久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

By Xin Zhiming (China Daily)
Updated: 2007-07-10 09:07

The central bank yesterday issued new rules on interbank lending, expanding the types of financial institutions allowed in this market.

The rules, which signify "the most important interbank lending policy shift", stipulate that insurers, trust firms, financial asset and insurance asset managers, financial leasing companies and auto financing firms will be allowed to participate in the market.

Previously, commercial banks were the major players in the market, said Lu Wenlei, an analyst with Shanghai-based Shenyin and Wanguo Securities.

But financial institutions are not being allowed in unconditionally.

Foreign banks should first get the approval from the banking regulator to conduct renminbi business, according to the rules, which will take effect on August 6.

To take part in interbank lending, corporate finance companies, trust firms, financial asset managers, financial leasing companies, auto financing firms and insurance asset managers should have been in the black in the past two consecutive years.

Securities companies should satisfy the same requirement and also have a capital of more than 200 million yuan.

Insurers should have adequate repayment abilities if they want to enter the market, according to the rules.

Specific trading limits for market players have been stipulated. Banks can borrow money for a period of up to one year while securities brokerages and trust companies can do so for up to seven days.

The rules also set limits on the highest amount of money different institutions can borrow in proportion to their capital or assets.

These details have made the rules more comprehensive compared with the old regulation, which was on general bank lending practices drafted in the 1990s, Lu said.

"It will make the market more transparent, which will in turn make it more active in terms of trading," he said.