人民银行就银行业金融机构人民币跨境同业融资业务征求意见

Core Viewpoint - The People's Bank of China (PBOC) has drafted a notice to support domestic banks in conducting cross-border RMB interbank financing, aiming to develop the offshore RMB market and improve macro-prudential management of cross-border capital flows [1][2]. Group 1: Key Content of the Notice - The notice covers various types of RMB cross-border interbank financing, focusing on substantial creditor-debtor relationships between domestic banks and foreign institutions, excluding investment or purchase of debt instruments [1]. - The maximum term for RMB cross-border interbank financing is set at one year, aligning with the requirement for domestic interbank business [1]. - A counter-cyclical adjustment mechanism is introduced, with limits on net RMB cross-border interbank financing based on tier-one capital and risk management factors, allowing for adjustments by the PBOC [2]. - Domestic banks are encouraged to conduct business in compliance with market demand and regulations, with a focus on strong international settlement capabilities and robust risk management [2]. - The notice applies to domestic banks with international settlement capabilities, including Chinese banks, foreign-owned banks, joint-venture banks, and foreign bank branches, while excluding rural financial institutions from participating in RMB cross-border interbank financing [3].