央行发布关于银行业金融机构人民币跨境同业融资业务有关事宜的通知

Core Viewpoint - The People's Bank of China (PBOC) has issued a notification to support domestic banks in conducting cross-border interbank financing in RMB, aiming to develop the offshore RMB market and improve macro-prudential management of cross-border capital flows [1] Group 1: Definition and Scope - Cross-border interbank financing in RMB refers to the financing activities between domestic banks and foreign institutions, focusing on RMB liquidity, including account financing, bond repurchase, and other substantive debt relationships [1] - Domestic banks are defined as banks legally established in China with international settlement capabilities, including Chinese banks, foreign-owned banks, joint venture banks, and branches of foreign banks [2] Group 2: Operational Guidelines - Domestic banks must conduct RMB cross-border interbank financing in compliance with relevant policies and risk management principles, with unified management by the bank's headquarters [2] - The maximum net RMB financing balance for domestic banks is determined based on capital levels and funding strength, reflecting macro-prudential principles [3] Group 3: Reporting and Compliance - Domestic banks are required to report RMB cross-border interbank financing information to the RMB Cross-Border Payment Information Management System (RCPMIS) and must submit monthly statistics to the PBOC [5] - Rural financial institutions, such as rural commercial banks and credit cooperatives, are prohibited from engaging in RMB cross-border interbank financing [6] Group 4: Implementation and Adjustments - The notification will take effect immediately upon release, and banks exceeding the net financing balance limit must suspend new financing activities until compliance is restored [7] - The PBOC may adjust parameters related to cross-border business and financing limits based on market conditions and the development of the offshore RMB market [5]