【金融街发布】中国人民银行：进一步支持境内银行业金融机构与境外机构开展人民币跨境同业融资业务

Core Viewpoint - The People's Bank of China (PBOC) has issued a notification to support domestic banks in conducting cross-border RMB interbank financing, aiming to enhance the offshore RMB market and improve macro-prudential management of cross-border capital flows [1][3]. Group 1: Notification Overview - The notification covers various types of RMB cross-border interbank financing and links the net financing balance to the capital level and funding strength of banks, promoting reasonable business operations [1][4]. - It introduces a counter-cyclical adjustment mechanism, allowing for adjustments based on market conditions and the financial status of banks [4][10]. - Domestic banks are encouraged to conduct RMB cross-border interbank financing in compliance with legal and risk management principles, with all related activities managed centrally by the bank's headquarters [2][4]. Group 2: Applicable Institutions - The notification applies to domestic banks legally established with international settlement capabilities, including state-owned banks, foreign-owned banks, and joint-venture banks [5]. - Rural financial institutions are generally not permitted to engage in RMB cross-border interbank financing, although some may qualify under specific conditions [5]. Group 3: Financing Balance Limits - The net financing balance limit for RMB cross-border interbank financing is determined based on the bank's capital or funding strength, with specific formulas provided for domestic and foreign banks [7]. - The notification allows for flexibility in business structure adjustments within an overall net financing balance limit, enhancing the systematic and scientific management of cross-border financing [10]. Group 4: Impact of the Notification - The implementation of the notification is expected to improve the rules and transparency of RMB cross-border interbank financing management, facilitating stable offshore RMB liquidity [10]. - It promotes a risk-neutral approach among banks, aligning with previous measures related to overseas loans and financing, thus providing a comprehensive macro-prudential management framework [10].