customer instructions or on behalf of indirect participants, either individually or in batches [3]. - Financial market infrastructure participants must use CIPS for fund settlement according to their transaction systems and are prohibited from expanding service scope or business scenarios without consent [3].