央行：境内中资银行、 外商独资银行、中外合资银行开展相关业务应由银行总行统一管理

Core Viewpoint - The People's Bank of China (PBOC) is soliciting opinions on a notice regarding the cross-border interbank financing business in Renminbi, aiming to support domestic banks in conducting such business in a compliant and risk-controlled manner [1][2]. Summary by Sections Section 1: Definition and Scope - Cross-border interbank financing refers to the financing activities between domestic banks and foreign institutions, focusing on Renminbi liquidity, including account financing and bond repurchase, but excluding investments in debt instruments [2][3]. Section 2: Management and Compliance - Domestic banks, including Chinese-funded, foreign-funded, and joint-venture banks, must manage cross-border financing under the unified management of their headquarters, ensuring robust risk management and internal control mechanisms [3][4]. Section 3: Financing Limits and Risk Management - The maximum term for cross-border interbank financing is set at one year, with net financing balances to foreign institutions capped based on the bank's capital levels and risk management factors [4][5]. - A warning mechanism must be established when the net financing balance reaches 80% of the limit [4]. Section 4: Regulatory Oversight - The PBOC will conduct macro-prudential management of 27 major domestic banks, while local branches will manage other banks' cross-border financing activities [5][6]. - Adjustments to risk management factors and parameters may be made based on market conditions [5]. Section 5: Reporting and Compliance - Banks must report their cross-border financing activities to the PBOC, with a retention period for business materials set at five years [6][7]. - Rural financial institutions are prohibited from engaging in cross-border interbank financing, with existing contracts maturing naturally [6]. Section 6: Implementation Timeline - The notice will take effect from a specified date in 2025 [7].