Interim Administrative Measures for Interbank Certificates of Deposit

Interim Administrative Measures for Interbank Certificates of Deposit
Interim Administrative Measures for Interbank Certificates of Deposit

Announcement of the People's Bank of China [2013] No.20

December 7, 2013

For the purpose of regulating the business of interbank certificates of deposit, expanding the financing channels of deposit financial institutions in the banking sector and promoting the development of monetary market, the People's Bank of China has formulated the Interim Administrative Measures for Interbank Certificates of Deposit, which are hereby promulgated for implementation as of December 9, 2013.

Interim Administrative Measures for Interbank Certificates of Deposit
 
Article 1 The Interim Administrative Measures for Interbank Certificates of Deposit (hereinafter referred to as the "Measures") are enacted, in accordance with the Law of the People's Republic of China on the People's Bank of China and other relevant laws and regulations, for the purpose of regulating the business of interbank certificates of deposit, expanding the financing channels of deposit financial institutions in the banking sector and promoting the development of monetary market.
 
Article 2 In the Measures, "interbank certificates of deposit" refer to book-entry certificates of time deposit issued by the legal person of deposit financial institutions in the banking sector (hereinafter referred to as the "deposit financial institutions") in the national interbank market, which are monetary market instruments.
The deposit financial institutions as mentioned in the preceding paragraph include policy banks, commercial banks, rural cooperative financial institutions and other financial institutions recognized by the People's Bank of China.
 
Article 3 To issue interbank certificates of deposit, a deposit financial institution shall meet the following conditions:
1.
  ......