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Five authorities regulate interbank business of financial institutions
2014-June-5 Source: Newsgd.com
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On 24th Apr, 2014, the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission and the State Administration of Foreign Exchange jointly issued the Circular on Regulating the Interbank Business of Financial Institutions (the "Circular"). The Circular, defining and regulating such inter-bank investment and financing business as interbank lending, interbank deposit, interbank loans, interbank financing and payment, and buying and selling back (sale for repurchase), specifies that interbank business with investment and financing at the core conducted by financial institutions shall be classified into the afore-mentioned basic categories according to the business nature of transactions and subject to categorized management. Moreover, the Circular strengthens the requirements for internal and external management of financial institutions' interbank business, standardizes the requirements for financial accounting and capital measurement, and sets out the requirements for the term and risk concentration of interbank business.

(This information is provided by Lawyer Kelly Xie from Guangdong KaiTong Law Firm in friendship. It is not any legal opinion or legal grounds addressed to any organization or individual. For inquiry, please contact Kelly via email at Kelly_xie@ktlf.com.cn or by phone on 13926185641.)

Editor: 张斯
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